This article contains our Fourth Quarter DVC resale report which includes Right of First Refusal (ROFR) and average sale prices from offers that were accepted and sent to ROFR during the months of October, November, and December 2021.
Average sale prices continued in an upward trend for most resorts as Disney continues to exercise their Right of First Refusal at higher rates. We did see a slight shift in focus this quarter, with less Saratoga Springs contracts exercised and more contacts at the older, “classic,” resorts being exercised. This typically indicates that an increase in Direct-Developer prices for the older resorts is coming in the new year.
Garden Views Realty (ResalesDVC) sold just over 18,000 DVC points this quarter with 37% of those being exercised by Disney’s Right of First Refusal. This is one of the highest ROFR rates we’ve seen in decades. As we settle into 2022, ROFR rates should come down a bit and stabilize at a more regular rate.
What is Disney’s Right of First Refusal?
The purpose of Disney’s Right of First Refusal (ROFR) is to control the value of their property. When there is an accepted offer and a signed contract, DVC will do an analysis of the terms of the contract and decide if they wish to “step in” as the buyer. The criteria DVC uses for ROFR is not public information but one important factor for exercising ROFR would be if they feel the selling price, including who pays closing costs and maintenance and taxes, is below the target price they have established.
When viewing the data below, keep in mind that individual sale prices can easily vary based on the size of the contract (in points) and the current point availability of the contract – “loaded” (having current points + banked points) or “stripped” (having no current points). Smaller point contracts tend to sell for around $10-$15 per point higher due to high demand and lower inventory. Prices below do not include closing costs or annual dues – two separate features to the sale terms.
|RESORT||Avg. Sale Price
|Avg. Sale Price
|DVC ROFR EXERCISED
|Animal Kingdom||$127||$131||160 points @ $134
300 points @ $110
|Bay Lake Tower||$161||$159||160 points @ $141
170 points @ $145
|Beach Club Villas||$163||$164||100 points @ $150
160 points @ $164
200 points @ $160
500 points @ $146
|Boardwalk Villas||$141||$147||400 points @ $146|
|Old Key West (2042)||$124||$120||150 points @ $102
150 points @ $110
190 points @ $110
210 points @ $115
230 points @ $115
250 points @ $105
265 points @ $108
330 points @ $125
|Old Key West (2057)||$139||$140|
|Riviera||$156||$148||200 points @ $141|
|Saratoga Springs||$124||$130||120 points @ $125
200 points @ $115
200 points @ $125
200 points @ $128
210 points @ $119
230 points @ $120
300 points @ $128
|Wilderness Lodge: Boulder Ridge||$104||$114||120 points @ $112.50
150 points @ $112
200 points @$113
200 points @ $115
232 points @$107
250 points @ $100
300 points @ $110
|Wilderness Lodge: Copper Creek||$161||$169||125 points @ $160|
SALES BY RESORT
Contract sizes sold this quarter ranged from 25 points up to 501 points with the average amount of points purchased being 161 points. The highest concentration of sales took place at Saratoga Springs, followed by Animal Kingdom, Bay Lake Tower and Old Key West (2042).
Working with a trusted brokerage with the knowledge and experience you need to make sure you get a fair price and have a successful purchase or sale is so important in times like these. If you are unsure of what you should offer or what you should accept as far as an offer goes, please contact us! We are here for you every step of the way. If you have any questions about Disney’s ROFR or want more details on a particular sale or resort, please email us at email@example.com or call 866-544-2919.