Bellasera Market Update


Dear Neighbors,

Here is your Bellasera Market Update for DECEMBER 2016:

FOR SALE

17

- Average Asking Price

$681,206

- Average Square Feet

2,894

- Average Asking Price per Sq. Foot

$238

- Average Days on Market

101

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

4

- Average Asking Price

$626,750

- Average Square Feet

2,638

- Average Asking Price per Sq. Foot

$241

- Average Days on Market

227

- SHORT SALES – LENDER OWNED

0

SOLD 2016*

24

- Average Sales Price

$600,125

- Sales Price to List Price

96%

- Average Square Feet

2,635

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

131

- Lowest Sale Price

$390,000

- Highest Sale Price

$875,000

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2015*

20

- Average Sales Price

$612,225

- Sales Price to List Price

97%

- Average Square Feet

2,535

- Average Sales Price per Sq. Foot

$243

- Average Days on Market

106

- Lowest Sale Price

$373,000

- Highest Sale Price

$900,000

- SHORT SALES – LENDER OWNED

0

 

 

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently  FOR SALE in the Valley are:  20,993 - compared to NOVEMBER of 21,123.

There are 9,667 homes currently under contract compared to NOVEMBER of 10,069.

6,906 homes SOLD in NOVEMBER in the Valley compared to OCTOBER of  7,462 (out of the 7,462 homes – only 532 homes sold over $500,000 (8%.)

THE MARKET:

Now that the election is over, there are more showings and 4 homes are under contract.  List prices are still adjusting lower based on showing activity and the market. 

Our market has been very stable with one of the big challenges this year that there are not enough homes for sale to meet the demand levels in most areas.

Sales volume for the first 10 months of 2016 is 3.71% higher than 2015 - ARMLS has reported 74,873 sales this year compared to 72,197 sales last year.

See article below and link to Realtor.com:

Home Phoenix housing market predicted to be No 1 out of 100  -  December 1, 2016

All About Arizona News  -  Kyle Smith

As the new year quickly approaches, so do new housing market evaluations.  And if you happen to own property in the Phoenix area, then you are in luck.  According to Realtor.com, Phoenix has been predicted to experience some explosive growth in the housing market. Out of 100 areas listed on their site, Phoenix has been chosen as its projected number one; and who could argue with that?  With its heterogeneous population mix of both millennials and baby boomers, ideal year round weather, and expanding suburbs, it makes for a great community to be a part of. This combination of factors attracts people from all over the country to want to live in the area and is driving demand up like nowhere else in the country.

Many millennials are looking to buy their first home soon and the stats from Realtor.com show that they are looking to the western states as their market of choice. They seem to prefer the warmer and more predictable weather along with a diverse population that offer a wider depth of experiences.  This provides a great opportunity for the Phoenix area to continue to experience above average growth in the housing market. This will drive up property values across the board with predictions around 6% growth in price. This will be coupled with a large uptick in sales in the area as well possibly reaching as high as 7.24% presenting a nearly unparalleled opportunity for the area.  No matter where you are located in the Phoenix-Scottsdale-Mesa area, you will soon see an increase in your property values which will present you with new monetary possibilities that can open the doors to new experiences.

Click on link to see article:  Realtor.com - National Housing Forecast

 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 published NOVEMBER 18, 2016 for OCTOBER 2016:

Ivy Zelman is our favorite national housing researcher and analyst.   Ivy has a down to earth common sense approach. Not only does she do extensive research, she also applies a human element to the math. Too many analysts rely solely on their mathematical models without factoring in human nature. Zelman and Associates are very strong on research, but even stronger in marrying that research to the human aspect of the consumer.

Zelman was recently interviewed on the exhibition floor at NAR. The interview is about 11 minutes long and can be viewed here - Ivy Zelman

Although the interview is national in scope, the information presented closely reflects what we’re seeing in our local market. If you don’t have time to watch the video in its entirety, I have attached the bullet points in a pdf document.

Charts below are through “OCTOBER” 2016:

2016dec1

             -4.7% Month-over-Month                                                              +10.7% Year-over-Year

2016dec2

                         MSI – SEPTEMBER 3.29                                                         MSI – OCTOBER  3.59

2016dec3                     +3 day Month-over-Month                                                  +2 days Year-over-Year

2016dec4

                     Year-over-year average  +6.0%                                    Year-over-year median  +7.9%

CHART COMPARISON: BELLASERA TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2016 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 17

$238

      4

    $241

  24

$232

                  0

Terravita (1,380 homes)

40

$275

              8

          $271

  77

$241

                  0

Winfield (511 homes)

 

  (*Custom Homes)

23

$234

    *2 - $255

               1

          $239

             *0

 21

$224

        *4 - $255

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 12/6/16).

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

 

85266 Zip Code

 

FOR SALE

 

 

          249

 

PENDING

 

 

45

 

TOTAL SOLD 2016

 

 

354

SOLD

SHORT SALE-

LENDER OWNED

 

8

 

 

Average Price Per Sq. Ft.

 

 

$287

      

 

    $251

 

 

$224

 

 

$147

    *All Averages Includes

            Custom Homes

        *SEE ATTACHED          

      STATISTICS REPORT

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

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

Blinklist!Blogmarks!BlinkBits!Ask!

Add comment


Security code
Refresh