Ibis Golf and Country Club Homes for Sale

Professional Page- Year end 2008


 

 

With 26 listings sold in 2008, The Telchin Group continues to be the definitive sales leader in Ibis, having sold almost twice as many listings as its closest competitor and more than eight times as many as the third place listing agent. Additionally, The Telchin Group has sold more resale listings than the second, third, fourth, fifth and sixth placed listing agents COMBINED.


The Telchin Group is not only Number One in Listings Sold, but Number One in Sales of Other Agents’ Listings. No other agent, nor team of agents, has sold more Ibis homes in 2008 than The Telchin Group.


In 2008, 3 resale Ibis homes sold for more than $1 Million. The Telchin Group was the listing agent for two of these three million dollar resale Ibis homes.

 

The 2008 Ibis real estate market tells a mixed story. There was a 25% decrease in the number of Ibis homes sold compared to that of 2007. Additionally, homes took 27% longer to sell than in 2007. However, approximately 10% of homes in Ibis are for sale: a number typically characterized as “normal” in a healthy real estate market.


In The Telchin Report, you will see diagrams illustrating supply and demand of Ibis homes, cost per square footage, listings sold by listing agent, sales by price range, average time on market and the top selling Ibis neighborhoods.


Based on this report, you will see that although we faced many challenges in this complicated market, homes in Ibis have been, and are, selling.


There is no question that the Ibis real estate market faced more challenges than ever in 2008, and we are likely to see such a continuation in 2009. Although we cannot affect global economic trends nor general market conditions, we can find ways to communicate the inherent value Ibis presents. After all, Ibis offers affordable luxury like no other community in South Florida. With the ongoing development of our four marketing channels (Direct Mail, Newspaper, Internet and Email) we are finding the most effective ways to reach buyers meaningfully and consistently. We continue to work harder than ever to sell homes in this magnificent community.

If you have any questions or would like to discuss this dynamic real estate market, please contact us at your convenience. Email The Telchin Group

 

 
 

Supply and demand accurately depicts the Ibis resale market from 2005 to 2008. In 2005, there were 30 resale homes for sale. The number of unsold resale homes skyrocketed to 240 homes at the beginning of 2007. Supply of homes decreased throughout 2007 to approximately 150, and climbed to 180 in the last quarter of 2008, which is roughly 10% of all homes in Ibis. In 2008, 86 homes sold, which is 30% less than 2007 and 17% more than in 2006. In 2008, demand for Ibis homes was approximately half of what it was in 2005.

 

 
 
 

The change in cost per square footage for Ibis homes since 2005 reflects two things: 1. Declining market conditions and 2. Shifts in sale trends. We experienced a 16% decrease in cost per square footage from 2006 to 2007 because of market deterioration and an increase in sales under $400,000. In November, 2007, the club’s mandatory membership requirement urged many new buyers in the lower price ranges to buy before the rule took effect, causing an increase in sales under $400,000 and a decrease in cost per square footage for 2007 (lower priced Ibis homes have a lower cost per square footage, on average). In 2008, average cost per square footage increased 5% from the previous year, as there was a lower percentage of sales in the lower price ranges (where cost per square footage tends to be lower) and more sales in the higher price ranges (where cost per square footage tends to be higher).

 

 
   
     
 
 

In 2008, 73% of Ibis homes sold under $800,000. Half of all 2008 sales were under $400,000. This diagram illustrates a consistent trend in each price range’s market share from 2005 to 2008. 2006 is an exception to this phenomenon, where a higher percentage of homes sold above $800,000.

 

   

 
 

In 2008, Ibis homes took 63% longer to sell than they did in 2005. In 2005, a home took approximately 5.2 months to sell. In 2008, the average home took 8.5 months, a 27% increase in time on market from 2007.

 

 
   
 

 

 

 

The Telchin Group: Eric | Barbara | Steve | Sue