Dear Neighbors,

Here is your Bellasera Market Update for JANUARY 2015:

FOR SALE

5

- Average Asking Price

$643,280

- Average Square Feet

2,771

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

134

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$405,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$219

- Average Days on Market

13

- SHORT SALES – LENDER OWNED

1

SOLD*

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

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:  22,855 - compared to DECEMBER of 24,815.

There are 6,878 homes currently under contract compared to DECEMBER of 8,345.

6,467 homes sold in DECEMBER in the Valley compared to NOVEMBER of  4,941.

THE MARKET:

There are many predictions for 2015 – most of them positive.  Some economists are predicting homes sales in 2015 to exceed 2014.  One reason 2015 will beat 2014 is that 2014 was not a great year when it came to home sales in Maricopa County.  The market is stable, but slow for showings and homes going under contract.  Predictions are that home prices in 2015 will increase 3%-3.5%.

Charts below are through November 2014:

image004

   -4.2% year-over-year       -18.9% month-over-month

image005

 

image010

image016

  +6.2% year-over-year average         +4.8% year-over-year median

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

$234

    1

  $219

  0

$0

                  0

Terravita (1,380 homes)

30

$243

             14

          $251

0

$0

                  0

Winfield (511 homes)

(*Custom Homes)

21

$221

    *2 - $330

              1

         $221

0

$0

         *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/2/15).

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

 

85266 Zip Code

 

FOR SALE

 

 

          211

 

PENDING

 

 

30

 

TOTAL SOLD 2015

 

 

0

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$284

      

 

    $223

 

 

$0

 

 

$0

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

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

Home Sales Expected to Improve in 2015, but Some Headwinds Still Remain - Existing-home sales are expected to be higher next year and prices will remain at a healthier level of growth…Read more ...

5 Housing Market Predictions for 2015 - A new year is about to dawn—and the outlook on the housing market is definitely brighter.  Read more ...

Phoenix homes among most overvalued in the country - A report from Fitch Ratings says metro Phoenix houses are more overvalued than those in Los Angeles or San Francisco.  Read more ...

The world may not be flat, but Phoenix's housing market is - The latest report from ASU real-estate guru Michael Orr notes demand remains sluggish in the Valley's home market.  Read more ...

Real Estate in 2015 - What to Expect: (Information compiled from U.S. News & World Report, PRNewswire,Washington Post)

  • Millennials will account for the largest number of first time home buyer sales
  • Baby boomers are also likely to make a move in 2015 to downsize or move closer to family members
  • Available inventory will be on the rise
  • New 3 percent down payment programs by Fannie Mae and Freddie Mac should put purchasing a house within the reach of more buyers
  • Existing home sales will likely increase by 8%
  • Home prices will likely go up 4%-5%
  • Mortgage rates will likely be at 5%
  • Home affordability may decrease by 5-10% (due to increased mortgage rates and home prices)

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

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