2011 - END OF YEAR REPORT - COUNTRY CLUB ESTATES

Half of the six SFH sales in Country Club Estates  happened in the fourth quarter.  Laurel Street seemed to be the big winner with four of the six sales.  314 went for $985,000 after 1449 DOM, 322 went for $560,000  after 114 DOM, 333 went for $600,000 after only 65 DOM, and 327 went for $550,00  after 430 DOM.  In addition to that, 310 Munson went for $825,000  after 107 DOM and 304 Country Club Drive went for $675,000 after 279 DOM.  That's an average selling price of $699,167 and an average DOM of 407.  Sellers got an average of 84% of their original asking price.  There are no homes currently under contract and there are four active listings from $550,000 to $739,000.  (I did see today where 327 Munson Street went under contract - the one for $739,000 - how about that James) so this will bring it down to three active.  A couple were withdrawn in Q4.  The average days on market for the active listings is 280.  Country Club Estates continues to be one of the best performing communities within the Rehoboth area.  There is also one Townhouse listed for sale for $449,000.  No townhouses sold in 2011, there has been only the one on the market.  Two sold in 2010 for $415,000. I hope the Q4 momentum continues into 2012. For comparison purposes, in 2007 there were 9 SFH closings with an average selling price of $719,889 and 234 DOM.  In 2008 there were only 4 SFH closings with an average selling price of $726,875 and 243 DOM, in 2009 - 12 SFH closings at an average of $579,450 and 317 DOM, in 2010 there were 8 closings at an average selling price of $683,375 and 231 DOM.  Except for 2009, very consistent.