Here is your Bellasera Market Update for JULY 2017:

FOR SALE

5

- Average Asking Price

$660,480

- Average Square Feet

2,725

- Average Asking Price per Sq. Foot

$245

- Average Days on Market

174

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$644,900

- Average Square Feet

2,447

- Average Asking Price per Sq. Foot

$264

- Average Days on Market

110

- SHORT SALES – LENDER OWNED

0

SOLD 2017*

27

- Average Sales Price

$603,104

- Sales Price to List Price

97%

- Average Square Feet

2,647

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

133

- 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:  17,951 - compared to JUNE of 18,848.

There are 11,278 homes currently under contract compared to JUNE of 12,032.

9,616 homes SOLD in JUNE in the Valley compared to MAY of 9,824 (out of the 9,616  homes that sold in June – only 927 homes sold over $500,000 (4%.)

THE MARKET:

Only 5 homes for sale in Bellasera – I believe this is the lowest number we have had for many years.  As noted above with just 17,951 for sale in the Valley, the inventory has decreased each month due to home sales and homes going off the market for the balance of the summer.

From ARMLS STAT REPORT for MAY 2017  published JUNE 23, 2017:

On May 31st, NAR’s Lawrence Yun published an article entitled Pending Home Sales Scale Back 1.3 Percent in April. In his article Yun states:

“The Pending Home Sales Index, a for­ward-looking indicator based on contract signings, decreased 1.3 percent to 109.8 in April from a downwardly revised 111.3 in March. After last month’s decline, the index is now 3.3 percent below a year ago, which is the first year-over-year decline since last December and the largest since June 2014 (7.1 percent). Much of the country for the second straight month saw a pullback in pending sales as the rate of new listings continues to lag the quicker pace of homes coming off the market. Realtors® are indi­cating that foot traffic is higher than a year ago, but it’s obviously not translating to more sales.”

Rick Sharga of Ten-X echoed similar sentiments in a Housing wire article entitled Ten-X: Existing home sales to drop in May. The article warns that, “Two consecutive months of weaker existing home sales isn’t cause for panic, but it does suggest that forecasts calling for a robust housing market may have been too optimistic.” Ten-X Executive Vice President Rick Sharga weighs in too, predicting the combination of low inventory and home prices that rise faster than wage growth will slow down sales.

Charts below are through “MAY 2017”:

july17-1

             +11.3% Month-over-Month                                                              +11.1% Year-over-Year

july17-2

                         MSI – APRIL 2.79                                                        MSI – MAY  2.44

july17-3

                 -2 days Month-over-Month                                                  -2 days Year-over-Year

july17-4

                 Year-over-year average  +6.5%                                    Year-over-year median  +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)

 5

$245

      1

    $264

  27

$232

                  0

Terravita (1,380 homes)

18

$267

             10

           $249

  41

$255

                  1

Winfield (511 homes)

 

  (*Custom Homes)

14

$227

    *1 - $269

               6

          $258

        * 0

   22

$223

        *1 - $267

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 7/9/17).

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

 

85266 Zip Code

 

FOR SALE

 

 

          199

 

PENDING

 

 

54

 

TOTAL SOLD 2017

 

 

213

SOLD

SHORT SALE-

LENDER OWNED

 

1

 

 

Average Price Per Sq. Ft.

 

 

$262

      

 

    $284

 

 

$238

 

 

$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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