Dear Neighbors,

Here is your Bellasera Market Update for SEPTEMBER 2015:

FOR SALE

10

- Average Asking Price

$618,380

- Average Square Feet

2,565

- Average Asking Price per Sq. Foot

$246

- Average Days on Market

152

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$717,000

- Average Square Feet

2,862

- Average Asking Price per Sq. Foot

$250

- Average Days on Market

115

- SHORT SALES – LENDER OWNED

0

 

 

SOLD*

13

- Average Sales Price

$602,731

- Sales Price to List Price

97%

- Average Square Feet

2,443

- Average Sales Price per Sq. Foot

$249

- Average Days on Market

60

- Lowest Sale Price

$373,000

- Highest Sale Price

$873,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING (none), and SOLD byFLOORPLAN.

The number of homes currently for sale in the Valley are:  19,142 - compared to AUGUST of 19,351.

There are 9,664 homes currently under contract compared to AUGUST of 10,269.

7,249 homes sold in JULY in the Valley compared to AUGUST of  7,972.

THE MARKET:

From ARMLS STAT REPORT for AUGUST:

Our housing market continues to show slow and steady improvement. On a year-over-year basis distressed inventories are down, foreclosures are down, traditional buyers are up, purchase money mort-gages are up and new construction is up. Each and every one of these metrics continues to improve. Sales were up 16.8% year-over-year for example.

 

Some readers may groan that the month-over-month sales volume was 8.8% lower in July 2015 than in June 2015, but this decline is best explained by seasonal factors. First, our sales volume historically peaks in June and then declines each successive month through November. Secondly, June contained an additional business day.

 

It is not uncommon for the median price to fall from July to August. This has occurred seven times over the 14 years ARMLS has been tracking median home prices. Our last PPI projected a July median price of $213,000 with the actual median coming in at $212,000. That’s an error rate of less than 0.5%. Looking ahead to August, the ARMLS Pending Price Index projects a median sales price of $210,000.

 

We begin August with 6,341 pending listings and 3,385 UCB listings giving us a total of 9,726 residential listings under contract. This compares to 10,761 listings under contract at the beginning of July. The August 2015 sales volume will undoubtedly exceed August 2014 (6,428), but should be lower than the 7,914 total in July 2015. STAT is projecting 7,200 home sales in August.

Charts below are through “AUGUST” 2015

9-2015-1

  +16.8% year-over-year                -8.8% month-over-month

9-2015-2

  MSI JUNE 2015 – 2.69                               

9-2015-3

9-2015-4

Year-over-year average - +5.6%      Year-over-year median - +7.6%

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

$246

      2

   $250

  13

$249

                  0

Terravita (1,380 homes)

15

$251

       2

     $237

  77

$240

                  0

Winfield (511 homes)

 

  (*Custom Homes)

17

$235

    *4 - $339

        3

      $213

  19

$214

    *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 9/2/15).

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

 

85266 Zip Code

 

FOR SALE

 

 

      196

 

PENDING

 

 

24

 

TOTAL SOLD 2015

 

 

242

SOLD

SHORT SALE-

LENDER OWNED

 

7

 

 

Average Price Per Sq. Ft.

 

 

$264

      

 

    $261

 

 

$230

 

 

$175

    *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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