TRAMONTO....April 2012 The Phoenix Market is Hot AGAIN

By
Real Estate Agent with Residential Sales, Purchases, Investors, Vacation Homes
http://actvra.in/zBH

TRAMONTO....April 2012

The Phoenix Market is Hot AGAIN!!

HOTThe Phoenix Real Estate market is HOT again.  Year over year inventory levels have decreased 53%, from 30,230 in March of 2011 down to 14,175in March 2012.  The median sales price has increased18.1% from $110,000 in March of 2011 to $129,900 in March of 2012.  Trustee’s sales are down 59.6% and new notices of Trustees sales are down 21.2%.  All good news, right?  This scenario greatly resembles what was going on in 2005.  The big difference …… the value of our homes.  On average homes values have dropped 55% since our peak.  Some areas decreased more and some areas less.

 

 

 

So how do these numbers compare to Tramonto? Tramonto Inventory levels have dropped 33%.  From 18 homes in March of 2011 down to 12 homes in March of 2012.  The median sales price in March of 2012 is $204,750 up from $174,000 in March of 2011.  There were 16 sales in March of 2012 and 17 in March of 2011. Trustee’s sales were up 75% in March of 2012.

 

  

 

TRAMONTO 1ST QUARTER 2012  AVERAGES

         Average Sales Price:                      $203,305                      Average Active Market Time:   60 Days

         Average Sales Price Per Sq Ft:      $84.17                                          # of Homes Sold in the 1st Qrt 2012:     41

Properties Sold for an Average of  98% of Listed Price

 

 If you are a buyer in this crazy market then you know firsthand the challenges of trying to find a home to purchase.  Low prices and a shortage of supply have lead to numerous showings and multiple offers.  If you are thinking about selling your home, make sure your home is ready to show, be prepared for multiple showings and pack your bags.

Posted by

Debora Nichols 

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If you or someone you know is thinking about buying or selling a home in the Phoenix Area, please allow me the opportunity to show you how I can help you.  I work throughout most of the Phoenix  area, but my areas of expertise are  North Phoenix, Scottsdale, Cave Creek, Carefree, Anthem, Desert Hills and New River 

Your Family and Friends are good hands when working with Deb

602-769-9217

 

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Rainmaker
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Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Debbie - isn't it CRAZY what's happened in our market - it was like a light switch was simply clicked.  Great report on Tramonto real estate. 

May 02, 2012 05:44 PM #1
Rainer
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Debora Nichols
Residential Sales, Purchases, Investors, Vacation Homes - Phoenix, AZ
Realtor Anthem,Phoenix,Scottsdale,Glendale,Peoria

Juli,  Crazy doesn't even to begin to describe.  But as I have been reading on Active rain, is is not just in Phoenix.  This is starting to happen all across the country.  De Ja Vu.

May 03, 2012 06:47 AM #2
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Debora Nichols

Realtor Anthem,Phoenix,Scottsdale,Glendale,Peoria
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