SEATTLE, WA (Aug. 2, 2017)
imeshare resale closings jumped 46 percent during the first five months of 2017, according to a mid-year snapshot of secondary market trends tracked by RedWeek.com, the world’s largest online community for timeshare owners and renters.
In addition to seeing a huge spike in resale closings, RedWeek’s mid-year report includes the following highlights:
- 90 percent of all resales involved timeshare weeks (compared to points).
- Resales of timeshare weeks rose 47 percent while points resales increased 35 percent during the first half of 2017 (compared to the same period of 2016). Postings overall increased 5 percent year-over-year.
- While the overwhelming majority of licensed real estate brokers typically charge $1,000 – $1,500 minimum commission, RedWeek’s full-service resale program only charges $399 (or 3%) on each successful sale. So far this year, RedWeek’s discounted commission structure has put an extra quarter-million dollars back in members’ pockets! Since January 2016, RedWeek members have pocketed an extra $750,000 attributable to the discounted commission structure.
- Among major brand names, Marriott Vacation Club continues to dominate the resale market, owning seven of the top 20 resale resorts. The most popular Marriott resorts, measured by resale closings, are Newport Coast Villas, Aruba Ocean Club, and Aruba Surf Club.
- The Vistana Signature Experience club (formerly Starwood) ranked #2 overall in timeshare closings. The Westin Lagunamar, Westin Kierland, and Westin Kaanapali have had the most resale closings during the first half of 2017.
- In terms of most-favored locations, Mexico, Florida, and California tied for the top ranking with 15 percent each, of all resale closings. Resorts in Aruba and Hawaii represented 10 percent each, of all resales tracked by RedWeek.com.
“Our mid-year report documents a very positive uptrend in resale activity nationwide,” said Gary Prado, RedWeek’s vice president of business development. “As we’ve seen in prior research, most of the resale closings involve brand name, high-value resorts at some of the most popular vacation destinations in the world.”
RedWeek.com has 2.4 million subscribers who can view thousands of timeshare resale and rental listings online 24/7. While many members prefer to handle transactions by themselves (the DIY model), more and more subscribers are taking advantage of RedWeek’s low-cost but verified Full Service Rental and Resale programs. These full-service programs were created to provide certainty and confidence for owners who were uncomfortable negotiating a resale or rental with an unknown third party.
RedWeek.com is the largest online community and marketplace for timeshare rentals and resales, boasting more than 2.4 million subscribers and an A+ Better Business Bureau rating. At RedWeek.com, you can find reviews, ratings, prices, availability, and complete resort description for all timeshare resorts worldwide, making vacation selection easier. Timeshare owners can make use of a variety of easy online tools to rent or sell their timeshare, and participate in forums to discuss important owner issues.
For more information about trends in the secondary market and RedWeek’s full-service programs, contact Jeff Weir at firstname.lastname@example.org, or call 310-801-3479.
PRESS RELEASE SOURCE: Redweek.com