September 2016 saw a sharp drop off for the Anthem Country Club real estate market. The total number of homes sold in the Country Club was the fewest we've seen since Septermber 2014. The average sale price increased over August and year over year, but the 12 month moving average remained flat over August and actually decreased by 4% from last year. The first time we've seen that since we hit the bottom of the market in last summer 2011. The price per square foot also decreased by 2% from August and down 3% from last September. The days on market also jumped dramatically to 154 days, 29% greater than August and 21% over September 2015. The burn rate, (or homes under contract versus homes on the market) is now about 3.47 month’s supply, edging into buyer's market territory. There are now 79 homes on the market in the Club, and 32 homes pending/under contract. It's not time to sound alarm bells, but stay tuned for future reports to determine if we are now in a trend or if this was just an aberation.
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Here are the latest stats for the quarter ending 9/30/16:
Active Listings: 79
Homes Pending: 32
Homes sold in last 30 days: 10 (Down 60% from Aug. '16, Down 74% from Oct. '15)
Burn rate (Inventory on market / by homes currently under contract) = 3.47 months supply
Avg. Sale price (Solds): $377,705 (Up 1%. from 1st Qtr. '16, Down 8% from 2nd Qtr. '16)
Avg. price per sq. ft. (Solds): $153.20 (Up 2% from 1st Qtr '16, Up 4% from 2nd Qtr. '16)
Avg. Days on Market (Solds): 105 (Down 6% from 1st Qtr.'15, Down 10% from 2nd Qtr.'16)
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