Arcadia Homes Monthly Real Estate Report-November 2010
Arcadia is a very unique neighborhood, located in the 85018 Zip Code in Phoenix, AZ. Because much of Arcadia is located in what many consider to be the best school district in Arizona (Scottsdale Unified School District), and offers such amazing dining/shopping opportunities and lush green neighborhoods, this area has become extremely popular for people looking for their next home. Add to that it's proximity to Old Town Scottsdale, and you get the perfect combination when looking for your next home. The 85018 Zip Code is commonly referred to as Arcadia, and for the purposes of this report, I have included all real estate activity that has occurred in the past month within 85018.
Subscribe to my blog to get a copy of the Arcadia Homes Monthly Real Estate Report each month. 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 are listings that are classified as being owner agent, probate, court approval required, etc.
There are currently 355 Active Listings on the market:
210 Are Traditional Listings
68 Are Short Sales
56 Are Bank-Owned
21 Are Other/Misc.
There are currently 126 Pending Listings:
34 Are Traditional Listings
67 Are Short Sales
18 Are Bank-Owned
7 Are Other/Misc.
During the month of November/2010, there were 45 Closed Listings:
17 Were Traditional Listings
11 Were Short Sales
13 Were Bank-Owned
4 Were Other/Misc.
Finally, in the Arcadia 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 Arcadia was $113.48 per square foot.
The Average Price/Square Foot for homes sold in November/2010 in Arcadia was $106.49 per square foot.
This represents a 6.2% decrease in price/square foot within the community from October to November/2010. This is probably due to the fact that 13 of the 45 closed listings in November were Bank-Owned homes.
If you are looking to buy in the Arcadia community, feel free to contact the Arcadia Homes Team directly for a more in-depth analysis of area. We pride ourselves on our long-standing reputation of representing buyers in the Arcadia market, as well as surrounding neighborhoods in the area.
Or, if you are looking for the exclusive Arcadia MLS Search, you've come to the right place. Our MLS 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 currently live in the Arcadia market, and are looking to sell your home, look no further. Call Bob Hertzog today 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 our blog to receive the Arcadia Homes Monthly Real Estate Report.
Below is a map of all available homes currently listed in the Arcadia area. If you would like to conduct your own search, simply click on the red "Search" tab, enter your parameters into the search boxes, and you can search anywhere in the Metro Phoenix/Scottsdale markets. You don't need to click away from this page, and we don't ask for your name or email address to use this amazing search engine. Enjoy!
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Bob Hertzog
Summit Home Consultants
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Copyright © By Bob Hertzog 2010 *Arcadia Homes Monthly Real Estate Report-November 2010*
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