Anthem AZ Real Estate – Market Report March 2011

March saw a significant uptick in the number of homes sold in Anthem.  Which is typical of this time of year.  We’re still quite a bit off of last year’s pace.  That may be explained by the fact that the “bargains” are fastly disappearing from the market.  And there are fewer bank owned homes on the market in Anthem as, therefore buyers are relegated to purchasing short sales, which take much longer to close.  Pending sales illustrate this point.  There are currently 233 homes in pending status versus 211 active listings.  The average sale price is starting to stabilize as well as the bottom of the market.  As you’ll note the lowest priced home/condo sold for $91,900.  As I mentioned previously, the bargain basement homes are becoming a rare breed in Anthem.

Here are the numbers for March 2011:

Mar. ’11        Feb. ’11      Mar. vs. Feb.   Mar. 11 vs. ’10

# of homes Sold 47                   32                          47%                    (52%)

Average Sale Price $214,718            $187,158              15%                     (1%)

Average List Price $217,484            $193,750              12%                     (2%)

Sale Price % of List Price 99%                      98%                1%                       1%

Avg. Price per Sq. Ft. $87.64                  $86.78                1%                      (7%)

Avg. D.O.M. for Sales 93                          114               18%                    (15%)

Highest Sale Price $649,000             $535,300              21%                     30%

Lowest Sale Price $91,900                $75,000              23%                     18%

For more information about Phoenix, Scottsdale, and Anthem real estate click here.

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