January 2013 market update for Phoenix, 85050

By
Real Estate Agent with MavRealty

January 2013 saw a total of 42 homes sales in the 85050 Zip code of Northeast Phoenix.  As of this writing there are 63 active listings and 130 under contract within 85050, so the inventory levels  are holding to 45 days worth of supply based on the January sales.  85050 encompasses an area roughly bounded by Union Hills Drive, Cave Creek Road, Jomax Road and Tatum Boulevard in Northeast Phoenix.   Some of the main attractions and destinations in 85050 include Desert Ridge MarketPlace, Musical Instrument Museum, Horse Lovers Park, Reach 11 Sports Complex, Excelling Paradise Valley Unified School District schools and much more.  The  junction of the Loop 101 and SR 51 lies in the midst of 85050 for easy access to all parts of the valley.  For more information on the area as well as available homes, please  call me at 480-236-7374.

 

January sales are down significantly from December, which is common for past years.  Purchasing activity is down during the holidays which translates to less closings in January.

Total January sales:42
Average Price Per foot: $143.44
Sale price as a percentage of list price: 98%
Average sale price: $296,068
Average Days on market: 60

This breaks down by type as follows:

Single Family Detached Homes
Sale: 37
Average Price Per foot: $140.77
Sale price as a percentage of list price: 98%
Average sale price: $305,685
Average Days on market: 59

Condos and Townhomes:
Total sales : 5
Average Price Per foot: $162.67
Sale price as a percentage of list price: 97%
Average sale price: $224,900
Average Days on market: 64

Prices for all properties ranged from $62K for a 3/2 SFD home  to $724,990K for a Single family home in Fireside at Desert Ridge with 5/4.5, 4306 sq. ft. Data includes single family detached homes, town homes and condos.  It does not include mobile or land.

 

Adam Tarr PC
Citywide Real Estate

 

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