In 2009 there were a total of 4 cabins sold in Glacier Springs. The sales ranged in price from $160,000 up to $245,000 with an average of $202,250. At the end of 2009 there were a total of 7 cabins available. The available cabins range in price from $158,900 up to $519,900. One of the reasons for the diversity in prices in Glacier Springs is due to the riverfront properties located along Canyon View Drive.

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Post tags: Glacier Springs

A closer look at the numbers for 2009

There were 8 cabins that sold in the Mt Baker Rim over 2009. The average selling price was $239,313 with an average days on market of 183. In addition to the 8 cabins, there were also a couple of manufactured/mobile homes that sold. (I don’t like to use these in my statistics as I feel that they skew the true prices of the cabins. The Mt Baker Rim used to allow manufactured and mobile homes, but do not allow them any more)

Moving to the present time, there are currently 12 cabins for sale in the Mt Baker Rim. The average price for these cabins is $336,608 with an average day on market of 152. What I find most staggering about these statistics is that the average listing price of cabins currently on the market is almost $100,000 more than the average sold price for the year. In fact, even the least expensive cabin listed for sale is $10,000 more than the average price of sold cabins for the year. This tells me that a lot of the sellers are asking far too much money for their cabins.

My advice to sellers

I hate to say it, but you might need to strongly consider a new strategy to sell your cabin. I personally sold over 20% of the cabins in Snowline and the Mt Baker Rim during 2009 and I have good feel for the market and what buyers are looking for. The buyers are not looking to spend over $300,000 for a cabin unless it is absolutely spectacular. Buyers are buying cabins in the $250,000 to $275,000 range.

My Advice to buyers

The average cabin that has sold this year was $239,313. We can work together and get you great cabin at a fair price. The market in the Mt Baker Rim is not weak, however the seller’s expectations are too high. There are not short sales or foreclosures affecting this market. You should expect to pay between $250,000 to $275,000 for a decent vacation get-a-way in this market.

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Post tags: Mt Baker Rim, Mt Baker Rim cabins

The National real estate market has taken some strong hits over the last two years, while the gated community of Snowline near Mt Baker has done fairly well. Earlier this year a past client of mine told me that he had lost a great deal of wealth in the stock market, but the vacation cabin that he had purchased from me was going to save him. While he recognized that he was not selling at the peak of the market, the equity that he had gained over just 5 years was the best investment that he had made since 2004.

Snowline Market Snapshot and Review

Before reviewing 2009, let’s look at the current market. At this time there are 9 cabins for sale in Snowline with an average days on market of 186 and average price of $337,857. There is a strong diversity in price among that available properties as there are some entry level cabin currently available as low as $175,000 ranging up to $499,000 for larger chalets. Realistically, 9 cabins is a very low inventory for Snowline. There are a total of 319 cabins and undeveloped lots in Snowline, so an inventory of 9 (plus 3 lots) is a very small percentage. This low inventory is a good sign for the overall real estate market in Snowline.

Looking back at 2009 in review, 6 cabins sold over the course of the year. The average days on market for sold cabins was 76 with an average sales price of $288,300. Looking at the days on market for cabins sold vs. available it becomes apparent that many of the cabins that are currently on the market are overpriced. With an average days on market of 186, there is technically an 18 month supply of inventory in Snowline, which is a very negative health indicator of a market, however I feel that these numbers are skewed because both number are so small in relation to the overall supply. In case example, I listed a cabin in February at a very reasonable price there was a bidding war and the cabin actually sold for over the asking price. This means that there are certainly buyers in the market, but they are only buying for the right price.

My Advice to Buyers and Sellers Right Now

For buyers, don’t be afraid to do a little negotiating on some of these cabins that have been on the market for several months. I have represented several buyers in the Mt Baker area this year and some of the sellers have taken strong discounts on cabins, while others have been stubborn. With 9 cabins currently on the market, there is enough inventory for you to find the right Mt Baker get-a-way.

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For sellers, selling a cabin in Snowline comes down to pricing it correctly and marketing the property with professional photos. The well priced cabins are selling and the overpriced cabins are not. If you are thinking about putting your Snowline cabin on the market, I strongly advise you to contact me first for a fair evaluation of your property. I will not only give you a realistic price, but I will help you prepare your property for sale.

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Post tags: Mt Baker, Snowline