[vintageogauge]

Originally Posted by Altavia

REAL ESTATE MARKET UPDATE
THIRD QUARTER 2023
Community-Wide Results by Properties of The Villages

I don't quite understand the differences between sold and pending, especially on new homes as they close very quickly also the difference between pending and contingent, would a home that is contingent be pending and why are so many homes pending? If the year to date pending homes become sold homes that is a ton of homes being sold.

[HandyGrandpap]

Thank you OP for sharing the Market Update data:
I read in other well meaning threads that the Villages Real estate market is in a downward spiral. The data provided by the OP does not validate that hypothesis. OP's data shows a strong market, perhaps I am missing something, if so please add your comments.

[Altavia]

Originally Posted by vintageogauge

I don't quite understand the differences between sold and pending, especially on new homes as they close very quickly also the difference between pending and contingent, would a home that is contingent be pending and why are so many homes pending? If the year to date pending homes become sold homes that is a ton of homes being sold.

A pending sale in real estate simply means that the seller has received and accepted an offer on their home. However, the deal is not yet finalized — hence “pending” and not simply “sold.”

Suspect custom built homes that are under contract but several months away from closing could be in this "pending" category?

Contingent means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met. I'm under the impression Villages does not agree to contingent contracts.

[Altavia]

Originally Posted by HandyGrandpap

Thank you OP for sharing the Market Update data:
I read in other well meaning threads that the Villages Real estate market is in a downward spiral. The data provided by the OP does not validate that hypothesis. OP's data shows a strong market, perhaps I am missing something, if so please add your comments.

Q2 results are at the link below, very little difference.

Villages real estate market update second quarter 2023

[BrianL99]

Originally Posted by Altavia

Q2 results are at the link below, very little difference.

Villages real estate market update second quarter 2023

350 homes a month are being sold?

I guess there's still a thriving market in TV.

Does anyone know if those statistics are just for The Villages Real Estate or if they also include re-sale homes from MLS? Just curioius.

[Altavia]

Originally Posted by BrianL99

350 homes a month are being sold?

I guess there's still a thriving market in TV.

Does anyone know if those statistics are just for The Villages Real Estate or if they also include re-sale homes from MLS? Just curioius.

Villages only, without Middleton.


MLS sales are additional.

[BrianL99]

Originally Posted by Altavia

Villages only, without Middleton.

MLS sales are additional.

So there are 100+ homes sold, every week? That's a lot of buying & selling, with interest rates as the are.

[MrChip72]

I found the accompanying map that the OP did not post to be somewhat interesting for what "Brownwood area" includes. Basically, everything new that they're selling even homes that are a 30 min golf cart ride away from Brownwood Paddock. Seems to me they should've separated that out as "Sawgrass area" for anything East of Morse blvd at least.

[margaretmattson]

The information provided does not tell the entire story. How many in the count were residents who sold their home and bought another in the Villages? How many were sold or bought for investment? How many homes sold below average and where are they located? (I can go on) These are important facts we will never know. A quarterly sales report is not the determiner of a crash or booming market. There are many variables that come into play.

Here is ONE example that all of us should keep in mind. Remember the early 2000s when the market was booming and it looked like there was no end in sight? 2008! Boom! Catastrophic crash! It can happen, folks! Whatever you do, never place all your eggs, hopes, and wishes in one basket. And, never allow one sales report convince you EVERYTHING is great. It is the information not provided that could possibly cause a crash. Call me Mrs Doom and Gloom but this is the reality.

[BrianL99]

Originally Posted by KsJayhawkers

Mrs. Doom and Gloom,

Have you called TV Property Management and asked those questions? Their phone number is (352) 753-4000.

How many in the count were residents who sold their home and bought another in the Villages? These numbers are reflected in the pre-owned sales data. It doesnt matter if Sam sold his house in Spanish Springs and purchased a pre-owned in Osceola Hills, the data would still indicate two pre-owned homes as sold.

How many were purchased as an investment? The sales numbers would still reflect the home as being sold.

Below average sales? Although not directly in the sales report, this data can be obtained through Sumter County.

2008 Crash...The Villages says bring it on!!! As you can see in the attached graph, the 2008 crash had little effect on home pricing in TV.

You're exactly right. The numbers speak for themselves. Some folks have such a need to express an opinion and sit at their keyboard, they won't let reality or facts, stand in their way.

The housing market in TV (& most of the USA) is still reasonably strong. Obviously, higher interest rates have had an effect, but the basic tenants of Economics 101, remains the same ... supply & demand, drives a market. Some folks want to sell, some folks want to buy. The Villages remains the only community of its type in the USA and generally deals with a demographic that is nearly immune to minor fluctuations in the economy.

[MikeN]

Again, anything south of Sawgrass doesn’t exist in this report yet we seem to be the fastest growing area of the villages. Oh well, maybe next year

Originally Posted by Altavia

REAL ESTATE MARKET UPDATE
THIRD QUARTER 2023
Community-Wide Results by Properties of The Villages

[margaretmattson]

Originally Posted by KsJayhawkers

Mrs. Doom and Gloom,

Have you called TV Property Management and asked those questions? Their phone number is (352) 753-4000.

How many in the count were residents who sold their home and bought another in the Villages? These numbers are reflected in the pre-owned sales data. It doesnt matter if Sam sold his house in Spanish Springs and purchased a pre-owned in Osceola Hills, the data would still indicate two pre-owned homes as sold.

How many were purchased as an investment? The sales numbers would still reflect the home as being sold.

Below average sales? Although not directly in the sales report, this data can be obtained through Sumter County.

2008 Crash...The Villages says bring it on!!! As you can see in the attached graph, the 2008 crash had little effect on home pricing in TV.

I have been in sales all my life. It does matter! Most obvious: A Q3 report does not mean the Q4 (and those following) will bring in the same numbers. I read posts and I believe someone stated an average of 350 homes were sold each month. Altavia told someone on another thread, 50 homes were scheduled to close in one week in October. That is a significant drop from the 85(+ or - )homes sold in a week in prior months.

If all the below average price homes are in the same area (my guess would be homes farthest north) that could possibly mean a crash is beginning in that area. In time, that crash could affect the entire Villages.

If, for example,15% of homes were bought by residents relocating to another Village and 15% were bought for investments, that means over 100 homes per month sold were not new residents. A crash can happen if new buyers are no longer interested in purchasing in the Villages.

If there are a quite a bit of corporate investors buying up a chunk of homes on speculation, this too, could possibly cause a crash.

I could go on.....

If I gave a quarterly sales report to a bank requesting a business loan, they would laugh at me and ask for more information. GUARANTEED. If I wanted to add a partner, they too would ask for more information. One sales report does not give the overall picture.

I have no need to call mgmt. I do not have all of my eggs in one basket and I certainly am not charmed into believing ONLY what a quarterly sales report shows. I was here in the crash of 2008. Were you? I know what actually happened and no one is going to convince me otherwise.

[dewilson58]

Originally Posted by BrianL99

350 homes a month are being sold?
I guess there's still a thriving market in TV.

Bingo.

Poor Negative Nellies in other threads......................hoping TV is crashing, hoping the developer if failing, trying to spread their sad life.

[asianthree]

Originally Posted by Altavia

A pending sale in real estate simply means that the seller has received and accepted an offer on their home. However, the deal is not yet finalized — hence “pending” and not simply “sold.”

Suspect custom built homes that are under contract but several months away from closing could be in this "pending" category?

Contingent means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met. I'm under the impression Villages does not agree to contingent contracts.

New homes are closed on their date, (30days) or fines are compounded daily.
Pending for them mean if buyer chooses to back out developer keeps the down. There are zero contingencies.

Custom homes (designers & Premier) are never on the radar to the public, only the buyer. House never shows pending on any site. Only in sold columns.

Preowned can close as soon as ink dries (think days for cash) or as far out as multiple months, if the one year built is in the mix. Those showing pending as soon as agent decides when to post.

[asianthree]

Originally Posted by margaretmattson

I have been in sales all my life. It does matter! Most obvious: A Q3 report does not mean the Q4 will bring in the same numbers. I read posts and I believe someone stated an average of 350 homes were sold each month. Altavia told someone on another thread, 50 homes were scheduled to close in one week in October. That is a significant drop from the 85(+ or - )homes sold in a week in prior months.

If all the below average price homes are in the same area (my guess would be homes farthest north) that could possibly mean a crash is beginning in that area. In time, that crash could affect the entire Villages.

If, for example,15% of homes were bought by residents relocating to another Village and 15% were bought for investments, that means over 100 homes per month sold were not new residents. A crash can happen if new buyers are no longer interested in purchasing in the Villages.

If there are a quite a bit of corporate investors buying up a chunk of homes on speculation, this too, could possibly cause a crash.

If I gave a quarterly sales report to a bank requesting a business loan, they would laugh at me and ask for more information. GUARANTEED. If I wanted to add a partner, they too would ask for more information. One sales report does not give the overall picture.

I have no need to call mgmt. I do not have all of my eggs in one basket and I certainly am not charmed into believing ONLY what a quarterly sales report shows. I was here in the crash of 2008. Were you? I know what actually happened and no one is going to convince me otherwise.

Yes here in “07” and going forward. Since the numbers only reflect VLS, you need to get a view of MLS stats. Then Zillow and other sites, for sold by owner.

Then one will still have an idea, but nit the Exact numbers you are looking for. Since, you Don’t have the ability or insight of Banks, Mortgage companies, and Cash info.

But if you really need a mind numbing project, you can spreadsheet a list every house for sale, on all sites, every month, then check Sumter, Lake, Marion, and so on to get the exact date closed, and dollars paid.