Desert RIdge Real Estate Stats for Feb. 2014
February 2014 saw a total of 21 home sales in the Desert Ridge area. As of this writing there are 145 active listings, This brings the inventory level to 6.9 months worth of supply based on the February sales. There are currently 52 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge
Lifestyle now!
Total January sales: 21
Average Price Per foot: $178.59
Sale price as a percentage of list price: 97%
Average sale price: $357,342
Median sale price: $300,000
Average Days on market: 61
This breaks down by type as follows:
Single Family Detached Homes
Sale: 16
Average Price Per foot: $177.62
Sale price as a percentage of list price: 98%
Average sale price: $387,142
Median sale price: $364,000
Average Days on market: 47
Condos and Townhomes:
Total sales : 5
Average Price Per foot: $162.38
Sale price as a percentage of list price: 96%
Average sale price: $261,980
Median sale price: $225,000
Average Days on market:105
As expected, February showed slowing in the overall market. Historically, February starts the busiest cycle in sales. February's sales numbers were even with January, but pending sales have increased from January, as did inventory. Average and median pricing was down significantly represent a mix of lower priced homes. The price per foot was up overall, and was expected. It was up for single family and down for condo/townhome. But with only 5 condo /TH sales, this can be skewed by one or two low sales. This is a more reliable indicator of market strength. This it the prime time of the year for vacation and snowbird sales so it is also the time that seller's know they have a larger potential market.
Adam Tarr PC
Citywide Real Estate
Phoenix AZ