October 2016 continued the flattening we've been observing for the Anthem real estate market over the last several months. Home sales were up 3% versus September 2016, up 35% over October 2015. However, the average days on market increased to 94, up 16% over September and 16% year over year. In addtion. the inventory of homes on the market is at 3.05 month’s supply, edging in to a buyer's market. The price per square foot is up 3% year over year and the 12 month moving average now stands at $312,016, up 3% year over year as well. The number of homes currently on the market is 189, and the number of homes currently under contract is 92.
Usually the Anthem real market slows in the 4th quarter of the year, which is why it is best to look at year over year comparisons for any looming trends. Based on the numbers reported here and in previous months we're definitely seeing a slow down in the market. One other factor to note is that we tend to see a pull back in the market during Presidential election years. So keep an eye out here to find out if that is the case this year.
If you ever have any questions about the Anthem real estate market, or would like to get a free market analysis for your home, give me a call at 602-334-3757.
Here are the latest stats for the period ending 10/31/16:
Active Listings: 189
Homes Pending: 92
Homes sold in last 90 days: 73 (Up 3% from Sept. '16, Up 35% from Oct. '15)
Burn rate (Inventory on market / by homes currently under contract) = 3.05 months supply
Avg. Sale price (Solds): $315,856 (Up 4%. from Sept. '16, Up 12% from Oct. '15)
Avg. price per sq. ft. (Solds): $134.94 (Up 5% from Sept. '16, Up 3% from Oct. '15)
Avg. Days on Market (Solds): 94 (Up 16% from Sept.'16, Up 16% from Oct.'15)
Highest Priced Home Sold: $700,000
Lowest Priced Home Sold: $140,000
To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com
To search Anthem homes for sale please visit: www.AnthemAZhomesforsale.com
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