Buyers are coming out of the woodwork! Literally. There's been a surge in home buyers since 2012 started. Every buyer I'm helping is looking for a model perfect, move in ready home...whether they're a first time buyer, looking for their winter home or relocating -no one wants a fixer upper. That fact coupled with low interest rates and a historically low housing inventory means the bidding wars have begun. When a turn key home hits the market under $200,000, buyers are scrambling to get there first - many times there will be up to 15 offers or more by the end of the day. It's common to see comments in listings such as 'Seller will review all offers on xyz date. Bring your highest and best offer.'
At an industry meeting I attended last week, we learned that last month Maricopa County has just over 11,000 single family detached homes listed on the market - about 2 months worth of inventory. A normal market has about 6 months of inventory or three times that amount!
What do Sonoran Foothills home sales look like today?
* 43 homes are actively listed for sale or pending sale
* As of 2/12/2012, 11 homes have sold and the overall ave dollar per sq ft is $94/sq ft compared to $91/sf overall in 2011.
For a year to year comparison from 2005 through 2011 and a value overview of Sonoran Foothills Homes, visit The Truth about Sonoran Foothills Home Values in Phoenix, Arizona 85085
Keep in mind that there are a variety of home builders with varying ranges of home prices from affordable to semi-custom luxury homes throughout Sonoran Foothills. This is an overall snapshot of the Sonoran Foothills community. Based on the home sales over the past year, we're actually seeing a slight increase in sales prices. This is not happening throughout the entire valley! This is a growing, thriving area with companies like W.L. Gore opening one of their main campuses right here in our community. I'm helping several employees relocate to the area. They're actually still expanding the campus and some of the employees who have already relocated are working out of a temporary office on Happy Valley until 2015, so there's much growth to be had as more and more employees are relocated.
If you have questions about your specific subdivision or home value in Sonoran Foothills, please feel free to contact me. I'm happy to do a detailed analysis for you. Visit www.SonoranFoothillsCommunity.com for local events, jobs, real estate and more!
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Data pulled is as accurate as the listing agent entered it.