Indian Springs Golf Club - June 2019 Market & Sales Report
Looking back, the start of this year brought us the lowest inventory levels in history, making a slow start. ISGC started out with roughly a total of 6 to 9 homes for sale by all agents and brokers through February, and then inventory jumped to 12 for sale in March and then to 16 in April, and 19 homes for sale in May and currently 21 here at the end of June. Even though inventory has more than tripled this year, it's still as much as 50% less than previous years.
The season inventory peak came late this year. Historically inventory is lowest at the beginning of the year and would peak out in April or May... and this year Inventory started low and slow, then rapidly peaking in June into the "20's". So things came late this year and so have the sales.
Inventory is still low in the "20's compared to a few years ago when it was in the 30's and 40's. Low inventory, low rates, and high consumer confidence have continued to create sales, but at a slower pace than last year. The average sales price in ISGC is $417,428 for an average home size of 1,946 sf., which is $217 per sf.... when only looking at golf course homes the averages are: 1,970 sf selling for $450,009 at $232 per sf.
Earlier in the month, I met with a prospective seller asking when is a good time to sell? I know that answer, but I answered that question stating I know the toughest/slowest time.... but I was curious what they thought, so I asked when they thought it was the slowest time of the year? Like most (and as I thought), they said in the summer. Nope, the 30 days before and after the new year is the slowest time for real estate sales valley wide and summer has a few of the most productive months every year... although this last April was the slowest in many years.
When I got back to the office, I ran the numbers to check these stats and see how close they compare. After pulling and reviewing the numbers, the three summer months ahead of us is almost as productive as the first five months of the year! Here are the stats (please see chart below): In the last 7 years from Jan 1 through May 31st, there is an average of 19 homes closing escrow in Indian Springs (3.8 sales a month) .. and between June 1st and August 31st there is an average of 16 homes closing in that 3-month period (5.3 sales a month)!!! This demonstrates that the next 3-months are more productive and sell almost as many homes that the first 5 months of the year.
If your house is still for sale and I don't want you to get discouraged thinking summer is not a good time to sell when it actually is! The trend above shows the next three months usually match the last 5 when the year starts off slow. '05 and '06 had 13 and 14 sales in the first 5 months, the next 3 months produced the same results. If this holds true again this year, we should see another 10+/- sales in these next 2 months and when listing with us, we will be doing everything we can to make sure yours is one of them!