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Desert Ridge May 2016 real estate stats

May 2016 saw a total of 47 home sales in the Desert Ridge area.  As of this writing there are 188 active listings, This brings the  inventory level to 4 months worth of supply based on the May sales.   There are currently 71 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 480-236-7374480-236-7374. Find out about the Desert Ridge Lifestyle now!

 

Total May sales: 47
Average Price Per foot: $190.83
Sale price as a percentage of list price: 98%
Average sale price: $419,145
Median sale price: $389,500
Average Days on market: 103

This breaks down by type as follows:

Single Family Detached Homes
Sale: 33
Average Price Per foot: $192.46
Sale price as a percentage of list price: 98%
Average sale price: $475,036

Median sale price: $434,900
Average Days on market: 84

Condos and Townhomes:
Total sales : 14
Average Price Per foot: $196.98
Sale price as a percentage of list price: 97%
Average sale price: $287,401
Median sale price: $275,250
Average Days on market:148

Last month I said that one month does not make a trend and that months of inventory was down and that could also impact future pricing.  Right on both counts.  Sales were steady, with price per foot slightly down, but average and median pricing up.  Months of inventory is down 10 days.  The overall market is still showing positive stability.

 

Adam Tarr PC
Citywide Real Estate
Phoenix AZ

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