September saw sales match those from the prior month, but a large dcrease when compared to September of 2010. We have separated single family home sales from condos and townhomes.
Single family detached sale:
# sold Ave. $.Sq.Ft. Ave.ADOM Ave price Median price
September 2011 8 122.46 104 $288,179 320,666
August 2011 10 137.87 73 $358,790 365,500
September 2010 22 124.92 67 412,231 432,750
Condo’s & Townhomes
September 2011 2 135.65 164 141,125 133,750
August 2011 2 133.05 80 181,250 181250
September 2010 7 156.37 167 251,228 228,000
Last month I mentioned that I view price per foot as the best indicator. It is less swayed by the number of sales or by the mix of sales. Well, despite that, this month the mix was swayed by a couple very low priced sales. Providing all of these stats however, helps to balance out any perspective on where the market is, has been and may be going. Regarding single family homes, you’ll see that the year over year numbers are relatively stable for $/ft.
While it won't tell us where prices will be, homes currently under contract total 86;indicating that the next few months should show strong sales numbers. Of those 86, 33 are contingent sales (short sale mostly), and 53 are listed as pending. Typically you will see pending sales close in 30-45 days, so October and November should see large numbers.
ADOM = Agent days on market. Areas included in these statistics are Desert Ridge, Aviano at Desert Ridge, Fireside at Desert Ridge, Toscana and Bella Monte.
Have a great day and make it great for someone else as well.
Adam Tarr PC
Citywide Real Estate
Phoenix,AZ 85050
www.WeAreAZRealEstate.com
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