Cloudcroft Real Estate Update for full year 2013

“How’s The Mountain Market?”

BlueCanyonGreetings 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.

We were blessed with a good snow right before Christmas which allowed Ski Cloudcroft to open bringing in lots of folks looking for some snow play.  There’s also a couple of new exciting shops open in the Village plus a local radio station.  Next time you are here check out the Noisy Water Winery and the new Burro Street Bakery.

Now for some Everett Team and Blue Canyon Realty news…  In addition to the Real Estate Report we have included Agent and Office performance statistics for 2013.  We are grateful and very humbled by the extraordinary amount of folks who choose to put their confidence in The Everett Team and Blue Canyon Realty.  We continue to strive to live up to our driving values of Colossians 3:23 “Whatever you do, work at it with all your heart, as working for the Lord, not for men.”  We also believe that our business model of Specialization and Representation is the way we “walk the talk” of our Values.  If you have allowed us to serve you this year we sincerely thank you with all our hearts for the privilege!

Enclosed you will find a detailed summary and analysis of Cloudcroft Mountain Area Real Estate Activity for full year 2013.  The market performance is very good overall…  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.

 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 full year of 2013 as compared to the full year of 2012.

 

Residential Mountain

Category 2012 2013 +/- Var % Var
Quantity Sold 119 135 +16   +13%
Volume Sold $ 21,314,834 20,952,859 -361,975 -2%
Average Sale $ 179,116 155,206 -23,910   -13%
Median Sale $  150,000 140,000  -10,000 -7%
Quantity Active 226 201 -25 -12%

At first blush it appears that 2103 was a marginal year for our real estate market.  In reality, we had a very good year.  As you will see the $0-150K and $151K-$300K categories were very healthy.  The weakness of the market was in the high end properties, $300K -up.  Also recall that we are comparing to a “blow out 2012” where our overall Average Sale$ (price) was up 13%.  A very good indicator of our healthy market is the Quantity Active which is down 12%… this is a first since we began publishing this report.  This usually is a leading indicator of value increases to come (Supply vs. Demand).

 

Residential Mountain by Price Point

  Price

Category

Units Sold 2012 Units Sold 2013 + /-Var % Var Average Sale 2012 Average Sale 2013 % Var
$0-$150K 66 77 +11 +17% $96,167 $103,216   +7%
$151K-$300K 40 51 +11 +27% $209,610 $205,297 -2%
$301K – up 15 7   -8 -53% 480,824 362,142   -25%

Last year was a big turnaround for $300K – up.  This year was the exact opposite, which accounts for the weaker overall numbers.  The $0 – 150K category was the star performer, with $151K – $300K very healthy as well.  We are hopeful for a turnaround in the high end market during 2014.  Through 1/09/2014 we have already had 4 properties over $300K go under contract…a very strong start!!

 

Residential Cloudcroft (Village only)

Category 2012 2013 +/- Var % Var
Quantity Sold 35 38 +3 +9%
Volume Sold $ 5,702,285 5,830,226 +127,941 +2%
Average Sale $ 162,922 153,427   -9,495 -6%
Median Sale $ 150,000 151,950 +1,950 +1%
Quantity Active 68 64 -4 -6%

The Village of Cloudcroft also had a healthy year considering we were up against 2012 which had Quantity Sold up 64% and Average Sale $ (price) up 10%.  For 2103, we still had Quantity Sold up 9% and Median Sale $ (price) up 1%.  Factor out the softness in the high end market and our averages are much higher in the Village.

 

Land Mountain

Category 2012 2013 +/- Var % Var
Quantity Sold 44 58 +14 +32%
Volume Sold $ 2,940,450 4,253,100 +1,312,650 +45%
Average Sale$ 66,828 73,329   +6,501 +10%
Median Sale $  37,000  35,000 -2,000 -5%
Quantity Active 264 270 +6 +2%

Land sales had a very healthy 2013 as well.  Quantity Sold up 32% and total Volume Sold $ up 45% represents one of the best years we have had since we began publishing this report.  Already this year there have been 2 large parcels, over $300K each, go under contract.  To be fair, we are comparing to a weak 2012 in land sales.  We did not include a large ranch sale over $7,000,000 in order to have more reasonable comparisons for this year vs. last year.

In summary, we have every reason to believe that 2014 will be another healthy year for real estate in our little slice of heaven.  Oil and Gas are still strong, which is definitely providing a boost to our market.  The primary driver continues to be our location…the closest mountains to the heat of Texas!  We are still being discovered by new generations of folks looking for a mountain getaway.

Lastly, I would like to reinforce our Real Estate Business Model of SPECIALIZATION.  For the 4th 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 at 575-430-0510 for any real estate listing questions.  Debbie, Kathy & Thomas exclusively represent buyers; call Debbie at 575-430-9511 & Thomas at 575-491-4347.

If you are in Cloudcroft, stop by and visit The Everett Team at our Blue Canyon Realty office.  We’re right on Hwy 82, between the schools & the Allsups.  Call our office, 575-682-BLUE and always 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 January 2, 2014.

Randy Everett, Owner, Qualifying Broker, Listing Specialist
everett.team@gmail.com  -575-430-0510