Old Greenwood Fractional Market UpdateAbby Hogan, October 20, 2014 in Old Greenwood
The previous 60 days have been productive for Old Greenwood fractional share sales. With 14 re-sales sold and a few withdrawn listings, the active inventory is down from 105 shares two months ago to just 88 shares today (and from a peak of 108 listings in July). Prior to two months ago, there were 27 fractional shares sold in 2014, which makes 41 fractional sales year-to-date for 2014.
Coincidentally, 41 is the total number of re-sales for all of 2013. The total dollar volume for those 41 sales was $1,024,650 (vs. $1,214,200 list price). Total dollar volume for the 41 sales so far in 2014 is $986,600 (vs. $1,182,840 list price), a decrease in value of about 4% from last year. This is consistent with what we are seeing in individual share sales; continued softness in pricing is based on an oversupplied market and buyer wariness due to ongoing litigation from the HOA. We are looking for a strong winter to keep up the sales momentum at Old Greenwood and turn around declining values.
Here is a list of all Old Greenwood fractional share properties sold over the last 60 days. Please do not hesitate to contact me for more detailed information regarding ownership at Old Greenwood,