Bellasera Market Update


 

Dear Neighbors,

Here is your Bellasera Market update for FEBRUARY 2014

FOR SALE

9

- Average Asking Price

$680,122

- Average Square Feet

2,817

- Average Asking Price per Sq. Foot

$242

- Average Days on Market

31

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$699,450

- Average Square Feet

2,804

- Average Asking Price per Sq. Foot

$247

- Average Days on Market

57

- SHORT SALES – LENDER OWNED

0

SOLD*

2

- Average Sales Price

$565,000

- Sales Price to List Price

96%

- Average Square Feet

2,584

- Average Sales Price per Sq. Foot

$215

- Average Days on Market

103

- Lowest Sale Price

$415,000

- Highest Sale Price

$715,000

- SHORT SALES – LENDER OWNED

0

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

The number of homes currently for sale in the Valley are:  25,720 - compared to December of 24,060.

There are 8,972 homes currently under contract compared to December of 8,784 .

4,838 homes sold last month in the Valley compared to December of  5,206.

THE MARKET:     See Chart Below

image0077

Elliott D. Pollack & Company specializes in Arizona economics and real estate states: Housing price appreciation has slowed in recent months, but the pace that was being realized last year was not expected to continue.  Overall the price trend is still moving up.  Resale prices, according to data reported by the Cromford Report, are up 19.3% year-over-year”.

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)

 9

$242

    2

  $247

2

$215

                  0

Terravita (1,380 homes)

27

$262

              7

          $267

5

$228

                  0

Winfield (511 homes)

(*Custom Homes)

18

$230

    *4 - $346

3

$237

*1 - $292

4

$199

*1 - $212

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 2/3/14).

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

 

85266 Zip Code

 

FOR SALE

 

 

          201

 

PENDING

 

 

38

 

TOTAL SOLD 2014

 

 

24

SOLD

SHORT SALE-

LENDER OWNED

For 2014

1

 

 

Average Price Per Sq. Ft.

 

 

$272

      

 

    $249

 

 

$223

 

 

$165

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

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

W. P. Carey: Phoenix Housing Market Explained
The Phoenix housing market has seen its share of extremes, but today the market is regaining balance.  The supply of homes available for sale is going up and prices of those homes are stabilizing and in some cases, coming down, said Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business.  Current homes prices have reached what he termed normal: what prices would have been had they increased gradually over time with the Consumer Price Index.
Read more...

Phoenix Business Journal - Arizona foreclosure market ranks among healthiest 
Read more ...


azcentral.com - Freezing weather prompts new interest in living in Phoenix 
Read more ...  

azcentral.com - Phoenix-area housing market tilts in favor of buyers
The number of houses for sale in metro Phoenix has climbed almost 40% in the past year.  With many more properties from which to choose, the market is tilting away from sellers toward people looking to buy.  This is the case for certain areas more than others, including the northwest Valley and Pinal County.  In closer-in communities and in luxury enclaves, the number of potential buyers and sellers is about at break-even. 
Read more...

LA Times - New federal rule gives home buyers better access to appraisals 
A new federal rule could give millions of home buyers insights they've never had before about a crucial element of their mortgage application: the appraisal including the electronic cross-checks and reviews now used by lenders to determine the amount of the loan they'll approve.  Lenders will be required to inform mortgage applicants that they can receive a free copy of whatever appraisals, reviews, computer valuations and other data are used in the transaction.
Read more ...

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

 

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