There were 11 homes sold in Desert Ridge in September 2007, with an average listing price of $628,154 and an average sale price of $617,527. Sale prices were 98% of list prices. Sold Price per Square Foot was $226.62. The range of sold homes was $345,000 to $1,059,900. As of October 1, there are 17 pending or contingent homes under contract. As of October 1, there are 136 active listings with an average list price of $743,063 and average list $/sq.ft. of $242.51
As expected, closings were down almost half from the previous month. As we pointed out last month, pendings were low, which resulted in this months lower sales. Seasonal factors such as the new school year likely affected these numbers. Active listings and price per foot on active listings remained almost even. One encouraging factor shows that sale prices are 98% of the list price, higher than it has been in months. There are a couple of possible reasons for this. First, sellers are adjusting to the market and marketing their properties at more reasonable levels, and second, the Desert Ridge submarket is stabilizing and the inherent value of the location, access and amenities continues to show through.
For more info on Desert Ridge, please feel free to contact us at desertridge@WeAreAZRealEstate.com.
Adam Tarr, ABR, e-Pro
Sharon Kotula, ABR
Your Phoenix Area Real Estate Source