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Bulletin: Fountain Hills Market Update

By
Real Estate Agent with ReMax Sun Properties

If you’re looking for good news, read on. Our housing market is showing some signs of improvement! Is it just a bleep on the screen or is it the beginning of the bottom?

Let’s first look at an overview and then we’ll examine the details.

Market Overview

The number of single family houses for sale is down from 496 three weeks ago to 490. A decrease in inventory is a good sign.

The number of sales has also increased indicating there is more market activity.

From February 25, 2009 to March 22, 2009 there have been 40 houses reported as pended, meaning they received accepted contracts. This is the second consecutive month where more than one house per day has received an accepted offer. Again, a good sign.

Looking for a single family house? Obviously you still have lots of choices.

Detailed Overview

Price Range                      # Available         # of Foreclosures
$100,000 to $200,000              20                         12
$200,000 to $300,000              52                          9
$300,000 to $400,000              42                          4
$400,000 to $500,000              55                          3
$500,000 to $600,000              57                          1
$600,000 to $700,000              33                          4
$700,000 to $800,000              28                          1
$800,000 to $900,000              20                          3
$900,000 to $1m                      10                          1
$1M to $1.5M                            68                          1
$1.5M to $2M                            49                          1
$2M to $3M                               46                          1
$3M plus                                   10

What houses have buyers been buying?

Detailed Overview of what buyers have bought in the last 3 ½ weeks.

Price Range                       # Pended          # of Foreclosures
$100,000 to $200,000               2                           2
$200,000 to $300,000               9                           1
$300,000 to $400,000              11                          2
$400,000 to $500,000                8                          4
$500,000 to $600,000                4                          1
$600,000 to $700,000                1
$700,000 to $800,000                1
$800,000 to $900,000                1
$900,000 to $1M                        1
$1M to $2M                                 1
$2M to $3M                                 1

I track the market daily.

Whether this trend will continue remains to be seen.

Feel free to comment or ask questions or visit this site again for more updates on our Fountain Hills real estate market.