Arizona Biltmore Home Sales - September 2016





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January 2015 Arizona Biltmore Housing Update

AZ Biltmore Market Update

Lets stand back and look at what has happened in the 85016 zip code where the Arizona Biltmore homes are. Lets see if prices are up, and lets see if homes are selling fast, or not. Sellers want all the information they can get up front. Sellers who wing it and put their home on the market before knowing market trends may be in for a bumpy and uncomfortable ride. Just like anything else, we want tp be prepared. And having the data, makes us educated and clear about where to aim. Buyers are buyine in the Biltmore now, so why not make your home the most attractive one on the market.

We know that every home is different, and eventually it makes sense for a home seller to get data even more specific than you will find here. Every street, every floor-plaan, every subdivision will have it’s own micro economy. What works in one community won’t work in another. When it’s time for you to sell your home we’ll be happy to provide you with all of this data. You can reach us anytime at (480) 442-3501.

 

 

New Listings in the 85016 Zip Code

 

Listings are pouring onto the market. That may be because sellers see a trend and want to get in on a good thing. It could also represent fear or impatience. In either case the stats are what they are, and it’s clear to see that the average number of listings over the last 5 years is around 105 listings compared to 121 in January 2015. The following charts and graphs will make this Arizona Biltmore Housing Update substantially more useful for you as a person interested in our local market.

 

 Closed Sales in the 85016 Zip Code



The green band represents the 5 year January Closed Sales average; this is the average number of homes sold in the month of January averaged out for 5 years. Anyhow, the average number of homes sold over the last 5 years in the month of January is 47 homes. Compare that to January 2015 where only 34 homes were sold and you can see that sales are down by 27% in January 2015. It will be interesting to see if homes are selling for more money now than they have in recent years. We will look at those charts next.

 

5 Year Median Sold Home Prices for 85016

 

As you can see there’s a nice upward trend taking place over the past 5 years. Sometimes it’s easy to get tunnel vision by being too focused on current trends and then forgetting to look back and see if those trends are coming from a previously stable or faltering market. That’s why I like 5 year snapshots. Obviously the overall market in the 85016 zip code is trending up. Obviously there’s good reason to be optimistic about values.


Different Trends for different Types of homes


Below is a chart that demonstrate how various property types can perform quite differently in the market. Study each to see where your home may fit into the grand scheme of things



We hope that this Arizona Biltmore Housing Update helps give you insight into your position in the local housing economy. Please do call (480) 442-3501 to arrange a time when we can get together to meet and discuss your real estate goals.


SEARCHING FOR A HOME IN THE 85016 ZIPCODE OR OTHER SURROUNDING ZIPCODES?

Below are some pre-built zip code home searches for your convenience.


I’m John Cunningham Phoenix Real Estate Agent. I am here to help you with your real estate needs. I provide free information on the market, so that you can make wise decisions about your buying or selling decisions before you get your wallet involved. If you have any questions about the market I CAN help you. I look forward to continuing to build a reliable stream of market data that you can take to the bank.

 

Phoenix Real Estate Stats for 85016 zipcode Aug 2013 

 

Phoenix Real Estate Stats – Market Activity

Prices-Up


Back in August 2012 there was a total of 65 sales in the Phoenix Real Estate Stats for 85016 zip-code in the entire month. Compare that to the 2013 total of 85 sales which represents a 30% jump increase. See all of the homes in the 85016 zipcode for sale.

Median SOLD Price Phoenix Real Estate Stats in the 85016 zip-code

 

Average Days on Market – Phoenix Real Estate Stats

As you can see the number of days that it has taken to sell Phoenix Real Estate in the 85016 zip is nearly half in August 2013 as it was one year ago; 110 days on market compared to 62 days in 2013! If you are lookinmg to discover the gems available for sale in Phoenix today it is critical that youi be in tune with the market becasue the good ones are selling in far less time than the average homes. It is not uncommon for a well marketed home to move from available to “under contract” in less than a week in todays market as there are so few homes for sale now.

If you are on the lookout for a home and want the power of the Phoenix MLS Search then this link will provide you the most up to date data available for your quest for a home. Feel free to text of call John at (602) 558-3843 with any detailed questions about what you see in the results.

Phoenix RE Home Sales Stats Insider View

 

Number of Homes Sold in Phoenix in 2013

2013 Has been good to homeowners and buyers alike in the city of Phoenix.  Today we are here to study the Phoenix RE Home Sales Stats Insider View. We’ll explore what has happened so far in 2013, and look at the Currently Available Homes for Sale in the City of Phoenix. The number of homes sold so far this year is up over 35% since the beginning of the year. The number of homes sold in June was down slightly compared to the month of May.Phoenix RE Home Sales Stats

Median Home Prices across the city of Phoenix

As interest rates have been at extreme low numbers the buying has increased and so have the prices. Home prices are up nearly 30% from January 2013, and they don’t appear to be headed down any time soon. The median Sales price in January was $131,250 and in June 2013 the median price was $166,900. 

 

How long is it Taking to Sell a House in Phoenix?

This is one of the big questions that sellers have when considering to sell their home. In an ideal sellers market homes would fetch more money than any previous sale in the neighborhood and would sell instantly to the ideal all cash buyer. Back to reality. Markets go up and down, and they speed up or slow down. Right now the market is zooming at record pace compared to the rest of the year. The June numbers prove that homes have never sold faster in 2013. At the height of 2013 homes took as many as 66 days to sell on average. In August 2011 homes were taking 93 days on average, so you can see that 66 days is still quite swift when we look back over our shoulders at previous history. The Days On Market (DOM) for this year’s month of June is 55 days! So when we price a home to market and properly advertise a well prepared home we need to have that seller ready to move into their new place fast.

DOM –  Important Phoenix RE Home Sales Stats

Need more information for Phoenix RE Home Sales? Feel free to text or call me at (602) 558-3843 for more information.  If you are considering the purchase of a home in the Phoenix metro area and are unfamiliar with the valley you are in for a treat. There are several great cities to consider (almost 20 of them in fact). Why don’t you take a peek at some of the city home searches for Phoenix Real Estate, Scottsdale Homes for Sale, and Chandler Property. This will give you a great start.

Arizona Biltmore Real Estate Market Report in 85016 

 



The Arizona Biltmore and 85016 zipcode Real Estate market have been busy for the last three months. Lets examine the numbers for the area.

 

85016 Home Sales Soar Like a Rocket

85016 housing numbers

These numbers are very striking and mean that the 85016 zipcode is currently red hot. hover over the January point in the line graph and you will see that there were a total of 55 Sales that month. Now, fast forward to May and do the same; you will see that there were 105 homes sold in May which is nearly double the January figure!


New Listings Gain Steam in 85016


Without surprise sellers who have been waiting for years are jumping into the market. Look at the March Listings; there were 88 homes listed in March in the 85016 zipcode.  In May the total number of new listings in the 85016 area went skyward to 120 new homes newly listed for sale.

 

Average Price of Homes Sold Moving Up Again


As summer nears the median price has come down slightly while the average price of a home sold in the 85016 zipcode is again coming up off the previous months high.


 

Average Days on Market Trending Lower in May vs April

85016 Homes Sold – first quarter 2013

 
Market Updates for the Arziona Biltmore

Biltmore Real Estate Sales Numbers

Today we are going to look at the 85016 Homes Sold – first quarter 2013.First we will see how the 85016 real estate sales in general performed for the first 12 weeks of 2013 and then we will begin to peel the onion back and look more closely at the performance of three price-points.

To stay on top of the market come over to the Market Updates Tab at Biltmore411.com to be in the know, and call John Cunningham at 602-558-3843 if you want a market analysis specific the the neighborhood where your home is.

 

85016 Homes SOLD first quarter 2013

 

85016 Homes sold Between <$50,000 – $200,000.


Nothing to surprising here; there isn’t much activity below $50,000, and there is much more happening in the $150K – $200K price-band. What about homes sold between $200,000 – $600,000?

 

85016 Homes SOLD between $200,000 – $600,000

Here we see that in March 2013 there were only 2 homes sold between $400,000 – $500,000, while at the same time there were 7 homes sold that were priced between $500,000 – $600,000.

85016 Homes SOLD between $600,000 – $5 Million

 

 

85016 Number of Active Listings – First Quarter

Look closely and you will see that we have had another decline in active listings for the month of March over February and January 2013. It may not seem that noticable until we look at athe next graph which displays the inventory over the last 2 years.

Number of Active Listings – April 2011 to Present

Many buyers who enter the market to buy a home in Phoenix rely on the tales told by their friends who may have purchased a couple of years ago when there was a glut of inventory when the Phoenix real estate market was bank owned and short sale saturated. Today is a much different story.

When a buyer wants to buy today in Phoenix they need to be ready to compete for the house they want. Prices are still good and interest rates have never been better, so when a good home hits the market it is not uncommon to have multiple offers within one day.That’s just the landscape of the marketplace today, and it can be a shock to anyone who enters into the marketplace.

I hope that these snippets of data give you a good picture of the 85016 Homes Sold – first quarter 2013. If you happen to live in the 85016 zipcode this will be relative, and if you are having thoughts of buying or selling you will need data that reflects the sale of homes that are most similar to the one you are thinking of buying or selling. Research is critical to making a wise decision, and being off just a few percentage points can mean leaving tens of thousands of dollars on the table.
Give me a call at 602-558-3843 if you need an evaluation created for your next real estate transaction. Check out all of the Biltmore Home Communities at Biltmore411.com to see what’s for sale in the Biltmore.

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. 

Phoenix Real Estate market Trends

Ask any agent and they will tell you that the market is very low on inventory. Listen as Michael Orr forecasts Phoenix inventory shortage one year ago.

 
  Number of Active Listings
  Number of New Listings

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

Another interesting statistic to study is Days On Market (aka: DOM). As you can see homes are selling fast.

 
  Average CDOM (in Days)

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

Home prices have risen too.

 
  Active Avg List Price (in Dollars)
  New Avg List Price (in Dollars)
  Active Median List Price (in Dollars)
  New Median List Price (in Dollars)

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

If you want to really drill down to brass tacks and know the value of your home you are going to need a detailed analysis which includes sales data of homes similar to yours; we call this a Competitive Market Analysis (aka: CMA). Give me a call at 602-558-3843 if you are having thoughts of selling and I will work up a CMA for you and we can sit down together and go over the details so that you fetch top dollar when it’s time to sell your house.


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

AZ DRE License Number: LC634213000