Desert RIdge Real Estate Stats for Jan. 2014
January 2014 saw a total of 21 home sales in the Desert Ridge area. As of this writing there are 136 active listings, This brings the inventory level to almost 6.5 months worth of supply based on the January sales. There are currently 40 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
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Total January sales: 21
Average Price Per foot: $171.02
Sale price as a percentage of list price: 98%
Average sale price: $417,361
Median sale price: $370,000
Average Days on market: 64
This breaks down by type as follows:
Single Family Detached Homes
Sale: 16
Average Price Per foot: $170.07
Sale price as a percentage of list price: 98%
Average sale price: $456,306
Median sale price: $398,000
Average Days on market: 69
Condos and Townhomes:
Total sales : 5
Average Price Per foot: $174.03
Sale price as a percentage of list price: 98%
Average sale price: $292,736
Median sale price: $329,678
Average Days on market:102
As expected, January showed slowing in the overall market. This is normal at this time of year, as closings in January result from December contracts, and the holiday season brings fewer sales. Pending sales have increased in January, as did inventory. February traditionally starts the strongest period for sales, and that trend appears to be continuing 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. I expect that the MSI will decrease next month.
Adam Tarr PC
Citywide Real Estate
Phoenix AZ