Anthem, AZ real estate – Market report May 2011

We saw a bit of a fall of in Anthem home sales for May. Year over year we’ve fallen off by about 50%, confirming that indeed we may have had a double dip downturn in the Anthem real estate market. However, prices have not fallen as dramatically as we saw at the nadir of the market in 2008.  With only 131 homes on the market demand is going to quickly out strip supply. And we know what happens then.  Prices begin to increase.  There are currently 232 homes in pending status.  Most of these are short sales, so we will see a steady stream of these becoming solds over the next several months.  Here are the numbers for May 2011:

                                                 May ’11       April ’11       May vs. Apr.      May 11 vs. ’10

# of homes Sold                    48                  53                          (9%)                      (49%)

Average Sale Price       $189,144   $209,247                 (10%)                      (14%)

Average List Price        $192,020   $214,224                 (10%)                     (15%)

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

Avg. Price per Sq. Ft.       $88.88      $88.89                        0%                        (3%)

Avg. D.O.M. for Sales         127             100                            27%                       79%

Highest Sale Price        $610,000   $509,000                  20%                          2%

Lowest Sale Price            $91,500    $105,000                 (13%)                       (5%)

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

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