The Anthem real estate market remained fairly flat through to start off the year. The total number of homes sold decreased 2% from December, and was down 17% from January 2017. The average sale price decreased 1% from December and was up only 1% year over year. The price per square foot increased by 1% over December and up 9% year over year. The 12 month moving average ($327,329) continues to remain flat month over month and is now up 5% from last year. The days on market decreased, now standing at 64 days, down 10% versus December, but up 3% over January 2017. The burn rate, (or homes under contract versus homes on the market) is now about 2.53 month’s supply, leaning toward a seller's market. There are now 150 homes on the market in Anthem, and 98 homes pending/under contract.
Even though we have seen a shortage of homes on the market in Anthem over the past year or so we are still not seeing signifcant upward pressure on prices. Which signifies to me that we have reached a plateau of sorts in the Anthem real estate market whereby household incomes in the area will not support any significant price increases. But this is good. We don't want people buying more home than they can afford lest we have another market crash like that of '08/09.
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Here are the latest stats for the month ending 1/31/18:
Active Listings: 150 (Up 11% from Dec. '17,)
Homes Pending: 98 (Up 51% from Dec. '17)
Homes sold in last 30 days: 48 (Down 2% from Dec. '17, Down 17% from Jan. '17)
Burn rate (Inventory on market / by homes currently under contract) = 2.53 months supply
Avg. Sale price (Solds): $341,376 (Down 2% from Dec. '17, Up 1% from Jan. '17)
Avg. price per sq. ft. (Solds): $147.75 (Up 1% from Dec. '17, Up 9% from Jan. '17)
Avg. Days on Market (Solds): 64 (Down 10% from Dec. '17, Up 3% from Jan. '17)
Highest Sold: $728,450
Lowest Sold: $150,000
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