Cloudcroft Real Estate Update for full year 2014

BlueCanyonGreetings from the Everett Team at Blue Canyon Realty, Cloudcroft, New Mexico!  On this snowy morning we are writing to share the latest mountain real estate news… but first a little about our beautiful mountain area.

The little Village of Cloudcroft is hopping with hunters and folks looking to play in the snow this month.  We are looking forward to the reopening of the Mountain Top Mercantile soon under new ownership a new name and with the addition of barbecue!

Now for some Blue Canyon Realty news…  In addition to the Real Estate Report we have included the office performance statistics for 2014 for selling mountain properties in Otero County.  It is so important to make educated decisions when choosing someone to help you buy or sell property. As #1 on the Mountain, Blue Canyon Realty helped three times more folks buy or sell in 2014 compared to the #2 mountain office!   We are grateful for and very humbled by the numbers.  We believe that our business model of Specialization and Representation is the way we “walk the talk” of our Values when serving our clients.  If you have allowed us to serve you this year we sincerely thank you with all our hearts for the privilege!

Below you will find a detailed summary and analysis of Cloudcroft Mountain Area Real Estate Activity for full year 2014.  The market performance is 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.

Cloudcroft Area Real Estate Update Full Year 2014

 

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 2014 as compared to the full year of 2013.

 

Residential Mountain

Category 2013 2014 +/- Var % Var
Quantity Sold 135 135 +0   0%
Volume Sold $ 20,952,859 26,205,000 +5,252,141 +25%
Average Sale $ 155,206 194,111 +38,905   +25%
Median Sale $  118,250 126,000  +7,750 +7%
Quantity Active 201 233 +32 +16%

 

WOW, what a great year for our Mountain Real Estate!  We had the best year in the last 6 years, since the Great Recession began.  Our low point was in 2011 with total closings of $39,595,088 with our record year of 2014 coming in at $60,027,180!!  As you can see, total Residential Quantity Sold were even with 2013, but take a look at Volume Sold $ up $5,252,141 or a 25% increase. Median Sale $ +7% is a great indicator that our values are finally increasing.  The only concerns coming into 2015 may be the Quantity Active +16%, a bit of a softer 4th Quarter of 2014, and the precipitous decline in oil prices; as we are somewhat oil economy dependent.

 

Residential Mountain by Price Point

  Price

Category

Units Sold 2013 Units Sold 2014 + /-Var % Var Average Sale 2013 Average Sale 2014 % Var
$0-$150K 77 70 -7 -9% $103,216 $108,399   +5%
$151K-$300K 51 44 -7 -14% $205,297 $229,611 +12%
$301K – up 7 21   +14 +200% $362,142 $499,795   +38%

 

At the end of 2013 we were hoping for a turnaround in our high end market, over $301K.  Goodness did we ever have a turn around with Units Sold +200% and Average Sale Price + 38%, simply AMAZING for our little market!!  The oil money definitely showed up!  It is encouraging to see that we had Average Sale increases in all price points… a stable market indeed!

 

Residential Cloudcroft (Village only)

Category 2013 2014 +/- Var % Var
Quantity Sold 38 38 +0 +0%
Volume Sold $ 5,820,226 6,220,879 +390,653 +7%
Average Sale $ 153,427 163,707   +10,280 +7%
Median Sale $ 151,950 148,750 -3,200 -2%
Quantity Active 64 70 +6 +9%

 

The Village of Cloudcroft also had a healthy and stable 2014 as well.  Not quite as strong as the overall mountain, but healthy none the less.  The rise in inventory to Quantity Active +9% is a bit concerning.

 

Land Mountain

Category 2013 2014 +/- Var % Var
Quantity Sold 59 55 -4 -7%
Volume Sold $ 4,256,100 3,746,590 -509,510 -12%
Average Sale$ 72,137 68,120   -4,017 -6%
Median Sale $  118,250  126,000 +7,750 +7%
Quantity Active 270 220 +6   -19%

 

The only disappointment in our real estate market during 2014 was land sales.  Land sales were tremendous during the 1st Quarter 2014 and stayed strong through the 3rd Quarter.  However, the 4th Quarter had Quantity Sold down 48% and Volume Sold $ down 83% as compared to 2013.  One Quarter does not a trend make and land sales were good for the entire year though the 4th Quarter slip is worth noting.

In summary, we have every reason to believe that 2015 will be another healthy year for real estate in our little slice of heaven.  The only “cloud on the horizon” could be the health of the oil and gas market.  However, our 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, we 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 and Thomas exclusively represent buyers; call them at 575-495-2525.

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 and the Allsups.  Call our Blue Canyon Realty office at 575-682-BLUE(2583) and always ask for The Everett Team.  We can 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 3, 2015.

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The Everett Team

Randy, Terri, Debbie, Thomas, Rachel & Lisa

Randy Everett

Owner, Qualifying Broker, Listing Specialist

  • Cindy Tate

    THOMAS MACK IS THE BEST!!