The Ragatz Associates survey of private residence clubs and fractional real estate shows total sales of about $580m in 2023. This amount includes new closed sales, presales, and in-house resales at fractional resorts and developments and is the second highest sales level in the last 14 years. 

The breakdown of these 2023 North American sales is shown in the table below:

    Fractional Interests $55m
    Private Residence Clubs $525m

In the numbers above, Ragatz Associates assumes that product selling for less than $1,000 per square foot falls into the fractional interest category, and product selling for more than $1,000 per square foot falls into the private residence club category.

The total sales number of $580m is down just 7% below the 2022 numbers, but well above the average over the last dozen years. The highest sales were back in 2007 at $1,687m . 

To calculate these numbers, Ragatz reached out to 333 fractional interest projects and private residence clubs (prc). Of the 333 developments only 26 actually made any sales in 2023. Most of the inactive developments are older, sold-out fractional interest projects. Of the 26 active developments, 11 are fractional interest projects (product selling for less than $1,000 per square foot) and 15 are private residence clubs (product selling for more than $1,000 per square foot ).

Ragatz notes that "In 2023, the average annual sales volume in the 26 active projects was $5.0 million for fractional interest projects and $35.0 million for private residence clubs." As in other recent years there were a few (just three in 2023) private residence clubs that made much larger sales than the others, and if these are excluded the average for the other 12 developments drops to $5.25m. In other words, the three large projects averaged sales of over $150m each in 2023.

The most common share size in the fractionals is 1/8th (6 weeks of ownership) and for the prcs' 80% of projects offer 1/8th to 1/10th (about 5 to 6 weeks of use each year). The most common configuration of the units, is 2-bedrooms (25%), 3-bedrooms (29%) and 4-bedrooms (33%), with an average unit size of 1,835 square feet and the average shared-ownership project will contain 33 units.

Prices vary widely between projects. For fractional interest projects the average prices are $180,950 per share, equivalent to $29,350 per week and $740 per square foot. For private residence clubs, these averages are $861,500 per share, $100,100 per week, and $1,815 per square foot. Annual maintenance fees average $13,000 per share, ranging from $6,450 among fractional interest projects to $18,500 among private residence clubs.

The full report, with more detailed analysis, is available at the Ragatz Associates website for $300.

Note, the Ragatz Report covers resort type developments with multiple fractional units. It does not cover the various forms of shared ownership of standalone single family homes. The latter include residence funds or equity destination clubs, like Equity Residences and Destination M, that buy and share multiple homes amongst owners, and newer programs, like Pacaso and GoForth that enable sharing of individual homes.