Dear Neighbors,

Here is your Bellasera Market Update for NOVEMBER 2015:

FOR SALE

11

- Average Asking Price

$685,082

- Average Square Feet

2,827

- Average Asking Price per Sq. Foot

$247

- Average Days on Market

97

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$616,567

- Average Square Feet

2,722

- Average Asking Price per Sq. Foot

$229

- Average Days on Market

282

- SHORT SALES – LENDER OWNED

0

SOLD*

16

- Average Sales Price

$617,956

- Sales Price to List Price

97%

- Average Square Feet

2,499

- Average Sales Price per Sq. Foot

$246

- Average Days on Market

79

- 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:  21,332 - compared to OCTOBER of 20,616.

There are 9,252 homes currently under contract compared to OCTOBER of 9,092.

6,321 homes  SOLD in OCTOBER in the Valley compared to SEPTEMBER of  7,441.

THE MARKET: 

BELLASERA has only 11 homes for sale out of 360 homes.  Now would be a good time to have your home on the market if you are thinking of selling.  We can meet with you and give you a current market analysis.  So, if you  want to downsize or upsize or buy a new build, give us a call – we list and sell in many areas of the Valley.

From ARMLS STAT REPORT for OCTOBER:

Fall has started and while the temperatures may not reflect the season, we are well into seasonal patterns for our market. September 2015 ended with 6,935 MLS sales, a -1.1% decline over August 2015 which was better than the expected -2% seasonal decline. Sales prices and new list prices increased 4.3% and 4.9% year-over-year respectively. Overall, September 2015 looked better than September 2014.

Each month we look at successful sales but what should we make of the existing inventory – a.k.a the listings that didn’t sell? Today’s new listing contracts become tomorrow’s sales contracts. This month we are going to take a look at the listings that did and didn’t sell in September 2015. From this perspective, there were 6,935 sales and 18,356 unsold listings in September.

For the purposes of this article, unsold listings are listings that were in active status during the month of September 2015 excluding UCB status.

Our unsold listings have 130 days on market on average whereas the average closed listing in September had 71 days on market. Even when we exclude the 65 listings that have more than 1,000 days on market, our average for unsold listings only falls to 125 days. We expect a higher DOM for unsold listings, but it is surprising that we have so many long-haul listings in such a DOM sensitive market. In fact, there are a few listings that have been on the market for more than eight years. Some properties need that special unique snowflake of a buyer and this isn’t a knock against those properties, but more so a statement concerning how older listings are not moving off the market.

Looking at price changes, MLS listings that sold nearer to their original list price sold faster on average. Of the 6,935 residential MLS sales in September 2015, 65% sold within 5% (+/-) of their original list price with an average DOM of 50 days, 21 days faster than the average sale. 32% of closed listings went for greater than 5% of their original list price but ended up with a DOM of 111 days on average. Only 2% of listings in September sold below 94% of their original list price, they landed at 67 days. This highlights the importance of correct pricing. 22% of unsold listings are al-ready listed 5% above or below their original list prices.

We begin October with 5,801 pending listings and 3,219 UCB listings giving us a total of 9,020 residential listings under contract. This compares to 9,595 listings under contract at the beginning of September. The October 2015 sales volume should exceed October 2014 (6,154), but should be lower than the total of 7,010 in August 2015. STAT is projecting 6,650 home sales in October. This forecast is not without a little TRIDidation as there were 23 business days last year and only 22 business days this year. Based on the historical average sales volume in past Octobers, we predict October 2015 will be 2.98% lower than September 2015.

Charts below are through “SEPTEMBER” 2015:

nov15-1

  +10.9% year-over-year                          -1.1% month-over-month 

nov15-2

  MSI - AUGUST 2015  3.20                 MSI - SEPTEMBER 2015  3.36

nov15-3

nov15-4

Year-over-year average  +4.3%      Year-over-year median  +8.8%

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) 

11

$247

      3

   $229

  16

$246

                  0

Terravita (1,380 homes)

27

$247

               7

          $248

  82

$240

                  0

Winfield (511 homes)

 

  (*Custom Homes)

23

$235

    *8 - $290

               3

          $238

  21

$215

                   *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 11/3/15).

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

 

85266 Zip Code

 

FOR SALE

 

 

          212

 

PENDING

 

 

29

 

TOTAL SOLD 2015

 

 

282

SOLD

SHORT SALE-

LENDER OWNED

 

9

 

 

Average Price Per Sq. Ft.

 

 

$267

       

 

    $240

 

 

$231

 

 

$176

    *All Averages Includes 

            Custom Homes

        *SEE ATTACHED          

      STATISTICS REPORT

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

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

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