Anthem, AZ Real Estate Market Report - Feb. 2017

By
Real Estate Agent with Long Realty West Valley AZ RE Lic. #SA560004000

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.

Download my mobile app at: LongRealtyapp.com/JerryMurphy  to search for homes for sale, or just to find out what price that home down the street is listed.

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

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 for Anthem homes for sale go to: www.JWMurphy.LongRealty.com

 

Like us on Facebook at: https://www.facebook.com/pages/All-About-Anthem-presented-by-Jerry-Murphy/160387230685769

 

And follow me on Twitter at: JWMIMAZRealtor

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Rainmaker
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Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate

Hi Jerry, thanks for the detailed report on Anthem, AZ.  Sellers and buyers will do well to review this information and contact you with any follow-up.  John and Kat

Mar 18, 2017 05:14 PM #1
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Rainmaker
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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