Courtesy of Janice Balzotti
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SELECT LOCAL MARKET SNAPSHOTS Paradise Valley Current Active Listings
Currently Pending
Sold Past 12 Months
299
45
373
Sold Prior 12 Months 313
Average Price
# of Month Supply
# of Month Supply 2 yrs Ago
$1,435,791
6.8
24.5
Average Price
# of Month Supply
# of Month Supply 2 yrs Ago
Scottsdale Current Active Listings
Currently Pending
Sold Past 12 Months
Sold Prior 12 Months
2,196
59
4,657
4,413
$497,193
4.2
7.9
Commentary: The striking thing to notice in comparing the performance of both cities over the past 2 years, is how the # of month supply has dropped dramatically. While this is apparent in all sub-markets, it is most noticeable in Paradise Valley, where 2 years ago there was an 24.5 month supply and now there is just over a 6 month supply. In all local cities the number of Sold transactions 2 years ago versus this past year tells a similar story, shrinking supply coupled with a robust demand. To repeat, you can’t talk about demand without talking about supply, or the available inventory of homes for sale. This is the punch line. Today we have strong, almost record demand coupled with a shrinking supply. This suggests price stability at a minimum and explains why the market in Arizona is heating up. It’s been a hot market for investors buying distressed properties, but now we’re seeing the return of the owner-occupant—the buyers that want the best home they can find in the best community, with the intention of living there for at least 5-plus years, without thinking of their home as primarily an investment per se. This is newsworthy--as recent surveys affirm, that in spite of the housing debacle, the American Dream of homeownership lives… Next...
SELECT LOCAL MARKET SNAPSHOTS Cave Creek Current Active Listings
Currently Pending
Sold Past 12 Months
Sold Prior 12 Months
271
91
626
453
Average Price $387,983
# of Month Supply
# of Month Supply 2 yrs Ago
3.6
7.8
Care Free Current Active Listings
Currently Pending
Sold Past 12 Months
Sold Prior 12 Months
Average Price
# of Month Supply
# of Month Supply 2 yrs Ago
81
10
86
89
$677,973
13.5
45
Fountain Hills Current Active Listings
Currently Pending
Sold Past 12 Months
Sold Prior 12 Months
Average Price
# of Month Supply
# of Month Supply 2 yrs Ago
230
65
51
43
$491,371
4.5
6.5
# of Month Supply
# of Month Supply 2 yrs Ago
5
9
Arcadia (ZIP Code 85018) Current Active Listings
Currently Pending
Sold Past 12 Months
Sold Prior 12 Months
232
62
492
392
Average Price $442,000
Tucson Current Active Listings 7094
Currently Pending 1187
Sold Past 12 Months 1188
Sold Prior 12 Months 1290
Average Price
Average Price 1 Yr Ago
$167,703
$186,223
Average Price
Average Price 1 Yr Ago
# of Month Supply 6
Oro Valley Current Active Listings 288
Currently Pending
27
Sold Past 12 Months 866
Sold Prior 12 Months 913
$291,615
$265,500
# of Month Supply 4
Thesemar ket shar est at sar ecr ossml s( bot hPhoeni x& Tucson) f oral lsal es500K andupYTD
S i g n i f i c a n t S a l e s
Ne wMe x i c o
Ar i z on a
Sant aFeSot heby’ sI nt er nat i onalReal t y OFFEREDAT$10, 500, 000
RussLyonI nt er nat i onalReal t y OFFEREDAT$5, 000, 000
Rome
Ba h a ma s
RomeSot heby’ sI nt er nat i onalReal t y OFFEREDAT$1 1, 162, 000
Dami anosSot heby’ sI nt er nat i onalReal t y OFFEREDAT$12, 500, 000
L on d on
Ne wY or k
LondonSot heby’ sI nt er nat i onalReal t y OFFEREDAT$1 1, 366, 000
Sot heby’ sI nt er nat i onalReal t y-Manhat t an OFFEREDAT$7, 900, 000
Mo r e . . .
S i g n i f i c a n t S a l e sc o n t i n u e d . . .
Con n e t i c u t
F l or i d a
Wi l l i am Pi t tSot heby’ sI nt er nat i onalReal t y OFFEREDAT$7, 450, 000
Russel lPostI nt er nat i onalReal t y OFFEREDAT$6, 800, 000
T e x a s
S t . Ba r t h e l e my
Br i ggsFr eemanSot heby’ sI nt er nat i onalReal t y OFFEREDAT$6, 500, 000
St .Bar t hSot heby’ sI nt er nat i onalReal t y OFFEREDAT$8, 300, 000
Ca l i f or n i a
Ne wY or k
Wi neCount r ySot heby’ sI nt er nat i onalReal t y OFFEREDAT$7, 980, 000
Sot heby’ sI nt er nat i onalReal t y-So.Hampt on OFFEREDAT$7, 750, 000