The real estate market in McCall had a rocky start in 2010 but as the year progressed it definitely picked up, especially in the fourth quarter. This trend seems to be continuing into the first quarter of this year.
McCall's housing market in 2010 was much better than the overall US housing market. The U.S. housing market decreased 4.7% representing its worst year since 1997. In comparison, homes sold in McCall increased by approximately 12%, to an annual rate of 215 homes at an average price of $267,470. Over 50% of the homes sold were bank owned, short sales or auctions. It is not clear how many unlisted bank-owned homes and potential foreclosures loom on the horizon that could push prices down.
A recent article in the Wallstreet Journal stated that sales in many vacation communities across the U.S. soared last years to levels not seen since boom times, driven by deep discounts, cash purchases and buyers' rising stock portfolio. We won't go as far as to say that McCall has increased to new highs, but we have definitely witnessed a renewed interest by buyers to purchase a vacation home in McCall.
Company: RE/MAX Resort Realty
Phone: 208-634-9469
Email: kevinb at remax dot net
