Cloudcroft Area Real Estate Update Full Year 2012

by Randy Everett

“How’s The Mountain Market?”

Greetings from The Everett Team at Blue Canyon Realty, Cloudcroft, New Mexico!  We are writing to share the latest mountain real estate news… but first some Everett Team news.

What a year it was for The Everett Team and for Blue Canyon Realty!  We opened the doors to Blue Canyon Realty in February 2012 and ended the year as the top Real Estate Company on the mountain with  the most listings sold,  most purchases closed and the highest volume on the mountain.

We are extremely thankful for The Everett Teams high productivity and for each valuable team member.  Together we really are better…   better with the addition of two team members in 2012.  Thomas Mack joined the team as our 3rd Buyers Specialist, offering buyers his exclusive service & representation.  Judy Mancillas serves as The Everett Team Listing Coordinator, her years as a licensed Realtor on the mountain and her attention to detail are a vital addition to our team, enabling us to stay true to our values:  Colossians 3:23, “Whatever you do, work at it with all your heart, as working for the Lord, not for men”.

The Everett Team at Blue Canyon Realty provides exceptional service for buying & selling real estate, along with education on local market trends & analysis.  Below you will find a detailed summary and analysis of the full year 2012 activity of the Cloudcroft Mountain Area Real Estate  as compared to the full year of 2011.  The market performance has been strong…..don’t want to spoil it before you read it for yourself!

Residential Mountain

Category

2011

2012

+/- Var

% Var

Quantity Sold

96

121

+25

 +26%
Volume Sold $

15,235,455

21,943,834

+6,580,379

+43%

Average Sale $

160,036

181,354

+21,318

 +13%
Median Sale $

134,450

150,000

+15,550

+12%

Quantity Active

204

226

+22

+11%

WOW, talk about “a comeback year” for residential real estate in our wonderful mountains…2012 was a tremendous year!  As you recall, our average sale was down in value 13% in 2011, a very soft year.  Amazingly, our average sale price is up 13% in 2012!!  The quantity sold is up 26%, giving us the best year we have had since 2007!  Our saving grace has been all of the new wealth created in the  latest oil and gas “boom”.  Our piece of heaven is perfectly located to capitalize on this trend!

Residential Mountain by Price Point

Category

Units Sold 2011

Units Sold 2012

+ /-Var

% Var

Average Sale 2011

Average Sale 2012

% Var

0-150K

57

66

+9

+16%

$95,931

$96,167

 +1%
151K-300K

31

40

+9

+29%

$203,021

$209,610

+3%

301K – up

7

15

+8

+114%

496,240

  480,824

-3%

One of the biggest stories of the year is the return of the “high end buyer”.  The number of homes sold above $301,000 was more than double last year’s sales.  The lower and medium end properties were also very healthy.  We are fortunate to have a very healthy and balanced residential real estate market coming into 2013!

Residential Cloudcroft (Village only)

Category

2011

2012

+/- Var

% Var

Quantity Sold

22

36

+14

+64%

Volume Sold $

3,218,800

5,791,285

+2,572,485

+80%

Average Sale $

146,309

160,869

   +14,560

+10%

Median Sale $

120,200

149,100

+28,900

+24%

Quantity Active

60

68

+8

+13%

The Village of Cloudcroft also had a really amazing year!  The quantity sold was up 64% and the average sale price climbed 10%.  The year 2011 was exceptionally rough on Village residential real estate with units sold -31% and the average sale price -18%.  What a turnaround!  Thank you oil and gas industry!

Land Mountain

Category

2011

2012

+/- Var

% Var

Quantity Sold

52

44

-8

-15%

Volume Sold $

4,434,089

2,940,450

-1,493,639

-34%

Average Sale$

85,271

66,828

  -14,583

-22%

Median Sale $

39,500

37,000

-2,500

-6%

Quantity Active

219

264

+45

+21%

As you may recall, land sales were the only bright spot of  the 2011 mountain market.  This picture certainly changed during 2012 where land sales suffered at the expense of residential improved property sales.  Quantity sold was down 15% and the average sales price was down 22%.  Part of this can be explained by a couple of high end sales that had substantial acreage, but also had homes, so they were in the residential category instead of land.

In summary, we believe that we will see a continuation of a strong real estate market in 2013.  December 2012 was one of the strongest months of the year, which is a great indicator.  We are told that the large oil and gas areas of exploration are at least 15 year projects.  Providing we have enough moisture to keep the Forest open and our country continues to pursue energy independence, we expect to experience a healthy real estate market.

Lastly, I would like to reinforce our Real Estate Business Model of SPECIALIZATION.    For the 3nd year, The Everett Team sold more listings than any Realtor on the mountain by a very large margin!  We look forward to serving your Real Estate needs as SPECIALISTS.  Randy exclusively represents sellers; call him for any real estate listing questions.   Debbie, Kathy & Thomas exclusively represent buyers, give them a call for buying questions or assistance.

If you are in Cloudcroft, stop by and visit The Everett Team at our Blue Canyon Realty office.  We’re right on Hwy 82 in the heart of the Village.  Call our office, 575-682-BLUE (2583) and ask for The Everett Team.  We can also be reached via e-mail at:  Everett.Team@gmail.com Visit our website at:  www.CloudcroftRE.com where you can see our newest listings and search the MLS.

Randy Everett    Owner, Qualifying Broker, Listing Specialist     575-430-0510

Debbie Tate     Associate Broker, Buyer Specialist       575-430-9511

Thomas Mack     Associate Broker, Buyer Specialist    575-491-4347

Kathy Halbig     Associate Broker, Buyer Specialist     575-430-5099

Judy Mancillas     Associate Broker, Listing Coordinator

Terri Everett     Unlicensed, Marketing Manager