Here is your Bellasera Market Update for MAY 2017:

FOR SALE

7

- Average Asking Price

$752,543

- Average Square Feet

3,243

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

139

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$661,300

- Average Square Feet

2,506

- Average Asking Price per Sq. Foot

$267

- Average Days on Market

151

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

23

- Average Sales Price

$587,774

- Sales Price to List Price

96%

- Average Square Feet

2,610

- Average Sales Price per Sq. Foot

$230

- Average Days on Market

125

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- 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 SALEPENDING, and SOLD byFLOORPLAN.

The number of homes currently FOR SALE in the Valley are:  19,010 - compared to APRIL of19,821.

There are 13,076 homes currently under contract compared to APRIL of 12,782.

8,803 homes SOLD in APRIL in the Valley compared to MARCH of 9,264 (out of the 8,803 homes that sold last month – only 750 homes sold over $500,000 (9%.)

THE MARKET:

In the first 4 months of 2017, 23 homes have sold in Bellasera. Only 3 away from last year’s total of 26.  The smaller square footage homes are in demand – currently, there are not any homes listed under 2,700 sq. ft.  With only 7 homes for sale, now would be a good time to sell.

The demand for homes is still outpacing new listings with only 19,000 homes for sale in the entire Valley.   The SE Valley and the West Valley are both sitting at a 1 1/2 month supply of homes with Phoenix not far behind at 1 3/4 months of supply and Scottsdale at a 2 month supply.

Out of the 19,000 homes for sale, there are only 15,566 single family detached homes.   Buyers are having trouble finding good properties in the price range of under $500,000.  It is a good time to be a Seller.

 

From ARMLS STAT REPORT published APRIL 21, 2017 for MARCH 2017:

Sales continue to be hot, even taking into consideration the fact that we are in the high season. MLS sales volume for the first three months of 2017 was 11.54% higher than 2016. There were 21,483 sales reported in Q1 2017 compared to 19,261 for the first quarter of 2016.

Looking at public record resale sales volume in Maricopa County for the first quarter of 2017, we see that it was the third highest volume in the 19 years we’ve reported data. Only the peak bubble years of 2005 and 2006 had higher resale sales volume.

052017image005

Sales volume for the first three months of 2017 is 11.54% higher than 2016, with 21,483 sales in 2017 compared to 19,261 in the first quarter of 2016.

 

Charts below are through “MARCH 2017”:

052017image006

             +41.7% Month-over-Month                                                              +8.4% Year-over-Year

052017image008

                         MSI – FEBRUARY 3.85                                                         MSI – MARCH  2.70

052017image010

                      -5 day Month-over-Month                                                  -3 days Year-over-Year

052017image012

                     Year-over-year average  +7.9%                                    Year-over-year median  +6.6%

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2017 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$234

      3

    $267

  23

$230

                  0

Terravita (1,380 homes)

46

$259

             10

          $250

  26

$263

                  1

Winfield (511 homes)

 

  (*Custom Homes)

28

$236

    *3 - $258

               4

          $223

             *0

   12

$221

                  *0

                  0

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

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

 

85266 Zip Code

 

FOR SALE

 

 

          294

 

PENDING

 

 

62

 

TOTAL SOLD 2017

 

 

128

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$273

      

 

    $287

 

 

$236

 

 

$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

 

 TO SEARCH FOR HOMES - CLICK HERE

 

Steve and Joan Wallace – “Your Bellasera Realtors”

Steve’s Cell:  602-463-5254

Joan’s Cell:   602-361-8111

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