Timeshare resales prices show signs of a slight recovery when comparing 2008 and 2009 resales data at Stroman Realty. Sales data from the 2009 secondary market revealed a 4/10th of a percent increase in prices from 2008. Although their August report said that the average timeshare resale price showed a larger percentage bounce, last quarter 2009 sales prices resulted in an almost flat price performance for the year.
The 2009 worldwide timeshare resale average prices are 14% ahead of the 2005 results at Stroman Realty. During the same period, U.S. existing home sales prices decreased.
The stock market has showed a major rebound with the New York Stock Exchange boasting highs on the first trading day for the 2010 year. In the business of selling timeshares on the secondary market. Mr. Stroman believes it will take longer to see prices return to the 2007 levels. This year could reveal marginal gains realized again. For 2011 and beyond, the timeshare market should see moderate inflation and increased construction prices that should pull up resale pricing bolstering the value in resale timeshare purchasing.
In 2009, the highest priced property sold was Marriott’s Mountainside in Park City Utah for $54,900 and closed by Coalition Title.
The state with the largest number of timeshare sales was California followed closely by Hawaii, then by Florida. Dominating the California timeshare resales list were Marriott’s Newport Coast Villas, Marriott’s Desert Springs Villas, Four Seasons Aviara, and Marriott’s Shadow Ridge. At the top of the Hawaiian timeshare resales list were Westin Ka’anapali Ocean Resort Villas, Marriott’s Maui Ocean Club and Marriott’s Maui Ocean Club. In 2009, Florida Marriott’s Grande Vista Resort beat out previous repeat top seller Sheraton’s Vistana Orlando.
The worldwide timeshare resale adjusted average sales price numbers for each of the last five years from 2005 through 2009 are as follows:
The 2009 average timeshare resale prices in some categories of interest were:
The California timeshare resale price was $9,092.41.
The 2 bedroom worldwide timeshare resale price was $9,669.14.
The 2 bedroom Hawaiian timeshare resale price was $14,401.20.
The 2 bedroom Caribbean timeshare resale price was $13,288.71.
For those who have been thinking of selling their timeshare this may be a good time to sell.
About Stroman Realty Inc.: Stroman is the largest and oldest timeshare resale broker in the industry with over 30 years of experience. Their advertising reaches millions of potential clients annually through in-house direct mail campaigns; internet exposure; local, national and international media; timeshare auctions; co-broker and resort referrals. Stroman Realty sells timeshares every day through their website http://www.timesharelink.com. All of their Timeshare Resale Specialists are Licensed Real Estate Agents and are members of the National Association of REALTORS®.
About the author: Wayne Stroman currently sits on the Board of Directors for the National Association of REALTORS®. NAR has over 1.1 million members. He also sits on the Board of Directors for the Houston Association of REALTORS® and is Vice Chair. HAR is the largest local REALTOR® organization in the nation as well as the largest trade association in Houston with over 26,000 members. In addition, he also sits on the Board of Directors for the Texas Association of REALTORS® and is a Regional Vice President for Region 14.
He was Chairman of the HAR International Council (2005-2006) and the HAR Technology Task Force for (2004). He was past Chairman of the HAR MLS Advisory Group (2003); and past Chairman of the HAR Statistical Information Subcommittee (1997). He also served on the MLS Advisory Group Committee (1990-94 & 1997-2008); and the Y2K Task Force (1998-2000).
Mr. Stroman served on the TAR Issues Mobilization Committee (2005-2007); TAR Member Benefits Task Force (2005-2010), Committee Chair (2006); and was on the TAR International Task Force (2003); International Committee (2007-2010) the TAR Condominium Committee (1985); Technology Committee (2008-2010); Omega Tau Rho Fraternity Achievement Award 2004.
He was also a member of the National Association of REALTORS® Multiple Listing Service Issues and Policies Committee (2003-2005); the past Chairman of the NAR Resort Real Estate Forum (2003); and a member of the Resort and Second Home Real Estate Committee (2003 and 2006-2007); Global Business Alliances Committee (2008-2010); and CIPS Advisory Group (2007-2008).
Wayne Stroman is the broker and President of Stroman Realty, Inc. and can be contacted at 1-936-588-7044. His complete biography can be viewed at http://www.timesharelink.com/wayne-stroman-bio.asp.