Anthem, AZ Real Estate Market Report February 2014

Picture of 4535 W. Fortune Dr.

The Anthem AZ real estate market picked up a bit in February.  Home sales increased, as did prices. The 12 month moving average sale price is still up but only by 2% now.  So we’re continuing to see the price increases from year over year statistics narrow a bit, signifying a tapering in price increases.  The number of homes on the market increase to 286, up 70% over last year, creating more downward pressure on price.  Days on market also rose to 91,  90 days on market typically signifies a neutral market.  Price is once again king in the market.  Homes that are priced to meet the market are selling quickly, those that aren’t are sitting.

Here are the latest stats for the month ending 2/28/14:

Active Listings: 286 (Up 15% from Jan. ’14, Up 70% from Feb. ’13)

Homes Pending: 96 (Down 3% from Jan. ’14, Down 41% from Feb. ’13)

Homes sold in last 30 days: 59 (Up 26% from Jan. ’14,  Up 59% from Feb. ’13)

Burn rate (Inventory on market / by homes currently under contract) =  3.98 months supply

Avg. Sale price (Solds): $317,050  (Up 10% from Jan. ’14, Up 36% as Feb. ’13)

Avg. price per sq. ft. (Solds): $125.28  (Down 1% from Jan. ’14, Up 10% from Feb. ’13)

Avg. Days on Market (Solds): 91 (Up 34% from Jan. ’14, Up 28% from Feb. ’13)

To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com

To search Anthem homes for sale please visit: www.JWMurphy.LongRealty.com

Like us on Facebook at: https://www.facebook.com/pages/All-About-Anthem-presented-by-Jerry-Murphy/160387230685769

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