Dear Neighbors,

Here is your Bellasera Market Update for MARCH 2015:

FOR SALE

14

- Average Asking Price

$632,086

- Average Square Feet

2,614

- Average Asking Price per Sq. Foot

$243

- Average Days on Market

78

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$594,667

- Average Square Feet

2,244

- Average Asking Price per Sq. Foot

$267

- Average Days on Market

50

- SHORT SALES – LENDER OWNED

0

SOLD*

1

- Average Sales Price

$832,500

- Sales Price to List Price

97%

- Average Square Feet

3,346

- Average Sales Price per Sq. Foot

$249

- Average Days on Market

74

- Lowest Sale Price

$832,500

- Highest Sale Price

$832,500

- SHORT SALES – LENDER OWNED

0

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

The number of homes currently for sale in the Valley are:  23,522 - compared to FEBRUARY of 22,960.

There are 10,604 homes currently under contract compared to FEBRUARY of 8,866.

5,982 homes sold in FEBRUARY in the Valley compared to JANUARY of  4,784.

THE MARKET:

From ARMLS STAT REPORT for January - From time to time there will be a set of numbers within STAT that just jumps at you.  This month it was the dichotomy of list prices and sale prices.

Over the past year, we’ve repeatedly discussed the remarkable stability in our home prices. When we removed all the distressed sales and compared only the normal sales between December 2013 and December 2014, we saw the price per-square-foot rose only slightly, 1.7% from $133.10 to $135.41.

When we compared January 2015 prices to December 2014 prices we saw a 1.2% decline in the median sales price and a 0.6% decline in the average sale price. As we continually state, these monthly anomalies are in no way an indication of declining prices, but only reiterate the remarkable price stability in our market. However, they do amplify the growing disparity between the price of properties listed for sale and the price at which properties are selling.

Why is the average list price so much higher than the average sales price? If the property being marketed is listed too far above market expectations, reality will manifest in the lack of showings and/or offers leading to a price change.

In reality, our market continues in a leisurely fashion highlighted by low demand and low supply.

Charts below are through “JANUARY” 2015:

  -0.3% year-over-year                                                -26.3% month-over-month

 

march2

MSI DEC 2014 - 3.84                                                                      MSI JAN 2015 - 5.67

feb3

march4

 +5.1%, year-over-year average                                +6.7%, year-over-year median

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2015 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

14

$243

      3

  $267

  1

$249

                  0

Terravita (1,380 homes)

30

$247

             13

          $245

23

$238

                  0

Winfield (511 homes)

 

  (*Custom Homes)

23

$224

    *5 - $342

               3

          $207

  4

$218

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 3/1/15).

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

 

85266 Zip Code

 

FOR SALE

 

 

          253

 

PENDING

 

 

44

 

TOTAL SOLD 2015

 

 

49

SOLD

SHORT SALE-

LENDER OWNED

 

2

 

 

Average Price Per Sq. Ft.

 

 

$281

      

 

    $235

 

 

$236

 

 

$152

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

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

NATIONAL HOUSING REPORT: Home Sales Start at Slower Pace: Like last year, 2015 home sales are starting the year at a slower pace. January home sales were 3.9 percent lower than sales in January 2014, according to the January RE/MAX National Housing Report. Last year, sales improved dramatically during the spring and ...Read more ...

For Your Client: How to Get Your House Ready for the Market 
First impressions are everything when it comes to selling a home. “Most people make up their mind whether or not they like a house within mere minutes ...Read more ...

AZcentral.com, January 13, 2014 – Experts: 2015 Should be Better Than 2014 for Housing: Metro Phoenix’s housing market ended 2014 on a low note with both home sales and prices down.  Read more ...

Realty Magazine - Credit Scores Explained Lenders want to give you a mortgage, but they also want to minimize their own risk. The easiest way to retard risk is by using your credit scores to make lending decisions.Read more ...

Realty Times - Raise Your Home's Value Instantly:  Your real estate professional is advising you to declutter, stage your home, plant new flowers, and make repairs and updates. You may be reluctant because of the costs, but according to HomeGain, your real estate agent is giving you sound investment advice that can actually make you more money when you sell your home
Read more ...

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