Jeff Savage - CRS, e-PRO, SRES

How is Real Estate Doing in 2011?

This is the Sold Market Analysis looking at Year-to-Date for the ENTIRE Year - 2011.

I updated my multi-year market analysis charts which I last presented in our Grand Lake Area Real Estate Symposium – 2008.

I presented the updated analysis at the Grand Lake Area Real Estate Symposium – 2012 in February.

At that time, I posted the updated PowerPoint analysis at my SlideShare account - www.SlideShare.net/JeffSavage01

You can see in the detailed report below that in 2011:

• TOTAL Dollars Spent on Real Estate is $127,567,682 - up 6.4% or $7.7 million from last year (2010)
• Dollars spent on Residential homes (represents 87% of the market) is $111,388,218 - up 9% or $9 million
• Dollars spent on Water Front homes (represents 46% of the market) is $58,060,405 - up 18% or $9 million
• Dollars spent on Luxury homes (represents 19% of the market) is $23,839,600 - up 22% or $4 million
• Dollars spent on ALL property in the Grove area  (represents 53% of the market) is $67,250,820 - up 4.5% or  $3 million
• Dollars spent on ALL property in the South Counties area (represents 31% of the market) is $39,905,600 - up 10.5% or  $4 million

For Financing sources – looking at Residential Real Estate sales:

• Conventional financing represents 46% of all Residential financing transactions – down from 61% in 2006
• Cash financing remained relatively constant throughout the last 7 years and represents 30% of all Residential financing
• FHA is the next largest single source at 6%

DETAILED ANALYSIS REPORT: