Currently it is a strong Seller’s Market. Don’t believe me? Right now as of this moment there are only 28,744 homes for sale in the entire Phoenix Metropolitan area from Arizona City to Anthem, from Gold Canyon to Tonopah. This includes condos, town homes, shacks, mansions in Scottsdale, and everything in between. Let’s see. In November of 2010 , just about 9 months ago, there were 42,000 on the market where it was candy land for the buyer and we could get homes for about 5% below list price. Just so you know in our region about 35,000 homes for sale is where it is more of neutral playing field. More stats: There are 12,626 homes that are currently under contract with only about 13,802 new homes added to the MLS. The point I am deriving from this number is that people are buying them almost as quick as the home are being added to the market. For June: Over 10,700 Homes Sold in our Phoenix Valley – That is a record number for one month closing figures and I think the last time we even hit 10,000 was in 2004. SECTOR January February March April May June MARICOPA 198 195 302 255 269 298 CASA GRANDE 98 91 130 127 133 131 QUEEN CREEK 333 342 485 439 441 488 VALLEY WIDE 6586 7194 9967 9479 9881 10734
Look at this chart. You can see how heavy sales have been in the last 6 months.
Average Days on Market is now at 77 days before a property goes under contract. That is phenomenal. And there are some homes that have been on the market for awhile, which in this quarter, went under contract.
Sales Price Median percentage change from 12/2010 – 7/2011 SECTOR 6 MONTH % (+/-) SALES PRICE SAN TAN VALLEY/QUEEN CREEK -1% MARICOPA +2.5% CASA GRANDE +9.2% CHANDLER +.09% GILBERT -3.2% MESA -7.6% TEMPE +1.6% SCOTTSDALE -3.7% PHOENIX -.04% VALLEY WIDE -1.1%
Casa Grande is kicking butt with a heavily shortened supply of homes and steady buying. Casa Grande does not have a million homes. In fact, only 48,000 people live there. The question is if there is such a short quantity of homes to begin with and people have been steadily buying up the inventory of foreclosures, how big can the next wave be in places like Casa Grande and Maricopa, if there is a next wave?
As you can see Gilbert and Mesa and Scottsdale are still dropping in values. Maybe that’s where the next wave will hit, again, if there is a next wave as some naysayers are vouching for.
TOP 5 Bank Owned Home Deals in Casa Grande, Arizona!
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Casa Grande BANK OWNED HOME LIST click here!
Casa Grande HUD HOME LIST click here!
If you would like to gain access to great home bargain deals, please take a look at the above links and or contact me personally at 1(800) 545-2849. My name is Marc Montgomery.
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