Tatum Ranch January 2012 Market Report

Tatum Ranch January 2012 Market Report 

Tatum Ranch is a master-planned community of 3,400 homes and five commercial sites in the northeast corner of Phoenix, where North Tatum Boulevard and Cave Creek Road meet.Tatum Ranch is within the Upland Sonoran Desert life zone, with seven washes or arroyos, trending northeast to southwest. It is home to some of the most beautiful native Sonoran Desert vegetation and wildlife in the entire Southwest. Residents enjoy the quiet beauty and serenity of the Desert. Because of its distance from the center of the metropolitan area (22 air miles) and its proximity to the New River Mountains to the north, the summer temperatures are usually 5 to 10 degrees cooler than recorded at Sky Harbor, and the night sky is dark and full of stars.

There were seven new listing and a total of 22 sales for the month of January. 

Average List Price: $225,866 up from $221,556 in December

Average Sales Price: $234,722, down from $239,112 in December.

Average days on Market: 110.  Up from 69 in December

Average List price to Sales price ratio: 97.4% up from 95.6% in December

As the number of homes in the Multiple Listing Service and in the Tatum Ranch community continue decline, we expect the list price to sales price ratio will continue tighten up.  Investors with cash will continue to edge out home buyers in multiple offer scenarios.

We are continuing to trend towards a seller’s market because of the lack of inventory.  However, prices are lower than they have been in close to 10 years and interest rates are nearing 60 year lows. 

If you are thinking about buying or selling a home in Tatum Ranch, call me for your free consultation.