Here is your Bellasera Market update for DECEMBER, 2013.

FOR SALE

5

- Average Asking Price

$654,271

- Average Square Feet

2,912

- Average Asking Price per Sq. Foot

$225

- Average Days on Market

65

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$576,459

- Average Square Feet

2,440

- Average Asking Price per Sq. Foot

$235

- Average Days on Market

101

- SHORT SALES – LENDER OWNED

0

SOLD*

20

- Average Sales Price

$546,810

- Sales Price to List Price

97%

- Average Square Feet

2,458

- Average Sales Price per Sq. Foot

$218

- Average Days on Market

83

- Lowest Sale Price

$350,000

- Highest Sale Price

$775,000

- 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:  24,060 - compared to November of 23,705. 

There are 8,784 homes currently under contract compared to November of 8,868.

5,206 homes sold last month in the Valley compared to November of  6,285.

THE MARKET:  

 

image007

 

The inventory increased slightly last month. The market is flat – more days on market.

Elliott D. Pollack & Company specializes in Arizona economics and real estate feels the economy is improving, 2014 will be better than 2013 and as housing prices go up, more and more people will be able to sell their homes because they aren’t underwater.

CHART COMPARISON: BELLASERA TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

5

$225

    2

  $235

20

$218

                  0

Terravita (1,380 homes)

21

$252

              7

          $231

91

$214

                  4

Winfield (511 homes)

(*Custom Homes)

18

$235

    *6 - $319

              2

         $214

 *0 - $

27

$206

         *7 - $269

                  1

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 12/2/13).

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

 

85266 Zip Code

 

FOR SALE

 

 

          177

 

PENDING

 

 

38

 

TOTAL SOLD 2013

 

 

328

SOLD

SHORT SALE-

LENDER OWNED

For 2013

28

 

 

Average Price Per Sq. Ft.

 

 

$290

      

 

    $249

 

 

$207

 

 

$165

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website “Market” for Housing Market Updates)

Median sales price forecast to remain flat in November
This article covers ARMLS stats for October, plus a forecast for November:
- 14.1 percent: The percentage increase in the number of homes for sale compared with October 2012.
- 21.8 percent: Increase in median listing price from October 2012.
- 53.9 percent: The drop in pending foreclosures during the past year.
- 5 days: How much faster a home sold a year ago.
"Looking ahead to November, the pending price index predicts the median sales price will remain flat," said Tom Ruff, analyst for ARMLS.
Read more ...

The Fed's tippy-toe taper plans could not be more clear
Last week, Ben Bernanke laid out where the Fed's been, where it is now, and setting some wide boundaries for what lies ahead.  The Fed will reduce slightly its purchases of Treasurys and mortgage-backed securities upon any fig leaf of improving data, and then see how markets take tiptoe tapering.  The Fed's first try was jawbone-only in May and June.  Bernanke said the resulting jump in long-term rates "was neither welcome nor warranted" in the judgment of the Federal Open Market Committee.
Read more ...

Phoenix being called one of America's comeback cities
For a long time the sunny weather in Phoenix and Orlando was matched by their economic climates, as both enjoyed soaring housing prices and prosperity in the early 2000s.  Then the Great Recession jolted the cities.  However, both cities not only climbed back but used the downturn as an opportunity to strengthen the resilience of their economies and promote future growth.   The two cities' recoveries have much in common, including an emphasis on technology and renewed focus on education, quality of life, environment- and business-friendly policies and incentives, infrastructure and civic involvement.
Read more ...

'Resurgent Housing Sector' to Lead 2014 Economic Recovery
Mortgage giant Freddie Mac is expecting a good 2014 for housing. Economists predict a much stronger economic recovery will take hold next year, "led by a resurgent housing sector," according to Freddie Mac.  Economic growth is expected to be in the 2.5% to 3% range, more than half a percentage point better than what is expected for this year.  Economic growth will help spur more jobs.  Freddie predicts that in 2014 single-family home sales and housing starts will reach their highest levels since 2007.
Read more ...

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

 

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