Andy Berry from DVC Resale Market joins the show to discuss the March 2022 recap for the resale market. In March 2022, Disney exercised their right of first refusal at an all-time high. We don't know if this was Disney stocking up before a direct price increase; or if more people are buying direct. Resale prices cooled off about a few dollars per point. Grand Floridian had a noticeable drop but that's because direct prices dropped from $245 to $207. Inventory remains slightly high.
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Average prices update from DVC Resale Market shows numerous properties down a few dollars. Personally, I need to see a 2-3 month trend before I call something rising or falling due to the standard deviation and minimal market fluctuations. We do know the resale market had to instantly respond to the price drop at Grand Floridian.
The ROFR monster was out of control last month. Last month they bought back 2 fewer contracts than they did the entire first three months of 2021. This is a good thing for keeping the prices high. As most buyers will put in an offer for another contract and one buyer essentially takes two contracts off the market.
Inventory rose about 5% from the previous month. We were just over 600 contracts on the market at our last recording and at 632 listings at the time of recording. That's about a 5-6 week supply of contracts at the current sales rate. An increase in inventory could lead to market pressures to start a downward trend. The parks are full. However, Disney leadership is making nationwide headlines (and not necessarily in a good fashion) and that could be leading more families to sell as the resale market is closely related to public sentiment towards Disney.
At this point, we do know the market has a lot of activity. DVC Resale Market is still matching buyers and sellers up and selling contracts at near-record highs. It's too early to tell if we have a market shift from seller's market to buyer's market; however, the next few months will provide more insight.
Episode Credits:
Today's show was produced, written, edited, and mastered by Chad Pennycuff.
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