Trout Creek Market update:
My prediction all along has been that Trout Creek will lead Summerland out of it’s Real Estate funk… I have always been told by “smart money” that as California goes, so goes the U.S. (relatively speaking) I think that addage can be true of Trout Creek for Summerland’s market. Let’s see what Trout Creek is tellin’ us these days:
Of the 50 MLS Summerland residential sales ytd, 4 of these have been in Trout Creek. Of these 4, only one was a house, the other 3 sales have been vacant lots. There are 314 active MLS Summerland listings right now, 25 of which are in Trout Creek. Of those 25 in Trout Creek, only 15 of those are houses, and one is a farm/orchard. One of those house listings is pending with a back up offer presented.
The lowest price house is $299 and the highest price house is $2.399 for an estate home on the water.
So, I suppose Trout Creek’s 8% of Summerland sales contrasted with 8% of Summerland active listings that seems about fair and reasonable. The question is whether that 8% of Summerland’s market is going to start moving with a little more strength as our market starts to improve. Remember, last year at this time, ytd there were 50 sales in Summerland by now, and 10% of those were in Trout Creek, but ALL were houses, NONE were lot sales.
And, lest we need reminding, in 2008, the ytd sales for same period in Summerland
were: oh, it hurts just remembering this…
21 properties sold that year…less than half of todays activity for Summerland. All that to say…we are doing a lot better this year than 2 yrs ago, and I believe that this years market numbers are actually based on fundamentally improved market conditions rather than a Government induced change that triggered a “false flurry” last year at this time.
Will have to see, but based on activity and ad calls, web traffic, email inquiries, showings, offers and sales, Summerland seems to be getting itself pointed in the right direction for now.
Thanks for giving this a look
RE/MAX ORCHARD COUNTRY
250 486 2529
BTW Have a look at this new home construction where we are hosting a series of Open Houses, check back often…