Anthem AZ Real Estate – Market report October 2010

The Anthem AZ real estate market continues to slow down a bit as we approach the fall and winter months. The number of homes actively on the market decreased, and the number of homes that closed in October increased.   The average sales price of homes sold in October declined, but the average price per sq. ft. increased slightly. Which tells us that there were more lower priced homes that sold dragged down the average sale price, but the price of those homes are remaining strong as evidenced by the price per sq. ft.   The number of days on market remains fairly high.  This could be due to the number of short sales that are still dominating the market.   The burn rate remains at 2 months. Based on these statistics we are still in a full fledged seller’s market in Anthem.  Albeit most sales will be short sales for some time to come as most Anthem home owners have not recovered the lost equity caused by the steep market downturn.

If you or someone you know are considering purchasing a home in Anthem, now’s the time.

Here are the lastest stats for the week ending 10/31/10:

Active Listings:264 (Down 9% from Sept. ’10, Up 25% from Oct. ’09)

Homes Pending: 212 (Up 5% from Sept. ’10, Down 18% from Oct. ’09)

Homes sold in last 30 days: 28 (Down 15% from Sept. ’10, Down 69% from Oct. ’09)

Burn rate (Inventory on market / by homes currently under contract) =  2 months supply

Avg. Sale price (Solds): $197,718 (Down 8% from Sept. ’10, Down 15% from Oct. ’09)

Avg. price per sq. ft. (Solds): $88.60 (Up $.60 per Sq. Ft. from Sept. ’10, Down 6% from Oct. ’09)

Avg. Days on Market (Solds): 142 (Up 20 days from Sept. ’10, Up 74 days, 109% from Sept. ’09)

For graphical interpretation of this data please visit: www.allaboutanthem.com

For more general information about Anthem visit: www.onlineatanthem.com

And for more information about myself and my business partner and the Anthem real estate, Phoenix real estate, and Scottsdale real estate markets please visit our website at:

http://www.arizonapremiereliving.com/

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: