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Desert RIdge Real Estate Stats for May 2014

May 2014 saw a total of 43 home sales in the Desert Ridge area.  As of this writing there are 151 active listings, This brings the  inventory level to 3.51 months worth of supply based on the May sales.   There are currently 64 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 May sales: 43
Average Price Per foot: $188.59
Sale price as a percentage of list price: 98%
Average sale price: $420,370
Median sale price: $425,000
Average Days on market: 62

This breaks down by type as follows:

Single Family Detached Homes
Sale: 33
Average Price Per foot: $186.77
Sale price as a percentage of list price: 97%
Average sale price: $464,646
Median sale price: $440,000
Average Days on market: 53

Condos and Townhomes:
Total sales : 10
Average Price Per foot: $194.61
Sale price as a percentage of list price: 98%
Average sale price: $313,540
Median sale price: $300,000
Average Days on market:91

 

May continued to show gains in price per foot, the most stable indicator.  This is expected as pricing tends to lag activity by a few months. All Desert Ridge statistics saw improvement during May. Volume across the valley has slowed, and we will see price gains slow as well. Summer typically brings a decline in sales activity.  So far the sales graph has echoed most years, albeit at lesser numbers. 

Adam Tarr PC
Citywide Real Estate
Phoenix AZ 

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