Bellasera Market Update


 

Dear Neighbors,

Here is your Bellasera Market Update for MAY 2015:

FOR SALE

10

- Average Asking Price

$680,080

- Average Square Feet

2780

- Average Asking Price per Sq. Foot

$249

- Average Days on Market

87

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$462,000

- Average Square Feet

1,766

- Average Asking Price per Sq. Foot

$261

- Average Days on Market

47

- SHORT SALES – LENDER OWNED

0

SOLD*

10

- Average Sales Price

$605,750

- Sales Price to List Price

97%

- Average Square Feet

2,484

- Average Sales Price per Sq. Foot

$246

- Average Days on Market

75

- Lowest Sale Price

$373,000

- Highest Sale Price

$873,000

- 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:  21,548 - compared to MARCH of 23,522.

There are 12,932 homes currently under contract compared to MARCH of 10,604.

8,396 homes sold in APRIL in the Valley compared to MARCH of  7,890.

***We have clients looking for an OURO (1,707 sq. ft.) and an OURO w/Casita (2,110 sq. ft.)  Please give us call if you are interested in selling your home.

THE MARKET:

From ARMLS STAT REPORT for APRIL:

Our STAT report showed weak sales volume in January, but as the first quarter progressed our market demonstrated the axiom, demand can quickly change.

Sales volume for the first quarter of 2015 was 10.5% higher than last year. There were 18,674 homes sold in Q1 2015 compared to 16,983 last year. It should be noted that the sales volume last year set a very low standard and was often times described as anemic. The gains in sales volume for the first quarter took place in February and March after a modest decline in January.

Sales figures in February 2015 were up 9.4% year-over-year and sales volume in March 2015 was up 17.7% year-over-year. Last year at this time we had theorized demand was 20% to 25% below normal. The increase in volume this past month makes the argument that sales volumes are approaching their customary levels.

When we take a closer look inside the March 2015 numbers we see investor activity fell to 12.1% of sales compared to 16.25% a year ago. Pair that with foreclosure inventories in Maricopa County (REO & Active Notices) being down 24.2% year-over-year, it’s now undeniable: the traditional home buyer is the driving force in our housing market.

New construction gained 8% higher year-over-year in March. New construction numbers are still paltry but are improving. As an indicator of what might be expected in the coming months on the new construction front, the RL Brown Housing Reports home page stated: “New Home permits for March are up more than 50% from the same month last year and up +40% from last month.”

With demand approaching normal levels, supply is still well below normal. Total supply is 11.5% lower than last year at this time. If we look at active listings and exclude those in UCB, we see inventory has fallen 15.5% year-over-year. This is encouraging news for sellers because if the current pattern of in-creased demand continues, upward pricing pressure can be expected.

We began April 2015 with 11,997 residential listings under contract compared to 10,817 for the same period last year. April 2015 sales volume will undoubtedly exceed April 2014 (7,659). We expect sales this month to land in the 8,500 range. Our estimated sales volume last month of 7,500 was 5.3% below the actual sales figure of 7,900.

Charts below are through “APRIL” 2015:

1maj

+17.7% year-over-year                                      +31.9% month-over-month

2maj

  MSI FEB 2015 - 4.56                                                                     MSI MAR 2015 - 3.35

3maj

4maj

Year-over-year average - +3.1%                                   Year-over-year median - +7.0%

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)

10

$249

      2

  $261

  10

$246

                  0

Terravita (1,380 homes)

27

$240

             19

          $246

47

$242

                  0

Winfield (511 homes)

 

  (*Custom Homes)

18

$232

    *6 - $339

               5

          $214

  9

$209

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 5/8/15).

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

 

85266 Zip Code

 

FOR SALE

 

 

          263

 

PENDING

 

 

58

 

TOTAL SOLD 2015

 

 

127

SOLD

SHORT SALE-

LENDER OWNED

 

3

 

 

Average Price Per Sq. Ft.

 

 

$280

      

 

    $230

 

 

$239

 

 

$198

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

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

 

 TO SEARCH FOR HOMES - CLICK HERE

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