Cloudcroft Real Estate Update for full year 2015

Greetings from the 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 snows have come and we are so excited to see that Ski Cloudcroft has opened and is bringing visitors up for some long awaited snow play!

Now for some Blue Canyon Realty news…  In addition to the Real http://healthsavy.com/product/meridia/ Estate Report we have included the office and agent performance statistics for mountain properties sold in 2015 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 four times more folks buy or sell in 2015 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.  We sincerely thank you with all our hearts for the privilege of serving 155 sellers and buyers in 2015 and look forward to serving all your real estate needs in 2016.

Below is a detailed summary and analysis of Cloudcroft Mountain Area Real Estate Activity for the full year 2015.  The market performance started off slow but finished well…  don’t want to spoil it before you read it for yourself!  This report was prepared by Randy Everett, Listing Specialist, with statistics from the Otero County Multiple Listing Service.

 

Residential Mountain

Category 2014 2015 +/- Var % Var
Quantity Sold 136 138 +2   +1%
Volume Sold $ $26,374,000 $24,104,000 -2,270,000 -9%
Average Sale $ $193,926 $174,667 -19,259   -10%
Median Sale $  $148,750 $155,000  +6,250 +4%
Quantity Active 233 185 -48 -21%

WOW, what a great comeback for the 2nd half of 2015.  As you recall, the 1st half was down 30% in dollar volume.  The full year of 2015 Volume Sold is only down by 9%…a strong 2nd half!  This compares to a record 2014, which we considered an “anomaly” due to oil prices over $100 a barrel.  The average Volume Sold for the past 7 years is $20,856,011.  2015 at $24,104,000 was the 2nd best year during that time and that is with oil at under $40 a barrel!!  We are in a healthy mountain real estate market.  The real story going forward is the Quantity Active which is down by 21%; there are 48 less units for sale this year vs. last year.  We may start realizing a higher level of price appreciation (strong demand with less available to purchase).  If you are considering selling, this could be the most favorable conditions that we have seen in quite some time.  Please refer to the enclosed report that reflects performance by Listing Agent and Real Estate Company.

 

Residential Mountain by Price Point

  Price

Category

Units Sold 2014 Units Sold 2015 + /-Var % Var Average Sale 2015 Average Sale 2014 % Var
$0-$150K 70 67 -3 -4% $108,399 $101,666   -6%
$151K-$300K 44 58 +14 +32% $229,611 $203,816 -11%
$301K – up 21 13 -8 -38% $499,795 $420,846   -16%

The strength of our market in 2015 was in the mid-range units. Residential properties at $151K to $300K were up 32% in units sold.  The number of properties sold over $301K was down substantially, once again oil related.  The one disappointment this year was that it appears that we did lose some value, making the fact that Quantity Active is down 21% very pertinent to the health of the market going forward.

 

Residential Cloudcroft (Village only)

Category 2014 2015 +/- Var % Var
Quantity Sold 38 39 +1 +3%
Volume Sold $ $6,220,879 $6,351,300 +130,421 +2%
Average Sale $ $163,707 $162,853   -854 -1%
Median Sale $ $148,750 $165,000 +16,250 +11%
Quantity Active 70 64 -6 -9%

The Village of Cloudcroft had a better year than the whole mountain.  Values held up well and with only 64 units for sale, we are set up for another good year for Village real estate!  It has been many years since we have seen inventory this low in the Village.

 

Land Mountain

Category 2014 2015 +/- Var % Var
Quantity Sold 55 61 +6 +11%
Volume Sold $ $3,746,950 $4,125,900 +379,310 +10%
Average Sale$ $68,120 $67,638   -482 -1%
Median Sale $  $38,000  $34,000 -4,000 -11%
Quantity Active 220 190 -30   -14%

Land sales performed well in 2015. Quantity Sold is up 11%, Volume Sold $ is up 10% while Quantity Active is down by 14%.  This bodes very well for our 2016 mountain land market.  We believe that Median Sale $ was down by 11% due to smaller lot sales, values were stable.

In summary, we have every reason to believe that 2016 will be another healthy year for Sacramento Mountain real estate.  The fact that we are doing so well with the oil industry in recession and inventory levels down substantially makes us very excited about the prospects for 2016!!

Lastly, we would like to reinforce our Real Estate Business Model of SPECIALIZATION.  For the 5th year, Randy Everett with support from a three person marketing and administrative team sold more listings than any real estate company on the mountain by a large margin!  Blue Canyon Buyer Specialists helped 40% of the 195 property buyers in 2015. 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, 575-430-9511, Thomas, 575-491-4347, and Joey, 575-491-8434 exclusively represent buyers.  For immediate buyer questions call us at 575-495-2525.

If you are in Cloudcroft, stop by and visit.  We’re right on Hwy 82, between the schools and Allsups. Call us at 575-682-BLUE(2583) or e-mail at:  info@BlueCanyonRealty.com.  Visit our website:Blue Canyon Realty 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, 2016.

 

everett

Pam Crane  Thomas Mack   Debbie Tate   Randy & Terri Everett  Joey Rogers   Kerry Krzenski

Randy Everett

Owner, Qualifying Broker, Listing Specialist

The Everett Team