Update on Home Sales!
Updated: Feb 4
Overview:No surprise but the pandemic has slowed home sales in the community. We have sold 23 homes as of Oct. 23 and have 3 sales pending for November. In 2019, we sold 33 homes during the year. We are seeing an increase in traffic and hope to have more homes sold by Dec. 31.
Co-op Owned Homes: This year, there has been only 1 co-op owned home sale and that is 117 Shoreland.
Although each year there seems to be a few homes given back to the co-op, that has definitely declined since the residents purchased the community. In Oct. 2013 when the residents purchased, they received 26 vacant homes with the purchase. So,the former park owner had 26 homes that were not generating revenue. By 2016, these homes as well as other homes that were given back were sold as we sold 6 co-op homes in 2014, 13 co-op owned homes in 2015 and 12 in 2016.
As a reminder, in this industry, there will always be some homes being turned over to the co-op. In 2017, three co-op owned homes were sold. In 2018, four homes were sold and 2019 there were three homes sold for the co-op.
Sometimes it may seem that the community is fighting an uphill battle with homes being given back to the co-op, but you are doing so much better than when the community was a rental park.
October Sales Information: 26 times homes were shown between Oct. 5 and 23 which has resulted in 3 sales. Of the 23 homes sold so far this year, 12 were real property and 11 were homes only. Currently, there are 7 waterfront homes for sale and 12 interior homes for sale for a total of 19 homes for sale. This is the smallest number of homes for sale that we have had and is a good sign as to the health of real estate in the community.
Canadian Homeowners: We are constantly asked if Canadians will be selling their homes. We have found that not to be the case. For most Canadians, a home in Florida is still an affordable vacation home. This year more Canadians are renting their homes and looking forward to visiting next year.