The Anthem real estate market showed us a little love in February, but there are still some unsettling signs being posted. The total number of homes sold was up 17% from January, and up 39% over February 2016. The average sale price was down 14% from January and up 4% year over year. The 12 month moving average was flat again month over month, and up only 1% from last year. The price per square foot was also flat versus January and down 1% year over year. The days on market increased dramatically, now standing at 105 days, up 69% from January and up 36% from February 2016. The burn rate, (or homes under contract versus homes on the market) is now about 2.58 month’s supply, still signalling a sellers market. There are now 190 homes on the market in Anthem, and 120 homes pending/under contract.
The points that are seemingly unsettling is that we are seeing the lower price range of homes selling but not the higher end. The highest priced home sold in February was $466,000, the lowest we've seen in a while. Much of this may be attributable to the slow down in the Country Club where we have seen considerable slowing over the past several months. Whether this is a sign of home prices out stripping income or simply the fact that many people do not want to pay the higher HOA dues in the Country Club is yet to be seen. Keep an eye out her for further information.
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Here are the latest stats for the quarter ending 2/28/17:
Active Listings: 190
Homes Pending: 120
Homes sold in last 30 days: 68 (Up 17% from Jan. '17, Up 39% from Feb. '16)
Burn rate (Inventory on market / by homes currently under contract) = 2.58 months supply
Avg. Sale price (Solds): $291,289 (Down 14%. from Jan. '17, Up 4% Feb.. '16)
Avg. price per sq. ft. (Solds): $135.84 (Same as Jan. '17, Down 1% from Feb. '16)
Avg. Days on Market (Solds): 105 (Up 69% from Jan. '17, Up 39% from Feb.'16)
Highest Sold: $466,000
Lowest Sold: $149,000
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