We heard through the grapevine that we are no longer selling real estate – but it is just a rumor. We have not moved to Mesa or Tucson and are still loving and selling Bellasera.   We are but a phone call way!

 

FOR SALE

6

- Average Asking Price

$617,133

- Average Square Feet

2,474

- Average Asking Price per Sq. Foot

$256

- Average Days on Market

47

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$825,780

- Average Square Feet

3,138

- Average Asking Price per Sq. Foot

$266

- Average Days on Market

64

- SHORT SALES – LENDER OWNED

0

SOLD 2018*

18

- Average Sales Price

$584,578

- Sales Price to List Price

97%

- Average Square Feet

2,569

- Average Sales Price per Sq. Foot

$233

- Average Days on Market

113

- Lowest Sale Price

$410,000

- Highest Sale Price

$847,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2017*

30

- Average Sales Price

$603,407

- Sales Price to List Price

97%

- Average Square Feet

2,657

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

134

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently FOR SALE in the Valley: 17,238 - compared to MARCH of 17,402.

There are 12,769 homes currently under contract compared to MARCH of 11,626.

9,644 homes SOLD in MARCH in the Valley compared to FEBRUARY of 7,043 (out of the 9,644 homes that sold in MARCH – only 1,028 homes sold over $500,000 (11%.)

THE MARKET:

2018 is off to a good start! Interest rates are still low, inventory is very low and buyers are plentiful. It will be a good year to be a Seller - tougher to be a buyer!

If you would like to receive automatic email updates for Bellasera on when homes come on the market and when homes sell, please email us your email address and we will set you up to receive the alerts.

From ARMLS STAT REPORT for FEBRUARY 2018  published MARCH 22, 2018:

As stated last month, this is the time of year where the number of listings under contract increase daily and set up sales volume for April, May and June. March is the busiest month and was!

Charts below are through “FEBRUARY 2017”:

18-04-1

           -13.6% Month-over-Month                                                              +7.4% Year-over-Year

18-04-2

                         MSI – JANUARY 3.56                                                       MSI – FEBRUARY 3.15

18-04-3

                 -7 days Month-over-Month                                                 -1 day Year-over-Year

18-04-4

                 Year-over-year average  +7.9%                                    Year-over-year median  +9.8%

CHART COMPARISON: BELLASERA TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2018 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

  6

$256

      5

    $266

  18

            $233

                  0

Terravita (1,380 homes)

36

$256

         13

       $277

  36

$259

                  0

Winfield (511 homes)

 

  (*Custom Homes)

17

$241

 *5 - $285

            3 

       $218

  11

$230

    *1 - $279

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 4/14/18).

Below is a chart that just includes the Zip Code of 85266:

85266 Zip Code

 

FOR SALE

 

 

        268

 

PENDING

 

 

     75

 

TOTAL SOLD 2018

 

 

 142

SOLD

SHORT SALE-

LENDER OWNED

 

2

 

 

Average Price Per Sq. Ft.

 

 

$280

      

 

    $273

 

 

$246

 

 

$253

    *All Averages Includes Custom Homes

       

  *SEE   ATTACHED          

MARKET SUMMARY

REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

 

Steve and Joan Wallace

Steve’s Cell:  602-463-5254

Joan’s Cell:   602-361-8111

stevewallacehomes@cox.net

joanwallacehomes@cox.net

Blinklist!Blogmarks!BlinkBits!Ask!

Bellasera Market Update


 

Here is your Bellasera Market Update for MARCH 2018:

FOR SALE

7

- Average Asking Price

$737,114

- Average Square Feet

3,091

- Average Asking Price per Sq. Foot

$238

- Average Days on Market

100

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$634,840

- Average Square Feet

2,708

- Average Asking Price per Sq. Foot

$242

- Average Days on Market

61

- SHORT SALES – LENDER OWNED

0

SOLD 2018*

10

- Average Sales Price

$571,850

- Sales Price to List Price

97%

- Average Square Feet

2,498

- Average Sales Price per Sq. Foot

$234

- Average Days on Market

125

- Lowest Sale Price

$415,000

- Highest Sale Price

$847,000

- SHORT SALES – LENDER OWNED

0

 

 

 

SOLD 2017*

30

- Average Sales Price

$603,407

- Sales Price to List Price

97%

- Average Square Feet

2,657

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

134

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

 

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley: 17,402 - compared to JANUARY of 17,228.

There are 11,626 homes currently under contract compared to JANUARY of 7,766.

7,043 homes SOLD in FEBRUARY in the Valley compared to JANUARY of 6,213 (out of the7,043 homes that sold in FEBRUARY – only 656 homes sold over $500,000 (9%.)

THE MARKET:

A new year and what a difference from the last 6 months of 2017 (only 3 homes sold in Bellasera from July to December 2017).  Bellasera currently has 7 homes for sale – 5 homes are under contract – 10 homes have sold in 2018.  Inventory is very low and has been for the last 6 months.

If you would like to receive automatic email updates for Bellasera on when homes come on the market and when homes sell, please email us your email address and we will set you up to receive the alerts.

We have lived and sold Bellasera homes for 14 years – we are full-time Realtors who answer our phones – we know the Bellasera market and floorplans – we price your home to get the maximum value – we love Bellasera and love to sell it!  We are but a phone call way……..

From ARMLS STAT REPORT for JANUARY 2018  published FEBRUARY 16, 2018:

The selling season has begun. This is the time of year where the number of listings under contract increase daily and set up sales volume for March, April, May and June. Last year, these four months accounted for nearly 40% of all sales. So look in the mirror and repeat after Stuart Smalley, “I’m good enough, I’m smart enough, and doggone it, people like me!” It’s go time folks.

We begin February with 17,330 active listings not under contract, 14.8% fewer than the 20,330 in February of 2017. Low inventory and steady demand means prices will continue to rise. In January we saw a 2.5% increase in year-over-year sales volume and an 8.9% increase in the year-over-year median sales price. But low inventory numbers only tell half the story. To get the full story, we need a break down by price point.

Sellers control the lower price ranges while buyers have an abundance of choices at the top of the market. In January of 2017 ARMLS subscribers reported $1,668,131,788 in sales volume. This year saw $1,917,861,388 in sales volume, the highest dollar sales volume for January in the history of ARMLS.

As our new year starts to unfold, we’re entertaining two divergent theories as to what 2018 holds in its card.

There are two lines of thought:

1) Low inventory numbers will lead to higher prices and the higher prices, coupled with rising interest rates, will restrict demand and 2018 will see fewer sales than 2017.

2) Millennials, the driving force behind our market, are one year older and their appetites and ability to purchase is increasing. That,  coupled with an improving economy, will lead to increased sales in 2018.

Eventually the first proposition will play out. Tight supply will lead to an increase in prices, these higher pric­es will cool demand, lower demand will mean more supply and more supply means lower prices. The question is when? Exactly when will likely be determined by the strength of our local economy.

The Fannie Mae Home Purchase Sentiment Index® (HPSI) rose 3.7 points in January to 89.5, reaching a new all-time high of Americans surveyed. These are some key highlights:

• The net share who say it is a good time to buy a home rose 3 percentage points to 27%

• The net share who say it is a good time to sell rose 4 percentage points to 38%

• The net share who say home prices will go up rose 8 percentage points to 52%

• The net share who say they are not concerned about losing their job rose by 5

   percentage points to 73%

• The net share who say their household income is significantly higher than it was 12

    months ago remained at 16% from last month

 

Frank Nothaft, the Chief Economist at CoreLogic, added his two cents about homebuyer confidence.

“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1% by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective buyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

Credit Scores: The State of the Union

 

Experian just released their 2017 State of Credit update. Here’s a snapshot of where America is at credit wise.

 

“The economy seems to have mostly recovered from the 2008 financial crisis. Housing prices and foreclosure rates are back to normal, and the unemployment rate is at a historic low.

Consumer confidence hit a 17-year high in late 2017 and holiday sales jumped nearly 5% vs. 2016, the largest year-over-year increase since 2011, according to Mastercard’s SpendingPulse, which tracks retail spending — excluding autos — by all payment types. After a rocky few years, average credit scores began a steady climb in 2013. The average VantageScore was 675 in 2017, compared to 673 the year before and only four points from the 2007 average of 679.”

 

Charts below are through “JANUARY 2017”:

0318-1

           -14.0% Month-over-Month                                                              +2.5% Year-over-Year

0318-2

                         MSI – DECEMBER +2.83                                                       MSI – JANUARY 3.56

0318-3

                 -4 days Month-over-Month                                                 +7 days Year-over-Year

0318-4

                 Year-over-year average  +12.1%                                    Year-over-year median  +8.9%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2018 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

  7

$238

      5

    $242

  10

                $234

                  0

Terravita (1,380 homes)

35

$265

             17

           $262

  16

$262

                  0

Winfield (511 homes)

 

  (*Custom Homes)

14

$240

    *4 - $286

               3 

           $215

   *1 - $284

   8

$233

        *1 - $279

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 3/4/18).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          272

 

PENDING

 

 

61

 

TOTAL SOLD 2018

 

 

   77

SOLD

SHORT SALE-

LENDER OWNED

 

2

 

 

Average Price Per Sq. Ft.

 

 

$283

      

 

    $280

 

 

$245

 

 

$253

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

Blinklist!Blogmarks!BlinkBits!Ask!

Bellasera Market Update


 

Here is your Bellasera Market Update for JANUARY 2018:

FOR SALE

12

- Average Asking Price

$641,392

- Average Square Feet

2,715

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

105

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$655,000

- Average Square Feet

2,986

- Average Asking Price per Sq. Foot

$222

- Average Days on Market

93

- SHORT SALES – LENDER OWNED

0

SOLD 2018*

0

- Average Sales Price

$0

- Sales Price to List Price

0%

- Average Square Feet

0

- Average Sales Price per Sq. Foot

$0

- Average Days on Market

0

- Lowest Sale Price

$0

- Highest Sale Price

$0

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2017*

30

- Average Sales Price

$603,407

- Sales Price to List Price

97%

- Average Square Feet

2,657

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

134

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently FOR SALE in the Valley: 17,228 - compared to DECEMBER of 18,511.

There are 7,766 homes currently under contract compared to DECEMBER of 9,162.

7,204 homes SOLD in DECEMBER in the Valley compared to NOVEMBER of 7,186 (out of the 7,204  homes that sold in DECEMBER – only 688 homes sold over $500,000 (10%.)

THE MARKET:

2018 is off to a good start. Interest rates are still low, inventory is very low and buyers are plentiful.  It will be a good year to be a Seller.  There are only 17,228 homes for sale in the Valley - this is very low and the trend has been downward.

If you would like to receive automatic email updates for Bellasera on when homes come on the market and when homes sell, please email us your email address and we will set you up to receive the alerts.

We have lived and sold Bellasera homes for 14 years – we are full-time Realtors who answer our phones – we know the Bellasera market and floorplans – we price your home to get the maximum value – we love Bellasera and love to sell it!  We are but a phone call way……..

From ARMLS STAT REPORT for NOVEMBER 2017  published DECEMBER 20, 2017:

The hot housing topics of the day are the top predictions for 2018, low inventory levels, affordability concerns, bubble talk and decade low foreclosure numbers.

“A central theme for the 2018 housing market will be the continuing erosion of housing affordability”, accord­ing to Frank Nothaft, Chief Economist of Core Logic. Nothaft is basing his concerns on three economic factors he believes will further weaken affordability in the coming year: rising interest rates, rising home prices and the low inventory of starter homes for sale.

Nothaft does not give his opinion on the other side of the affordability equation: household income. If the economy grows jobs and increases wages, this of course would have a positive impact on home affordability. What happens to interest rates, home prices, job creation and wages in 2018 are all speculation at this point and my time traveler friend is not talking.

The one thing I do know is the 8% to 9% price growth we’ve seen in the median sales price over the last three Novembers is not sustainable. To put this in perspective we’ll employ the rule of 70. The rule of 70 is a way to estimate the number of years it takes for a certain variable to double by taking the number 70 and dividing it by the appreciation rate. At the 8.5% annual appreciation we’ve seen over the last three years in median price growth in November (70/8.5), prices would double in less than 8 years and three months.

Conclusion: Our current market is in balance and our median sales price is in line with our reported median household incomes. Our current appreciation rates will need to fall back in-line with our long-term appreciation rate.

How to Know When it is Time to Sell

Part of being a homeowner is dealing with the intermittent thought, "Hmm, maybe I should put my house on the market..."

Obviously, deciding to sell your home is no small decision. In fact, it's right up there with deciding to buy a home in the first place. Here are four indicators that can help you decide whether now actually may be a good time to list your home:

You're out of space. While it might be nice to have more room for your shoes, does that warrant a new home? On the other hand, is there a baby on the way? An in-law moving in? If your household is getting ready to grow, it may be time to move on to a house that will accommodate your expanding needs.

You're in a hot market. If "sold" signs are popping up frequently in your neighborhood and prices are rising quickly, it might be worth talking to your real estate agent. If now is the time you can potentially make a big return on your investment, you might want to consider making a move.

You're sick of yard work. If raking leaves and restaining the deck are no longer considered fun projects, you may be at a stage where you're looking to scale down to a more streamlined, less work-intensive living situation.

Your life has changed. If you've had a major life event - marriage, divorce, new job, retirement - it may necessitate a new home and/or a new location that makes more sense for your new life. Consider whether your current home is still the right fit.

Charts below are through “OCTOBER 2017”:

2018-01-1

           -2.7% Month-over-Month                                                              +4.0% Year-over-Year

2018-01-2

                         MSI – OCTOBER 3.19                                                        MSI – NOVEMBER 3.09

2018-01-3

                 +4 days Month-over-Month                                                 -6 days Year-over-Year

2018-01-4

                 Year-over-year average  +8.8%                                    Year-over-year median  +8.4%

CHART COMPARISON: BELLASERA TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2018 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 12

$240

      3

    $222

  0

                $

                  0

Terravita (1,380 homes)

35

$265

             10

           $276

  1

$302

                  0

Winfield (511 homes)

 

  (*Custom Homes)

14

$230

    *5 - $295

               5 

           $245

   *1 - $284

   1

$216

               *

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/5/18).

Below is a chart that just includes the Zip Code of 85266:

85266 Zip Code

 

FOR SALE

 

 

          246

 

PENDING

 

 

51

 

TOTAL SOLD 2018

 

 

   4

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$280

      

 

    $301

 

 

$190

 

 

$

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

Blinklist!Blogmarks!BlinkBits!Ask!

Here is your Bellasera Market Update for SEPTEMBER 2017:

FOR SALE

7

- Average Asking Price

$622,486

- Average Square Feet

2,527

- Average Asking Price per Sq. Foot

$249

- Average Days on Market

163

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$620,000

- Average Square Feet

2,816

- Average Asking Price per Sq. Foot

$220

- Average Days on Market

117

7- SHORT SALES – LENDER OWNED

0

SOLD 2017*

28

- Average Sales Price

$603,350

- Sales Price to List Price

97%

- Average Square Feet

2,640

- Average Sales Price per Sq. Foot

$233

- Average Days on Market

132

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  17,628 - compared to JULY of17,951.

There are 10,234 homes currently under contract compared to JULY of 11,278.

8,221 homes SOLD in AUGUST in the Valley compared to JULY of 8,021 (out of the 8,221  homes that sold in AUGUST – only 698 homes sold over $500,000 (8%.)

THE MARKET:

There are 7 homes for sale in Bellasera – the summer has been quite with only 1 home going under contract.  If you are thinking of selling, with Fall coming and so few homes on the market, now would be a good time!  We have lived and sold Bellasera homes for 14 years.  Give us a call for an analysis on the market and your home!

From ARMLS STAT REPORT for JULY 2017  published AUGUST 25, 2017:

The editor writes:  When I read the national news reports, I see instability and fear, but when I view our local numbers I see a com­pletely tame and healthy market highlighted by steady consistent growth. What makes our local housing numbers so remarkable the past year is just how consistent they have been.

If our housing numbers were viewed in terms of a personal medical report, most of our reporting numbers would be in the ideal range. Appreciation is outpacing inflation and, while it would be nice to see more new home construction in the entry buyer ranges, our overall numbers are very good. We have seen 68 straight months of year-over-year gains in the median sales price.

Charts below are through “JULY 2017”:

1709-1

             -16.4% Month-over-Month                                                              +2.9% Year-over-Year

1709-2

                         MSI – JUNE 2.35                                                        MSI – JULY  2.74

1709-3

                 -7 days Month-over-Month                                                  -10 days Year-over-Year

1709-4

                 Year-over-year average  +8.6%                                    Year-over-year median  +7.6%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2017 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$249

      1

    $220

  28

$233

                  0

Terravita (1,380 homes)

16

$257

               8

           $263

  51

$253

                  1

Winfield (511 homes)

 

  (*Custom Homes)

13

$235

    *1 - $411

               2

           $207

  * 2 - $230

   29

$230

        *1 - $267

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 9/5/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          182

 

PENDING

 

 

48

 

TOTAL SOLD 2017

 

 

273

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$267

      

 

    $278

 

 

$237

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

Blinklist!Blogmarks!BlinkBits!Ask!

Here is your Bellasera Market Update for SEPTEMBER 2017:

FOR SALE

7

- Average Asking Price

$622,486

- Average Square Feet

2,527

- Average Asking Price per Sq. Foot

$249

- Average Days on Market

163

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$620,000

- Average Square Feet

2,816

- Average Asking Price per Sq. Foot

$220

- Average Days on Market

117

7- SHORT SALES – LENDER OWNED

0

SOLD 2017*

28

- Average Sales Price

$603,350

- Sales Price to List Price

97%

- Average Square Feet

2,640

- Average Sales Price per Sq. Foot

$233

- Average Days on Market

132

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  17,628 - compared to JULY of17,951.

There are 10,234 homes currently under contract compared to JULY of 11,278.

8,221 homes SOLD in AUGUST in the Valley compared to JULY of 8,021 (out of the 8,221  homes that sold in AUGUST – only 698 homes sold over $500,000 (8%.)

THE MARKET:

There are 7 homes for sale in Bellasera – the summer has been quite with only 1 home going under contract.  If you are thinking of selling, with Fall coming and so few homes on the market, now would be a good time!  We have lived and sold Bellasera homes for 14 years.  Give us a call for an analysis on the market and your home!

From ARMLS STAT REPORT for JULY 2017  published AUGUST 25, 2017:

The editor writes:  When I read the national news reports, I see instability and fear, but when I view our local numbers I see a com­pletely tame and healthy market highlighted by steady consistent growth. What makes our local housing numbers so remarkable the past year is just how consistent they have been.

If our housing numbers were viewed in terms of a personal medical report, most of our reporting numbers would be in the ideal range. Appreciation is outpacing inflation and, while it would be nice to see more new home construction in the entry buyer ranges, our overall numbers are very good. We have seen 68 straight months of year-over-year gains in the median sales price.

Charts below are through “JULY 2017”:

             -16.4% Month-over-Month                                                              +2.9% Year-over-Year

                         MSI – JUNE 2.35                                                        MSI – JULY  2.74

                 -7 days Month-over-Month                                                  -10 days Year-over-Year

                 Year-over-year average  +8.6%                                    Year-over-year median  +7.6%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2017 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$249

      1

    $220

  28

$233

                  0

Terravita (1,380 homes)

16

$257

               8

           $263

  51

$253

                  1

Winfield (511 homes)

 

  (*Custom Homes)

13

$235

    *1 - $411

               2

           $207

  * 2 - $230

   29

$230

        *1 - $267

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 9/5/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          182

 

PENDING

 

 

48

 

TOTAL SOLD 2017

 

 

273

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$267

      

 

    $278

 

 

$237

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

Blinklist!Blogmarks!BlinkBits!Ask!

Here is your Bellasera Market Update for JULY 2017:

FOR SALE

5

- Average Asking Price

$660,480

- Average Square Feet

2,725

- Average Asking Price per Sq. Foot

$245

- Average Days on Market

174

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$644,900

- Average Square Feet

2,447

- Average Asking Price per Sq. Foot

$264

- Average Days on Market

110

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

27

- Average Sales Price

$603,104

- Sales Price to List Price

97%

- Average Square Feet

2,647

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

133

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  17,951 - compared to JUNE of 18,848.

There are 11,278 homes currently under contract compared to JUNE of 12,032.

9,616 homes SOLD in JUNE in the Valley compared to MAY of 9,824 (out of the 9,616  homes that sold in June – only 927 homes sold over $500,000 (4%.)

THE MARKET:

Only 5 homes for sale in Bellasera – I believe this is the lowest number we have had for many years.  As noted above with just 17,951 for sale in the Valley, the inventory has decreased each month due to home sales and homes going off the market for the balance of the summer.

From ARMLS STAT REPORT for MAY 2017  published JUNE 23, 2017:

On May 31st, NAR’s Lawrence Yun published an article entitled Pending Home Sales Scale Back 1.3 Percent in April. In his article Yun states:

“The Pending Home Sales Index, a for­ward-looking indicator based on contract signings, decreased 1.3 percent to 109.8 in April from a downwardly revised 111.3 in March. After last month’s decline, the index is now 3.3 percent below a year ago, which is the first year-over-year decline since last December and the largest since June 2014 (7.1 percent). Much of the country for the second straight month saw a pullback in pending sales as the rate of new listings continues to lag the quicker pace of homes coming off the market. Realtors® are indi­cating that foot traffic is higher than a year ago, but it’s obviously not translating to more sales.”

Rick Sharga of Ten-X echoed similar sentiments in a Housing wire article entitled Ten-X: Existing home sales to drop in May. The article warns that, “Two consecutive months of weaker existing home sales isn’t cause for panic, but it does suggest that forecasts calling for a robust housing market may have been too optimistic.” Ten-X Executive Vice President Rick Sharga weighs in too, predicting the combination of low inventory and home prices that rise faster than wage growth will slow down sales.

Charts below are through “MAY 2017”:

july17-1

             +11.3% Month-over-Month                                                              +11.1% Year-over-Year

july17-2

                         MSI – APRIL 2.79                                                        MSI – MAY  2.44

july17-3

                 -2 days Month-over-Month                                                  -2 days Year-over-Year

july17-4

                 Year-over-year average  +6.5%                                    Year-over-year median  +6.%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2017 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 5

$245

      1

    $264

  27

$232

                  0

Terravita (1,380 homes)

18

$267

             10

           $249

  41

$255

                  1

Winfield (511 homes)

 

  (*Custom Homes)

14

$227

    *1 - $269

               6

          $258

        * 0

   22

$223

        *1 - $267

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 7/9/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          199

 

PENDING

 

 

54

 

TOTAL SOLD 2017

 

 

213

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$262

      

 

    $284

 

 

$238

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

Blinklist!Blogmarks!BlinkBits!Ask!

Here is your Bellasera Market Update for JUNE 2017:

FOR SALE

7

- Average Asking Price

$665,200

- Average Square Feet

2,754

- Average Asking Price per Sq. Foot

$244

- Average Days on Market

112

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

4

- Average Asking Price

$751,255

- Average Square Feet

3,040

- Average Asking Price per Sq. Foot

$248

- Average Days on Market

199

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

24

- Average Sales Price

$583,075

- Sales Price to List Price

97%

- Average Square Feet

2,573

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

121

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  18,848 - compared to MAY of 19,010.

There are 12,032 homes currently under contract compared to MAY of 13,076.

9,824 homes SOLD in MAY in the Valley compared to APRIL of 8,803 (out of the 8,803 homes that sold last month – only 896 homes sold over $500,000 (9%.)

THE MARKET:

Bellasera is on track to have a great year – 24 homes have sold with 4 homes pending for a total of 28 homes sold during the first 6 months.  Out of 360 homes, only 7 are for sale. 

Out of the 18,848 homes currently for sale in the Valley, there are:

  1.    13,261 homes listed up to $500,000 w/10,461 homes that are single detached
  2.     5,613 homes listed over $500,000 w/5,243 homes that are single detached

It is a good time to be a Seller.

From ARMLS STAT REPORT for APRIL 2017  published MAY 23, 2017:

Sales volume in April 2017 was down 4.9% from March 2017. But, if you read the projections from last month, a month-over-month decline was expected as March had 23 business days while April only had 20. When we compare April 2016 to April 2017, sales volume this year was 4.5% higher. Our biggest concern is and remains the supply of homes below $200,000. In Maricopa County, we currently have only 3,229 listings for homes below $200,000. In April, 2,546 homes listed below $200,000 sold.

Sales volume for the first four months of 2017 is 9.4% higher than 2017, with 30,149 sales in 2017 compared to 27,554 for the first 4 months of 2016.

Charts below are through “APRIL 2017”:

april17-1

             -4.9% Month-over-Month                                                              +4.5% Year-over-Year

june17-2

                         MSI – MARCH 2.70                                                         MSI – APRIL  2.79

june17-3

                 -2 days Month-over-Month                                                  -2 days Year-over-Year

june17-4

                 Year-over-year average  +7.5%                                    Year-over-year median  +5.4%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2017 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$244

      4

    $248

  24

$232

                  0

Terravita (1,380 homes)

36

$262

               9

          $251

  35

$256

                  1

Winfield (511 homes)

 

  (*Custom Homes)

18

$234

    *3 - $258

               9

          $236

    *1 -$270

   16

$221

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 6/3/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          252

 

PENDING

 

 

58

 

TOTAL SOLD 2017

 

 

173

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$278

      

 

    $247

 

 

$234

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

Blinklist!Blogmarks!BlinkBits!Ask!

Here is your Bellasera Market Update for MAY 2017:

FOR SALE

7

- Average Asking Price

$752,543

- Average Square Feet

3,243

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

139

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$661,300

- Average Square Feet

2,506

- Average Asking Price per Sq. Foot

$267

- Average Days on Market

151

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

23

- Average Sales Price

$587,774

- Sales Price to List Price

96%

- Average Square Feet

2,610

- Average Sales Price per Sq. Foot

$230

- Average Days on Market

125

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  19,010 - compared to APRIL of19,821.

There are 13,076 homes currently under contract compared to APRIL of 12,782.

8,803 homes SOLD in APRIL in the Valley compared to MARCH of 9,264 (out of the 8,803 homes that sold last month – only 750 homes sold over $500,000 (9%.)

THE MARKET:

In the first 4 months of 2017, 23 homes have sold in Bellasera. Only 3 away from last year’s total of 26.  The smaller square footage homes are in demand – currently, there are not any homes listed under 2,700 sq. ft.  With only 7 homes for sale, now would be a good time to sell.

The demand for homes is still outpacing new listings with only 19,000 homes for sale in the entire Valley.   The SE Valley and the West Valley are both sitting at a 1 1/2 month supply of homes with Phoenix not far behind at 1 3/4 months of supply and Scottsdale at a 2 month supply.

Out of the 19,000 homes for sale, there are only 15,566 single family detached homes.   Buyers are having trouble finding good properties in the price range of under $500,000.  It is a good time to be a Seller.

 

From ARMLS STAT REPORT published APRIL 21, 2017 for MARCH 2017:

Sales continue to be hot, even taking into consideration the fact that we are in the high season. MLS sales volume for the first three months of 2017 was 11.54% higher than 2016. There were 21,483 sales reported in Q1 2017 compared to 19,261 for the first quarter of 2016.

Looking at public record resale sales volume in Maricopa County for the first quarter of 2017, we see that it was the third highest volume in the 19 years we’ve reported data. Only the peak bubble years of 2005 and 2006 had higher resale sales volume.

052017image005

Sales volume for the first three months of 2017 is 11.54% higher than 2016, with 21,483 sales in 2017 compared to 19,261 in the first quarter of 2016.

 

Charts below are through “MARCH 2017”:

052017image006

             +41.7% Month-over-Month                                                              +8.4% Year-over-Year

052017image008

                         MSI – FEBRUARY 3.85                                                         MSI – MARCH  2.70

052017image010

                      -5 day Month-over-Month                                                  -3 days Year-over-Year

052017image012

                     Year-over-year average  +7.9%                                    Year-over-year median  +6.6%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2017 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$234

      3

    $267

  23

$230

                  0

Terravita (1,380 homes)

46

$259

             10

          $250

  26

$263

                  1

Winfield (511 homes)

 

  (*Custom Homes)

28

$236

    *3 - $258

               4

          $223

             *0

   12

$221

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 5/2/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          294

 

PENDING

 

 

62

 

TOTAL SOLD 2017

 

 

128

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$273

      

 

    $287

 

 

$236

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

 

Steve and Joan Wallace – “Your Bellasera Realtors”

Steve’s Cell:  602-463-5254

Joan’s Cell:   602-361-8111

stevewallacehomes@cox.net

joanwallacehomes@cox.net

Blinklist!Blogmarks!BlinkBits!Ask!

Dear Neighbors,

Happy New Year! Here is your Bellasera Market Update for FEBRUARY 2017:

FOR SALE

14

- Average Asking Price

$670,543

- Average Square Feet

2,826

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

118

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

9

- Average Asking Price

$611,700

- Average Square Feet

2,537

- Average Asking Price per Sq. Foot

$245

- Average Days on Market

104

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

3

- Average Sales Price

$613,267

- Sales Price to List Price

96%

- Average Square Feet

2,799

- Average Sales Price per Sq. Foot

$221

- Average Days on Market

242

- Lowest Sale Price

$585,000

- Highest Sale Price

$668,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  20,371 - compared to JANUARY of 19,572.

There are 10,458 homes currently under contract compared to JANUARY of 8,144.

6,020 homes SOLD in JANUARY in the Valley compared to DECEMBER of  7,150 (out of the 6,020 homes that sold last month – only 485 homes sold over $500,000 (8%.)

THE MARKET:

What a difference a month makes – we now have 9 homes under contract!  In the first quarter, we could have 12 homes that have sold already this year – in 2016, a total of 26 homes sold.  We are on a roll…..let’s hope it continues!

Existing-home sales just completed an "outstanding" three-month run, according to National Association of Realtors Chief Economist Lawrence Yun. Can they add a fourth month to that streak? The industry will find out this week when NAR publishes the latest data. READ MORE

 

Golf is no longer king - but it still plays a big role in Phoenix-area real estate 

Surveys show golf no longer rates as a top amenity with prospective home buyers.  But a panel of industry insiders recently told The Arizona Republic that golf still holds an important place with many buyers. Golf-related residential real estate has been a key component in the Phoenix area since at least the 1960s. There are around 200 golf courses in the metro area. READ MORE

 

Grand Canyon State makes top 10 for attracting newcomers

Azcental.com reports that Arizona finished 10th in a survey by United Van Line for attracting new residents, the first time in a while Arizona has been ranked that high. United Van Lines has conducted the survey since 1977 and it is based on the moves the company handles. South Dakota was the top state for attracting new residents. New Jersey was the state with the highest number of households leaving.  READ MORE

 

From ARMLS STAT REPORT published JANUAY 25, 2017 for DECEMBER 2016:

It’s that time of year again! With 2016 behind us this is our annual year-in-review issue. Let’s start with two words: stable and improving. These two words continually came to mind as I reviewed our 2016 housing metrics. In our 2015 year-in-review we concluded that 2015 was the type of year you could build a career around as it was a very average year. From the outset, 2016 sales volume numbers were eerily similar to 2015, feeling like déjà.

By July, 2016 was being labeled 2015 the Sequel or maybe even Ground-hog Year. Through the first seven months of 2016 ARMLS reported 52,721 sales compared to 51,948 in 2015, a 1.5% increase. In August, the gap in sales volume began to widen. In the last five months of 2016 demand was 11.43% higher than the last five months of 2015. If 2015 was an average year, 2016 was slightly above average. In terms of the 16 years ARMLS has been reporting sales data, 2016 was the 7th best.

Charts below are through “DECEMBER” 2016:

20170201image010

             +3.4% Month-over-Month                                                              +4.4% Year-over-Year

20170202image012

                         MSI – NOVEMBER 3.63                                                         MSI – DECEMBER  3.20

20170204image012

                      -1 day Month-over-Month                                                  +2 days Year-over-Year

20170205image012

                     Year-over-year average  +5.2%                                    Year-over-year median  +5.6%

CHART COMPARISON: BELLASERA TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2016 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 14

$240

      9

    $245

  3

$221

                  0

Terravita (1,380 homes)

40

$267

              2

          $264

  7

$255

                  1

Winfield (511 homes)

 

  (*Custom Homes)

26

$238

    *3 - $267

               1

          $241

             *0

 2

$210

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 2/5/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          272

 

PENDING

 

 

31

 

TOTAL SOLD 2016

 

 

37

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$282

      

 

    $241

 

 

$240

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

Blinklist!Blogmarks!BlinkBits!Ask!

Dear Neighbors,

Happy New Year! Here is your Bellasera Market Update for JANUARY 2017:

FOR SALE

17

- Average Asking Price

$669,794

- Average Square Feet

2,828

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

115

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

4

- Average Asking Price

$594,750

- Average Square Feet

2,526

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

184

- SHORT SALES – LENDER OWNED

0

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2015*

20

- Average Sales Price

$612,225

- Sales Price to List Price

97%

- Average Square Feet

2,535

- Average Sales Price per Sq. Foot

$243

- Average Days on Market

106

- Lowest Sale Price

$373,000

- Highest Sale Price

$900,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  19,572 - compared to DECEMBER of 20,993.

There are 8,144 homes currently under contract compared to DECEMBER of 9,667.

7,150 homes SOLD in DECEMBER in the Valley compared to NOVEMBER of  6,903 (out of the 7,150 homes – only 559 homes sold over $500,000 (8%.)

THE MARKET:

Last January, we had 13 homes for sale with an average of 90 days on market compared to this year of 17 homes for sale with an average of 115 days.  Sales have been slow in Bellasera - I think in part to the new homes being built in North Scottsdale.

Analysts are indicating 2017 to be a good year for real estate – inventory is low, but interest rates are rising. 

Monday Morning Cup of Coffee: Reasons to be optimistic in 2017

This year is almost over, and housing industry experts are all making their predictions for 2017. Although not everyone agrees on what next year will look like after President-elect Donald Trump is inaugurated and in the midst of a rapid rise in interest rates, most economists have a positive outlook for next year. Read more ....

And the top real estate market for 2017 will be...

Top 10 markets for next year:  The National Association of Realtors predicts a booming real estate market in 2017. Now, a study shows just which markets will be at the top of the list when it comes to home sales and home-price growth. Read more ....

This chart shows the “National Home Price Changes” from May 2002 to November 2016.

201701-1image007

From ARMLS STAT REPORT published DECEMBER 23, 2016 for NOVEMBER 2016:

Home sales are up, interest rates are up, the stock market is up, fake news is up and speculation as to what it all means is up. Oh, and by the way, a presidential election took place.  In STAT this month, we are going to ignore the clatter and focus on two metrics which we think are related: a 28.1% increase in year-over-year sales volume and a 19% increase in mortgage rates.

On the surface these numbers are quite impressive and I’m certain in coming days will be hyped. We might even hear the phrase breakout month bandied about. There is reason to be impressed as November sales this year had the third highest resale home volume in the past 19 years according to tax records. The month was third only to 2004 and 2005 when our market was red hot. Accompanying the strong resale numbers, new home sales were up 43% year-over-year. The 1,298 new builds as reported by The Information Market accounted for their highest monthly total this year.

November sales numbers were strong, but not as strong as they appear on the surface. We didn’t have a breakout month. We made a lot of assumptions this month but we are confident that December sales will fall back to earth.

Charts below are through “NOVEMBER” 2016:

201701-2image007

             -2.5% Month-over-Month                                                              +28.1% Year-over-Year

201701-3image007

                         MSI – OCTOBER 3.59                                                         MSI – NOVEMBER  3.63

201701-4image007                     +2 days Month-over-Month                                                  -1 day Year-over-Year

201701-5image007

                     Year-over-year average  +6.0%                                    Year-over-year median  +8.1%

CHART COMPARISON: BELLASERA TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2016 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 17

$240

      4

    $240

  26

$232

                  0

Terravita (1,380 homes)

33

$269

              8

          $266

  85

$244

                  1

Winfield (511 homes)

 

  (*Custom Homes)

24

$237

    *2 - $255

               2

          $220

             *0

 21

$224

        *4 - $255

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/3/17).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          238

 

PENDING

 

 

38

 

TOTAL SOLD 2016

 

 

383

SOLD

SHORT SALE-

LENDER OWNED

 

8

 

 

Average Price Per Sq. Ft.

 

 

$291

      

 

    $252

 

 

$225

 

 

$147

    *All Averages Includes

            Custom Homes

        *SEE ATTACHED          

      STATISTICS REPORT

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

If you  want to downsize or upsize or buy a new build, give us a call –  we list and sell in many areas of the Valley.

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