Desert Ridge Homes Monthly Real Estate Report-November 2010
Desert Ridge Phoenix is a vibrant 5,700 acre community, located within the Desert Ridge Master-Plan. It boasts incredible desert views,the excelling Paradise Valley School District, an amazing 15,000 square foot community center, and wonderful shopping/dining opportunities at the nearby Desert Ridge Marketplace.
Subscribe to the Desert Ridge Homes Monthly Real Estate Report to get this report delivered to your inbox on a monthly basis. The report is meant to keep you up-to-date on the latest real estate trends in the community.
Before I begin to explain the findings in the above chart, allow me to take a moment to define some of the terms.
Active: Listings that are currently listed as being "Active" in the MLS.
Pending: Listings that are currently under contract. This includes both Short Sales and Traditional (non- distressed) listings
Closed: These are homes that closed escrow during the month of November/2010
Traditional: These are listings that are "non-distressed" (i.e., not short sales or bank-owned)
Short Sales: These are listings that are marketed/sold for less than what is owed on their respective mortgages
Bank-Owned: As the title implies, these are listings that are marketed/sold by the bank/lender that owns them
Other/Misc: These listings are owner/agent, probate, court approval required, etc.
There are currently 208 Active Listings on the market in Desert Ridge:
78 Are Traditional Listings
85 Are Short Sales
38 Are Bank-Owned
7 Are Misc.
There are currently 140 Pending Listings in Desert Ridge Phoenix:
22 Are Traditional Listings
81 Are Short Sales
27 Are Bank-Owned
10 Are Misc.
During the month of November/2010, there were 47 closed listings in Desert Ridge Phoenix:
16 Were Traditional Listings
12 Were Short Sales
18 Were Bank-Owned
1 Was Misc.
Finally, in the Desert Ridge Homes Monthly Real Estate Report, we will compare month/month cost per square foot for those homes that closed escrow in November/2010:
The Average Price/Square Foot for homes sold in October/2010 in Desert Ridge Phoenix was $112.24 per square foot.
The Average Price/Square Foot for homes sold in November/2010 was $111.67 per square foot.
This represents a 0.5% decrease in prices within the community from October to November/2010. The fact that 18 of the 47 homes that closed escrow were bank-owned homes probably had a great deal to do with this decrease in price.
If you are looking at buying a home in Desert Ridge, feel free to call the Desert Ridge Homes Team for a more in-depth analysis of area. We have helped countless Desert Ridge Home Buyers find their dream homes over the years, as well as surrounding neighborhoods in the area.
Or, if you would like to search for you own Desert Ridge homes on the internet, you've come to the right place. Our Desert Ridge Search allows you to set up your own search parameters, and you will receive an email whenever a new listing that matches your needs hits the market. Trust me, you'll love it!
If you are looking to sell your Desert Ridge home, look no further. Call our Desert Ridge Homes Team to discuss your options.
As I said at the beginning, I will be posting this information on a monthly basis. If you'd like to keep abreast of the latest happenings, feel free to subscribe to the Desert Ridge Homes Monthly Report to get monthly updates on the market.
Below is a map of all available homes currently listed in the Desert Ridge area. If you would like to conduct your own search, simply click on the red "Search" tab, add your own parameters to the boxes, and you can search anywhere in the Metro Phoenix market. You will not leave this page, and, unlike other companies, we DO NOT ask for your name or email address to use this valuable service. Enjoy!
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Bob Hertzog
Summit Home Consultants
Visit the Desert Ridge Phoenix website
Copyright © By Bob Hertzog 2010 *Desert Ridge Homes Monthly Real Estate Report-November 2010*
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