Bellasera Market Update

 

Dear Neighbors,

Here is your Bellasera Market Update for OCTOBER 2014

FOR SALE

5

- Average Asking Price

$700,580

- Average Square Feet

3,069

- Average Asking Price per Sq. Foot

$228

- Average Days on Market

83

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$513,700

- Average Square Feet

2,120

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

73

- SHORT SALES – LENDER OWNED

1

SOLD*

15

- Average Sales Price

$667,760

- Sales Price to List Price

96%

- Average Square Feet

2,903

- Average Sales Price per Sq. Foot

$229

- Average Days on Market

75

- Lowest Sale Price

$415,000

- Highest Sale Price

$885,000

- SHORT SALES – LENDER OWNED

0

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

The number of homes currently for sale in the Valley are:  24,082 - compared to AUGUST of 23,791.

There are 8,568 homes currently under contract compared to AUGUST of 9,447.

7,140 homes sold in SEPTEMBER in the Valley compared to JULY of  6,775.

THE MARKET:

The market has stalled as far as pricing.  The numbers continue to reflect a normal seasonal pattern - with Fall here, more homes are coming on the market.  We have about a 4 month supply of homes.  “An uncertain period of waiting for a decision or resolution.” That’s the definition of the word limbo and it perfectly describes our current market where low demand and a lack of new inventory have balanced the market into a standstill.

 

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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

$228

    5

  $240

15

$229

                  0

Terravita (1,380 homes)

22

$249

              4

          $237

57

$237

                  0

Winfield (511 homes)

(*Custom Homes)

16

$228

   

              3

         $232 

21

$212

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 10/7/14).

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

 

85266 Zip Code

 

FOR SALE

 

 

          174

 

PENDING

 

 

28

 

TOTAL SOLD 2014

 

 

223

SOLD

SHORT SALE-

LENDER OWNED

For 2014

6

 

 

Average Price Per Sq. Ft.

 

 

$275

      

 

    $216

 

 

$227

 

 

$178

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

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

HOUSINGwire.com, September 24, 2014 - New Single-Family Home Sales See Biggest Jump in 22 Years.  August increase to six-year high comes off disappointing July. Read more ...

REDfin.com, September 24, 2014 - Newly Listed Homes Fall a Unexpected 9.3% in August.  Prices continue to soften despite lower supply and strong buyer demand. Read more ...

AZcentral.com, August 25, 2014 - Ariz. Homebuying Slide Forces Builders to Deal.  New-home prices across metro Phoenix soared too high and too fast in 2012 and 2013 for many buyers to handle, leading to a slump in sales that has builders worried. Read more ...

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

 

 TO SEARCH FOR HOMES - CLICK HERE

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