Dear Neighbors,

Happy New Year! Here is your Bellasera Market Update for JANUARY 2017:

FOR SALE

17

- Average Asking Price

$669,794

- Average Square Feet

2,828

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

115

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

4

- Average Asking Price

$594,750

- Average Square Feet

2,526

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

184

- SHORT SALES – LENDER OWNED

0

SOLD 2016*

26

- Average Sales Price

$601,558

- Sales Price to List Price

96%

- Average Square Feet

2,639

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

139

- 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:  19,572 - compared to DECEMBER of 20,993.

There are 8,144 homes currently under contract compared to DECEMBER of 9,667.

7,150 homes SOLD in DECEMBER in the Valley compared to NOVEMBER of  6,903 (out of the 7,150 homes – only 559 homes sold over $500,000 (8%.)

THE MARKET:

Last January, we had 13 homes for sale with an average of 90 days on market compared to this year of 17 homes for sale with an average of 115 days.  Sales have been slow in Bellasera - I think in part to the new homes being built in North Scottsdale.

Analysts are indicating 2017 to be a good year for real estate – inventory is low, but interest rates are rising. 

Monday Morning Cup of Coffee: Reasons to be optimistic in 2017

This year is almost over, and housing industry experts are all making their predictions for 2017. Although not everyone agrees on what next year will look like after President-elect Donald Trump is inaugurated and in the midst of a rapid rise in interest rates, most economists have a positive outlook for next year. Read more ....

And the top real estate market for 2017 will be...

Top 10 markets for next year:  The National Association of Realtors predicts a booming real estate market in 2017. Now, a study shows just which markets will be at the top of the list when it comes to home sales and home-price growth. Read more ....

This chart shows the “National Home Price Changes” from May 2002 to November 2016.

201701-1image007

From ARMLS STAT REPORT published DECEMBER 23, 2016 for NOVEMBER 2016:

Home sales are up, interest rates are up, the stock market is up, fake news is up and speculation as to what it all means is up. Oh, and by the way, a presidential election took place.  In STAT this month, we are going to ignore the clatter and focus on two metrics which we think are related: a 28.1% increase in year-over-year sales volume and a 19% increase in mortgage rates.

On the surface these numbers are quite impressive and I’m certain in coming days will be hyped. We might even hear the phrase breakout month bandied about. There is reason to be impressed as November sales this year had the third highest resale home volume in the past 19 years according to tax records. The month was third only to 2004 and 2005 when our market was red hot. Accompanying the strong resale numbers, new home sales were up 43% year-over-year. The 1,298 new builds as reported by The Information Market accounted for their highest monthly total this year.

November sales numbers were strong, but not as strong as they appear on the surface. We didn’t have a breakout month. We made a lot of assumptions this month but we are confident that December sales will fall back to earth.

Charts below are through “NOVEMBER” 2016:

201701-2image007

             -2.5% Month-over-Month                                                              +28.1% Year-over-Year

201701-3image007

                         MSI – OCTOBER 3.59                                                         MSI – NOVEMBER  3.63

201701-4image007                     +2 days Month-over-Month                                                  -1 day Year-over-Year

201701-5image007

                     Year-over-year average  +6.0%                                    Year-over-year median  +8.1%

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

$240

      4

    $240

  26

$232

                  0

Terravita (1,380 homes)

33

$269

              8

          $266

  85

$244

                  1

Winfield (511 homes)

 

  (*Custom Homes)

24

$237

    *2 - $255

               2

          $220

             *0

 21

$224

        *4 - $255

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/3/17).

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

 

85266 Zip Code

 

FOR SALE

 

 

          238

 

PENDING

 

 

38

 

TOTAL SOLD 2016

 

 

383

SOLD

SHORT SALE-

LENDER OWNED

 

8

 

 

Average Price Per Sq. Ft.

 

 

$291

      

 

    $252

 

 

$225

 

 

$147

    *All Averages Includes

            Custom Homes

        *SEE ATTACHED          

      STATISTICS REPORT

  *SEE ATTACHED          

MARKET SUMMARY

            REPORT

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.

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