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?
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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.