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Biltmore Mountain Estates market update

Biltmore Mountain Estates Homes Sold

Biltmore Mountain Estates Market Activity

Here is the Biltmore Mountain Estates market update presented by agent John Cunningham. The last 2 years of Phoenix Real estate sales have been wild to say the least. 2 years ago people didn’t know if the market was headed north or south, and it took everything anyone had to step out in faith. Those who did were well rewarded as many of the houses in the valley were grossly undervalued, and there was plenty to pick from wether it be traditional sales, short sales, or bank owned properties.

 

 

Lets look at the Biltmore Mountain Estates Market

Today the Mountain Estates owners in the Biltmore are seeing that this is a great time to market their homes as even the luxury sales have recovered from the turmoil as the more expensive properties in these exclusive gated areas are attracting affluent buyers who want the finest homes available on the market today.

 

AZ Biltmore Absorbtion Rate

 
  Absorption Rate (in Months)

Information is deemed to be reliable, but is not guaranteed. © 2016

This chart does a great job of creating a visual of just how extreme the change in housing inventory is in the Biltmore area over the last year. We went from a bloated absorption rate of 8.5 months all the way down to a 3.5 months supply of available residences. And isn’t it interesting to see that this giant shift in the marketplace happened so quickly. Anyone who wanted to sell 10 months ago that held off may want to get off the fence asap as this is a great opportunity for sellers to get all they can out of the marketplace.

AZ Biltmore Days On Market

 
  Average CDOM (in Days)

Information is deemed to be reliable, but is not guaranteed. © 2016

The days on the market in the Biltmore area have shrank by nearly 20% from 84 days on market down to 70 days on market.  These strong indicators all point to a recovered Biltmore Mountain Estates Market. How long will the stability hold? I don’t have a crystal ball, and we all know that values can rise and fall. We also know that we are no where near the real estate prices of 2004-2006, and we probably will not gety back to those numbers for a good while as the market was seriously obese and out of balance. Today is much different as the home prices have increased incrementally rather than astronomically.

Take a look at the current available homes in the Biltmore Mountain Estates Market. Call John at 602-558-3843 if you have any further questions about this Biltmore Mountain Estates Market. Here is the WIKI page for the Arizona Biltmore if you are interested in the history of this storied place.

 


eXp Realty
3015 E Coolidge St #8
Phoenix, AZ, 85016
John Cunningham
real estate super agent

AZ DRE License Number: LC634213000