Bellasera Market Update


 

Here is your Bellasera Market Update for JANUARY 2018:

FOR SALE

12

- Average Asking Price

$641,392

- Average Square Feet

2,715

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

105

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$655,000

- Average Square Feet

2,986

- Average Asking Price per Sq. Foot

$222

- Average Days on Market

93

- SHORT SALES – LENDER OWNED

0

SOLD 2018*

0

- Average Sales Price

$0

- Sales Price to List Price

0%

- Average Square Feet

0

- Average Sales Price per Sq. Foot

$0

- Average Days on Market

0

- Lowest Sale Price

$0

- Highest Sale Price

$0

- SHORT SALES – LENDER OWNED

0

 

 

SOLD 2017*

30

- Average Sales Price

$603,407

- Sales Price to List Price

97%

- Average Square Feet

2,657

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

134

- Lowest Sale Price

$420,000

- Highest Sale Price

$835,000

- 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: 17,228 - compared to DECEMBER of 18,511.

There are 7,766 homes currently under contract compared to DECEMBER of 9,162.

7,204 homes SOLD in DECEMBER in the Valley compared to NOVEMBER of 7,186 (out of the 7,204  homes that sold in DECEMBER – only 688 homes sold over $500,000 (10%.)

THE MARKET:

2018 is off to a good start. Interest rates are still low, inventory is very low and buyers are plentiful.  It will be a good year to be a Seller.  There are only 17,228 homes for sale in the Valley - this is very low and the trend has been downward.

If you would like to receive automatic email updates for Bellasera on when homes come on the market and when homes sell, please email us your email address and we will set you up to receive the alerts.

We have lived and sold Bellasera homes for 14 years – we are full-time Realtors who answer our phones – we know the Bellasera market and floorplans – we price your home to get the maximum value – we love Bellasera and love to sell it!  We are but a phone call way……..

From ARMLS STAT REPORT for NOVEMBER 2017  published DECEMBER 20, 2017:

The hot housing topics of the day are the top predictions for 2018, low inventory levels, affordability concerns, bubble talk and decade low foreclosure numbers.

“A central theme for the 2018 housing market will be the continuing erosion of housing affordability”, accord­ing to Frank Nothaft, Chief Economist of Core Logic. Nothaft is basing his concerns on three economic factors he believes will further weaken affordability in the coming year: rising interest rates, rising home prices and the low inventory of starter homes for sale.

Nothaft does not give his opinion on the other side of the affordability equation: household income. If the economy grows jobs and increases wages, this of course would have a positive impact on home affordability. What happens to interest rates, home prices, job creation and wages in 2018 are all speculation at this point and my time traveler friend is not talking.

The one thing I do know is the 8% to 9% price growth we’ve seen in the median sales price over the last three Novembers is not sustainable. To put this in perspective we’ll employ the rule of 70. The rule of 70 is a way to estimate the number of years it takes for a certain variable to double by taking the number 70 and dividing it by the appreciation rate. At the 8.5% annual appreciation we’ve seen over the last three years in median price growth in November (70/8.5), prices would double in less than 8 years and three months.

Conclusion: Our current market is in balance and our median sales price is in line with our reported median household incomes. Our current appreciation rates will need to fall back in-line with our long-term appreciation rate.

How to Know When it is Time to Sell

Part of being a homeowner is dealing with the intermittent thought, "Hmm, maybe I should put my house on the market..."

Obviously, deciding to sell your home is no small decision. In fact, it's right up there with deciding to buy a home in the first place. Here are four indicators that can help you decide whether now actually may be a good time to list your home:

You're out of space. While it might be nice to have more room for your shoes, does that warrant a new home? On the other hand, is there a baby on the way? An in-law moving in? If your household is getting ready to grow, it may be time to move on to a house that will accommodate your expanding needs.

You're in a hot market. If "sold" signs are popping up frequently in your neighborhood and prices are rising quickly, it might be worth talking to your real estate agent. If now is the time you can potentially make a big return on your investment, you might want to consider making a move.

You're sick of yard work. If raking leaves and restaining the deck are no longer considered fun projects, you may be at a stage where you're looking to scale down to a more streamlined, less work-intensive living situation.

Your life has changed. If you've had a major life event - marriage, divorce, new job, retirement - it may necessitate a new home and/or a new location that makes more sense for your new life. Consider whether your current home is still the right fit.

Charts below are through “OCTOBER 2017”:

2018-01-1

           -2.7% Month-over-Month                                                              +4.0% Year-over-Year

2018-01-2

                         MSI – OCTOBER 3.19                                                        MSI – NOVEMBER 3.09

2018-01-3

                 +4 days Month-over-Month                                                 -6 days Year-over-Year

2018-01-4

                 Year-over-year average  +8.8%                                    Year-over-year median  +8.4%

CHART COMPARISON: BELLASERA TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2018 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 12

$240

      3

    $222

  0

                $

                  0

Terravita (1,380 homes)

35

$265

             10

           $276

  1

$302

                  0

Winfield (511 homes)

 

  (*Custom Homes)

14

$230

    *5 - $295

               5 

           $245

   *1 - $284

   1

$216

               *

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/5/18).

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

85266 Zip Code

 

FOR SALE

 

 

          246

 

PENDING

 

 

51

 

TOTAL SOLD 2018

 

 

   4

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$280

      

 

    $301

 

 

$190

 

 

$

    *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

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