Jodi Gross from DVC Resale Market joins the show to discuss current trends in DVC sales. January 2021 was an excellent month with sales prices rising and sales volume staying strong at 500 contracts sold.
Our information comes from DVC Resale Market's monthly financial blog posts. https://www.dvcresalemarket.com/blog/dvc-resale-average-sales-prices-for-january-2021/ and https://www.dvcresalemarket.com/blog/dvc-right-of-first-refusal-report-rofr-january-21-report/.
Overall prices rose in January and inventory normally surges in January; however, sales have exceeded listings this year. We suspect many families are holding on to their DVC contracts in hopes of a future vacation once pandemic comes to a close.
The interesting story in ROFR last month was not so much the prices that we bought back but the number of Bay Lake Tower contracts that Disney bought back. 24 of the 57 Bay Lake Contracts sold last month were purchased by DIsney through the Right-of-First-Refusal clause in the DVC membership contract. While Bay Lake is frequently bought back, we usually do not see 47% of the contracts sold get taken by the mouse.
As always, a huge shout out to Will Lavato over at DVCNews.com for his original research and analysis of public deed recordings. We referred to this post in today's show. https://dvcnews.com/dvc-program/financial/news-34867/4957-direct-sales-start-slowly-in-january-2021. DVC Resale Market post 500 sales last month in all 16 resorts. Will only has access to deed registry information in 15 timeshares. Direct sold 621 contracts with at least times the sales team. This speaks volumes as to the value and popularity of DVC product on the resale market. When you start to piece in these three stories, you start to see the Rise of Resale in January 2021 and the Fall of DVC Direct sales. We don't know what's holding back direct sales. It may be consumer reaction to the Riviera resale restrictions or it may be as simple as fewer first-time visitors are coming into the parks. Many members learn about DVC from visiting Walt Disney World and we know attendance is down due to the pandemic.
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