I recently had a discussion with another Big Canoe resident regarding the appreciation of homes. As the conversation progressed, it became apparent to me that there was some confusion regarding resales, so I decided to put together some resales data for Big Canoe homes covering the years 2005, 2006, 2007, and the first 4 months of 2008. Keep in mind that this data does not reflect some (if not most) of the Developer’s product. The same is true for FSBOs.
2005 Resales Data
- 149 Resales Closed in Big Canoe
- Average Number of Bedrooms and Baths was 3 Bedrooms and 3.5 Baths
- Lowest Listing Price was $110,000
- Average Listing Price was $381,692
- High Listing Price was $900,000
- Average Sale Price was $366,687
2006 Resales Data
- 172 Resales Closed in Big Canoe
- Average Number of Bedrooms and Baths was 3 Bedrooms and 3.5 Baths
- Lowest Listing Price was $130,000
- Average Listing Price was $420,494
- High Listing Price was $1,072,000
- Average Sale Price was $398,255
2007 Resales Data
- 117 Resales Closed in Big Canoe
- Average Number of Bedrooms and Baths was 4 Bedrooms and 3.5 Baths
- Lowest Listing Price was $123,900
- Average Listing Price was $452,295
- High Listing Price was $1,450,000
- Average Sale Price was $425,345
2008 Resales Data (through April 29)
- 22 Resales Closed in Big Canoe
- Average Number of Bedrooms and Baths was 4 Bedrooms and 3.5 Baths
- Lowest Listing Price was $178,000
- Average Listing Price was $438,900
- High Listing Price was $866,257
- Average Sale Price was $412,029
*I just read an interesting article on Trent Cluley’s blog regarding Jasper home sales for the first quarter of 2008.
1 user commented in " Historical Data for Big Canoe Community Resales "
Follow-up comment rss or Leave a TrackbackI fear the train is already running down the track and would like to see it stopped.
We need to reach the apathetic masses, including those who are absentee owners. This current board along with the economy is driving many people out of Big Canoe.
There are more properties for sale now than ever in the history of Big Canoe. Most are re-sales.
If Bill Byrne is smart enough to suspend his Potts Mountain effort because of economic and market conditions why should the POA board not take such economic pressures into consideration?
It makes no sense to take on a pile of major capital projects at a time when our funding base might actually be eroding. I do not know the numbers but there are also more houses in foreclosure in Big Canoe than ever in history. Financially strapped owners do not pay their bills.
While I appreciate the needs as well as the enthusiasm of the current board members, I also think we need some wisdom and caution in these decisions. It is not noteworthy nor is it praiseworthy that we went from a clubhouse that was originally slated at 4 million and now is likely to push 12 million.
I fear the seat of pants project management style without bids and adequate planning and change management will be the rule rather than the exception with the proposed capital projects.
As long as the money continues to flow, the board seems prone to spend it faster than it comes in. I would like to see Big Canoe POA set an example as a fiscally responsible organization rather than the perception of the “I don’t care idle rich!”