Dear Neighbors,

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

FOR SALE

14

- Average Asking Price

$670,543

- Average Square Feet

2,826

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

118

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

9

- Average Asking Price

$611,700

- Average Square Feet

2,537

- Average Asking Price per Sq. Foot

$245

- Average Days on Market

104

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

3

- Average Sales Price

$613,267

- Sales Price to List Price

96%

- Average Square Feet

2,799

- Average Sales Price per Sq. Foot

$221

- Average Days on Market

242

- Lowest Sale Price

$585,000

- Highest Sale Price

$668,000

- 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

 

 

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:  20,371 - compared to JANUARY of 19,572.

There are 10,458 homes currently under contract compared to JANUARY of 8,144.

6,020 homes SOLD in JANUARY in the Valley compared to DECEMBER of  7,150 (out of the 6,020 homes that sold last month – only 485 homes sold over $500,000 (8%.)

THE MARKET:

What a difference a month makes – we now have 9 homes under contract!  In the first quarter, we could have 12 homes that have sold already this year – in 2016, a total of 26 homes sold.  We are on a roll…..let’s hope it continues!

Existing-home sales just completed an "outstanding" three-month run, according to National Association of Realtors Chief Economist Lawrence Yun. Can they add a fourth month to that streak? The industry will find out this week when NAR publishes the latest data. READ MORE

 

Golf is no longer king - but it still plays a big role in Phoenix-area real estate 

Surveys show golf no longer rates as a top amenity with prospective home buyers.  But a panel of industry insiders recently told The Arizona Republic that golf still holds an important place with many buyers. Golf-related residential real estate has been a key component in the Phoenix area since at least the 1960s. There are around 200 golf courses in the metro area. READ MORE

 

Grand Canyon State makes top 10 for attracting newcomers

Azcental.com reports that Arizona finished 10th in a survey by United Van Line for attracting new residents, the first time in a while Arizona has been ranked that high. United Van Lines has conducted the survey since 1977 and it is based on the moves the company handles. South Dakota was the top state for attracting new residents. New Jersey was the state with the highest number of households leaving.  READ MORE

 

From ARMLS STAT REPORT published JANUAY 25, 2017 for DECEMBER 2016:

It’s that time of year again! With 2016 behind us this is our annual year-in-review issue. Let’s start with two words: stable and improving. These two words continually came to mind as I reviewed our 2016 housing metrics. In our 2015 year-in-review we concluded that 2015 was the type of year you could build a career around as it was a very average year. From the outset, 2016 sales volume numbers were eerily similar to 2015, feeling like déjà.

By July, 2016 was being labeled 2015 the Sequel or maybe even Ground-hog Year. Through the first seven months of 2016 ARMLS reported 52,721 sales compared to 51,948 in 2015, a 1.5% increase. In August, the gap in sales volume began to widen. In the last five months of 2016 demand was 11.43% higher than the last five months of 2015. If 2015 was an average year, 2016 was slightly above average. In terms of the 16 years ARMLS has been reporting sales data, 2016 was the 7th best.

Charts below are through “DECEMBER” 2016:

20170201image010

             +3.4% Month-over-Month                                                              +4.4% Year-over-Year

20170202image012

                         MSI – NOVEMBER 3.63                                                         MSI – DECEMBER  3.20

20170204image012

                      -1 day Month-over-Month                                                  +2 days Year-over-Year

20170205image012

                     Year-over-year average  +5.2%                                    Year-over-year median  +5.6%

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)

 14

$240

      9

    $245

  3

$221

                  0

Terravita (1,380 homes)

40

$267

              2

          $264

  7

$255

                  1

Winfield (511 homes)

 

  (*Custom Homes)

26

$238

    *3 - $267

               1

          $241

             *0

 2

$210

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 2/5/17).

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

 

85266 Zip Code

 

FOR SALE

 

 

          272

 

PENDING

 

 

31

 

TOTAL SOLD 2016

 

 

37

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$282

      

 

    $241

 

 

$240

 

 

$192

    *All Averages Includes

            Custom Homes

       

  *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.

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

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