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Market Notes – Sept 5, 2015

Maricopa Residential Real Estate Update, September 5, 2015: The number of available homes inched up for the first time in the last 4 weeks with 304 subdivision homes now actively listed on the MLS at an average of $87.37 per square foot. 195 homes are currently under contract, down from 218 the week prior and it was a huge week in sales as 51 homes closed escrow over the last 7 days, selling at an average of $76.48 per square foot and bringing our YTD numbers now to 1,057 homes sold, selling at an average of $77.23 per square foot. One aspect of the market we haven’t looked at lately is the distressed market, which still stands at just about 9% of the total. 27 distressed properties are currently available on the MLS listed at an average of $70.89 per square foot.

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Market Notes – August 29, 2015

Market Notes August 29, 2015: Another week, another slight drop in the number of available homes. Just 287 subdivision homes are currently available on the MLS, listed at an average of $87.43 per square foot. 218 homes are currently under contract, and it was a decent week in sales as 32 homes sold at an average of $82.77 per square foot, bringing our YTD numbers now to 1,005 homes sold at an average of $77.14 per square foot. Note the $82.77 per square foot closing average last week – that is just the second time this year and for that matter, just the second time in the last 8 years that the selling average has been that strong. Values are creeping up albeit at a much slower pace.

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Market Notes – August 22, 2015

Market Notes August 22, 2015: Could we be headed towards a shortage of inventory? Quite possibly. Just 290 subdivision homes are currently available on the MLS, listed at an average of $87.91 per square foot. Out of those 290 homes, 49 are new builds, and 40 are distressed homes, meaning either a short sale or bank owned home, so just 200 traditional resale homes are available, easily the lowest number of available resale homes in the last 5 years. 225 homes are currently under contract, down from 235 the week prior, and it was a strong week in sales as 39 homes sold, selling on average for $74.78 per square foot and bringing our YTD numbers now to 974 homes sold at an average of $76.96 per square foot.

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