Cloudcroft Area Real Estate Update for 3rd quarter 2013

“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 a little about our beautiful mountain area.

What a stunning summer in the Sacramento Mountains!  After a dry winter the summer monsoon rains came and our forest remained completely open showing off beautiful wildflower meadows.  We had some late saturating rains which brought to life some ponds and springs which have not held water or flowed in years.  Fall has continued to show the splendor of the mountains with gorgeous aspen and maple color.  We are all set for a wet winter with lots of snow.

Now for some Everett Team news…  We are pleased to welcome Rachel Telles to The Everett Team.  Rachel’s expertise in Internet Marketing will help us stay on the cutting edge of these quickly changing marketing opportunities.  We are thankful for the vitality and new ideas she is bringing to The Team….including our new  Facebook page!

Below you will find a detailed summary and analysis of the 3rd quarter Cloudcroft Mountain Area Real Estate Activity.  The market performance has improved from the first half of the year…  don’t want to spoil it before you read it for yourself!  This report was prepared by The Everett Team with statistics from the Otero County Multiple Listing Service and we will keep you updated quarterly.

Cloudcroft Area Real Estate Update 3rd Quarter 2013

The Everett Team at Blue Canyon Realty provides exceptional service for buying & selling real estate, along with education on local market trends & analysis.  To this end we are providing market statistics for the 3rd quarter of 2013 as compared to the 3rd quarter of 2012.

 

Residential Mountain

Category 2012 2013 +/- Var % Var
Quantity Sold 76 92 +16   +21%
Volume Sold $ 12,355,254 13,630,858 +1,275,604 +10%
Average Sale $ 162,569 148,162 -14,407    -9%%
Median Sale $  141,250  137,750  -3,500  -2%
Quantity Active 237 249 +12 +5%

 The trend of Quantity Sold, up 21%, and Dollar Volume Sold up 10%, continues to indicate that we are in a healthy mountain real estate market.  Average Sale and Median Sale both showing down, is somewhat conflicting.  As you can see below the statistics by “Price Point”, contains the answer to this question.  Quantity Active( Inventory) up by 5% is not a concern as long as the Quantity Sold is up by so much, which absorbs the additional inventory.

 

Residential Mountain by Price Point

Category Units Sold 2012 Units Sold 2013 + /-Var % Var Average Sale 2012 Average Sale 2013 % Var
0-150K 46 56 +10 +21% $97,428 $101,854   +5%
151K-300K 22 31 +9 +41% $209,688 $198,613   -5%
300K-up 8 5 -3 -37% $407,546 $354,000   -13%

The strength of our market continues to be in the 0 to 150K area with Units Sold up 21% and Average Sale per unit up 5%.  The mid-level, 151K-300K, market remains healthy as well.  The high end market, 300K-up, continues to be somewhat soft, and is pulling down the overall averages as mentioned above.  We are encouraged to see some high end demand early in the 4th Quarter.

 

 

Residential Cloudcroft (Village only)

Category 2012 2013 +/- Var % Var
Quantity Sold 26 25 -1 -4%
Volume Sold $ 3,915,030 3,787,025 -128,005 -3%
Average Sale $ 150,578 151,481    +903 +1%
Median Sale $ 146,600 146,900 +300 flat
Quantity Active 73 84   +11   +15%

What a great comeback for the Village of Cloudcroft!  The 1st Half was looking a little shaky, but our counsel  “not to panic” because we just didn’t have enough units to be certain was accurate.  The Village is stable, with Average Sale price per unit holding up.  The Quantity Active (inventory)up 15 % remains a concern.

  

  

Land Mountain

Category 2012 2013 +/- Var % Var
Quantity Sold 31 37 +6 +19%
Volume Sold $ 2,338,250 1,939,550 -398,700 -17%
Average Sale$ 75,427 52,420 -23,007 -30%
Median Sale $
Quantity Active 264 275 +11 +4%

We are encouraged that the Quantity Sold is up by 19%, while the Average Sale price being down 30% is concerning.  Last year has a sale of $550K and the largest sale this year is 250K. We also had 10 sales this year below 10K and 4 last year below 10K.  Once again, a few sales on either end of the spectrum can really “skew” the trend.  In an effort to provide relevant analysis we also took out a 7.7 million ranch sale from this year’s data or the statistics would have increases in value of over 500%.

 

In summary, throughout 2013 most categories have remained strong, especially cabins in the $0 to $150 range.  We believe that the overall mountain market is stable and healthy.  We are somewhat concerned regarding the lower activity for the high end properties, however the 4th quarter is starting off well.  The Texas “oil & gas” money is still showing up.

 

The Everett Team and Blue Canyon Realty are leading the market and are on track for a record year.   Year after year, Blue Canyon Realty helps over five times more people buy and sell mountain properties than the average Cloudcroft real estate office.  We are very  thankful for the opportunities we have had to help so many clients and friends!  We would like to reinforce our Real Estate Business Model of SPECIALIZATION.  You deserve to have exclusive representation when making buying and selling decisions.  You need a Specialist!

 

We look forward to serving your Real Estate needs.

Randy exclusively represents sellers; call him at 575-430-0510 with listing questions.

Debbie, Thomas & Kathy exclusively represent buyers; call Debbie at 575-430-9511, Thomas at 575-491-4347 & Kathy at 575-682-2583.

 

If you are in Cloudcroft, stop by and visit The Everett Team at our Blue Canyon Realty office.  Call us at our office, 575-682-BLUE 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.  All statistics are from the Otero County Multiple Listing Service as of September 30, 2013.

 

Randy, Debbie, Thomas, Kathy, Suzie, Rachel, Terri

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