A strong buyer’s market persists in McCall but sales are off to a decent start for 2008.
There are currently 279 single family/condominiums and fractional share properties listed for sale with 180 listings priced under $500,000, 69 between $500,000 and $1,000,000 and 30 properties are priced over $1,000,000. The selection is good in the McCall Real Estate market making this a great time to consider purchasing a vacation home or rental home.
What is selling?
Since January 1, 2008 in the McCall real estate market, 22 single family and condominium properties have closed compared to 16 properties for the comparable period one year ago. The median closing price to date is $275,000 with an average of 212 days on the market for the period ending March 14, 2008, and closing prices are averaging 92.8% of the most recent list price. For the period ending March 14, 2007 the 16 sales registered a median sold price of $331,250 with an average of 140 days on the market with closing prices averaging 95.4% of the most recent list price.
NOTE: days on market are calculated according to the current listing number. Many properities are relisted so the “list date” is freshened up which can distort this statistic.
Pending sales show what is selling currently – what appeals to the current pool of buyers and what is priced appropriately. Of the 10 pending sales in the McCall real estate market alone, 6 sales are listed under $310,000, with four pending sales in the $385,000 to $549,500 price range. Four of the ten properties are condominiums or townhomes.
We are seeing more and more well qualified buyers coming into McCall to explore good buying opportunites. While the inventory count is high, astute buyers remain cautious and look for a risk premium in their offering prices to cushion any further price deteriorations in our market. And the market is confusing, since many homes are priced over market while some are priced right on the money and represent good values.
