Desert Ridge May Statistics
Desert Ridge is a wonderful Master Planned community located in Northeast Phoenix. Situated by the intersection of two freeways, access to all parts of the Phoenix metro area is convenient. Desert Ridge
is known for it's variety of shopping, dining, and homes as well as
award winning schools and the world reknown JW Marriot Desert Ridge
Resort.
Check out more on Desert Ridge here.
There were 14 sales during the month of May. These inlcuded condos and single family detached homes. There were 3 condos and townhomes ranging in price from $194,000 to 319,000 and in size from 1408 2 bed/2 bath to 1843 sq. ft, 3 bed/ 2 bath. The overall averages for all condos & townhomes price per foot ($/ft) was 159.69 and the median $/ft was $173.58. Average sale price was $274,333 while the median was 310K. Average days on market was 157.
There were 11 single family homes ranging from $155,000 to $660,000 and from 1648 sf to 4452 sf. The average $/ft was $141.54 and the median was $142.46. The average sale price was $427,909 and the median sale price was $380,000. Average days on market was 50
Comparing year over year, sales for May were down considerably from May 2011, which saw 42 sales. But, the average price per foot saw significant increases. The overall average price per foot increased almost 14.5% from $127.04 to $145.43. The lower sales may be attributable to the significantly reduced inventory, as well as more short sales versus foreclosures. Last year foreclosures made up the majority of sales. This year, short sale lead the listings and take longer to close. There are currently 95 listings under contract, the majority of which are short sales.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374