Cloudcroft Real Estate Update for 3rd quarter 2014

“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.

The summer monsoon rains were generous and now we are enjoying a beautiful sunny autumn.  The fall colors are sprinkling gold and red over the rich green mountains.  Did you know that we have maple trees in the area?  You can find them showing off their colors on the Osha Hiking Trail in Cloudcroft; and if you want to drive through them take Karr Canyon Rd down off the Sunspot Hwy toward Hwy 82 in High Rolls.  Visit our Blue Canyon Realty Facebook page to see our photos of the seasonal colors.

Now for some Everett Team news…  We are pleased to welcome Lisa King to the Team as our Listing Manager.  She has deep roots in the community and brings a high level of organization and competency to this position.  Lisa’s values fit perfectly with ours which are grounded in scripture, Colossians 3:23, “Whatever you do, work at it with all your heart, as working for the Lord, not for man.”

Below you will find a detailed summary and analysis of the 3rd quarter Cloudcroft Mountain Area Real Estate Activity.  The market performance is HOT, HOT, HOT…  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.

Stop by and see us when you are in Cloudcroft, we’re right on Hwy 82 just to the east of the Allsups . We look forward to seeing or talking to you soon.

The Everett Team at Blue Canyon Realty provides exceptional service for buying and selling real estate, along with education on local market trends and analysis.  To this end we are providing market statistics through the 3rd quarter of 2014 as compared to the 3rd quarter of 2013.

 

Residential Mountain

Category 2013 2014 +/- Var % Var
Quantity Sold 92 95 +3   +3%
Volume Sold $ 13,630,858 19,111,595 +5,480,737 +40%
Average Sale $ 148,162 201,175 +53,013    +36%
Median Sale $  137,750  150,000  +12,250  +9%
Quantity Active 249 251 +2 +1%

 

We have been waiting on this type of a year since 2008.  The numbers above indicate that we are in a VERY STRONG real estate market!!  With Average Sale $ (price) up 36% and Median Sale $ (price) up 9%, we are finally seeing some value appreciation in our mountain market.  The stability of the Quantity Active is a healthy indicator as well.

We also have had a major “Market Shift” in Price Point of properties sold as seen below.

Residential Mountain by Price Point

Category Units Sold 2013 Units Sold 2014 + /-Var % Var Average Sale 2013 Average Sale 2014 % Var
0-150K 56 48 -8 -14% $101,854 $99,341   -2%
151K-300K 31 31 0 0% $198,613 $224,039   +13%
300K-up 5 16 +11 +220% $354,000 $462,377   +31%

The strength of our market since 2008 has been in the lower end 0-150K Category.  The high end market, $300K-up has been weak for 5 years and has consistently http://healthsavy.com/product/kamagra/ pulled down our average sales price.  This year marks a distinct “Market Shift” trend change!  Units Sold up 220% and Average Sale $ (price) up 31%, on properties over $300K is simply astounding!!  The oil and gas money has finally made its way to the Sacramento Mountains!!  The lower and medium priced property sales have also remained healthy.  As you can see, the 0-150K category has dropped off in Units Sold, but is maintaining value.

Residential Cloudcroft (Village only)

Category 2013 2014 +/- Var % Var
Quantity Sold 25 30 +5 +20%
Volume Sold $ 3,787,025 5,275,079 +1,488,054 +39%
Average Sale $ 151,481 175,835    +24,354 +16%
Median Sale $ 146,900 151,750 +4850 +3%
Quantity Active 84 80   -4   -5%

As you may recall, the properties in the Village of Cloudcroft actually started a comeback in 2013.  We are pleased to see that this healthy trend has continued through 2104.  Both Average Sale $ (price) and Median Sale $ (price) are still trending up, while inventory available is down 5%…very healthy indeed!!

Land Mountain

Category 2013 2014 +/- Var % Var
Quantity Sold 39 44 +5 +13%
Volume Sold $ 2,080,550 3,348,890 +1,268,340 +61%
Average Sale$ 53,347 76,111 +22,764 +43%
Median Sale $  35,000  45,000  +10,000 +29%
Quantity Active 275 224 -51 -18%

The very strong positive trend also continues in land sales!  We are experiencing the perfect storm in land sales.  The combination of Median Sale $ (price) up 29 % and Quantity Active down 18% bodes very well for the future!!  More large land parcels sold this year, which indicates the influx of oil and gas money as well.

In summary, our Sacramento Mountain Real Estate Market is finally hitting on all cylinders.  We remain very optimistic for the future.  As long as our financial markets and the price of oil holds up, we feel safe recommending real estate for purchase in our little “slice of heaven”!

 

The Everett Team and Blue Canyon Realty are leading the market and are on track for another record year.  We are thankful for and blessed by the opportunities we’ve had to help so many people buy and sell mountain properties!  The Everett Team continues, by a wide margin, to sell more listings and contract for more buyers, than any Realtor or company on the mountain!

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!  In that regard we look forward to serving your Real Estate needs.  Randy exclusively represents sellers; call him at 575-430-0510 with listing questions.  Debbie, Thomas and Suzie exclusively represent buyers, they can be reached at 575-495-2525.

If you are in Cloudcroft, stop by and visit The Everett Team at our Blue Canyon Realty office.   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, 2014.

teameverett

The Everett Team

Randy, Terri, Debbie, Thomas, Suzie, Rachel & Lisa

Randy Everett

Owner, Qualifying Broker, Listing Specialist