Desert Ridge Market report 8/11
Desert Ridge Real Estate sales recap for August, 2011
August saw a drop off in sales from the prior month, but this is not unusual for the summer months. We have separated single family home sales from condos and townhomes. The latter also tends to fall off in summer as in the Desert Ridge area, these sales are often to vacation home owners who shy away from our summer heat.
Single family detached sale:
# sold Ave. $.Sq.Ft.
August 2011 10 137.87 73 $358,790 365,500
July 2011 19 131.72 79 350,468 385,000
August 2010 11 127.17 53 350,990 400,000
Condo’s & Townhomes
August 2011 2 133.05 80 181,250 181250
July 2011 5 144.38 243 234,217 209,900
August 2010 6 158.77 141 228,167 213,500
I am not saying this because it shows the rosiest picture, but I have always regarded price per foot as the best indicator. It is less swayed by the number of sales or by the mix of sales. The condo numbers are too small to give a real balance. Providing all of these stats however, helps to balance out any perspective on where the market is, has been and may be going. Regarding single family homes, you’ll see that the year over year numbers are relatively strong for $/ft and ave. price, but off when looking at median. Again the mix of homes sold will have a greater effect on median.
Overall, the numbers show some strength, but general expectations are for the overall market to remain stable without any real gains in the short term.
ADOM = Agent days on market. Areas included in these statistics are Desert Ridge, Aviano at Desert Ridge, Fireside at Desert Ridge, Toscana and Bella Monte.
Have a great day and make it great for someone else as well.
Adam Tarr PC
Citywide Real Estate
www.WeAreAZRealEstate.com