Your Trusted Advisors In Real Estate TODAY’S MARKET FACTS
ZIP code 85255 single family homes: • In May 2009, 67 homes sold, which is a 1% decrease from May 2008. • 2009 year-to-date unit sales are up 8% to the same period last year. • Inventory is down 1% to last May. • Homes currently under contract are up 31% and represent the highest number of homes under contract for any month in the last 24 months. • With sales up and inventory down, the months of supply has dropped to 9.9 months. One year ago supply was 16.3 months, and last month it was 12.2 months. • Distressed properties in 85255 represent 16% of the listings, 39% of homes sold YTD and 52% of those under contract.
July 2009
REAL ESTATE ACTIVITY IN
Inventory levels continue to decrease and median prices are holding on a valley wide basis. The majority of the activity continues at the bottom price levels, which would equate to prices below $250,000 for the Greater Phoenix Metro area and to prices below $500,000 in 85255. Movement is beginning at the higher end of the market as those who have been sitting on the sidelines decide to take advantage of the lower prices and interest rates. “Quality is never an accident; it is always the result of high intention, sincere effort, intelligent direction and skillful execution.” — Willa A. Foster All your efforts garnered the “right” activity – and hence a buyer and a closure in less than 60 days. While the transaction was flawless; that is not the part that was most appreciated. We found you to be an absolute pleasure to work with and feel like we have found great friends. — P. Miller, Seller
Would you like to receive automatic updates regarding your real estate neighborhood activity? Have a question about real estate? Email your questions to us at the email addresses below.
Whispering Ridge • $895,000 www.TourFactory.com/507516 2,853 sq. ft. / 2 Bedrooms / Den
It’s Cool to be Hot Resort “Staycations” Rock!
Grayhawk • $699,000 www.TourFactory.com/509998 3,081 sq. ft. / 4 Bedrooms / Den
SUBDIVISION # SS/ HOMES LO* May 2009 Sales 3 3 Pinnacle Peak Estates 1-3 1 1 Pinnacle Paradise 1 1 Pinnacle Peak Shadows 1 1
KIM BAKER Cell: 480.205.1345
MARY LYNN STENZEL Cell: 602.418.8537
Kim.Baker@SothebysRealty.com
MaryLynn.Stenzel@SothebysRealty.com
Russ Lyon | Sotheby’s International Realty 23733 N. Scottsdale Road, Suite 200 • Scottsdale, AZ 85255
Artesano • $2,995,000 www.TourFactory.com/397912 7,500 sq. ft. / 5 Bedrooms / Den
Pinnacle Peak Vistas IV • $885,000 www.TourFactory.com/507069 3,815 sq. ft. / 5 Bedrooms
AVG AVG AVG $/ AVG DAYS PRICE SQ. FT. SQ. FT. ON MKT $467,917 3,009 $156 84 $389,900 2,900 $134 129 $555,350 3,125 $178 31 $458,500 3,001 $153 92
Jan-May YTD 2009 Sales Canyon Heights Los Gatos Pinnacle Paradise Pinnacle Peak County Club Pinnacle Peak Estates 1-3 Pinnacle Peak Shadows Pinnacle Peak Vistas 1-4 Prado Estates Sonoran Highlands
24 1 2 2 4 5 2 5 2 1
15 1 2 1 2 4 1 4 0 0
$1,322,365 4,749 $2,300,000 13,000 $925,000 3,926 $1,002,675 3,897 $758,750 3,755 $603,600 3,490 $471,750 2,867 $938,980 4,471 $6,095,000 9,767 $1,700,000 5,241
Currently Under Contract Canyon Heights Los Gatos Pinnacle Peak Estates 1-3 Pinnacle Peak Heights 1-4 Pinnacle Paradise Pinnacle Peak Vistas
16 1 4 8 1 1 1
10 $909,773 1 $1,650,000 1 $763,919 6 $609,475 0 $2,995,000 1 $584,900 1 $1,395,000
4,450 7,171 4,068 3,609 9,143 3,431 6,300
$278 $177 $236 $257 $202 $173 $165 $210 $624 $324
273 348 158 47 175 179 53 149 1513 328
$204 $230 $188 $169 $328 $170 $221
277 929 175 192 667 52 541
Relief for Homebuyers: Government Programs Offer Assistance Muddle it Up!: deseo’s Refreshing Summer Cocktail Pinnacle Peak’s Hot Real Estate Listings
*Short Sale (pre-foreclosure) or Lender Owned All information is deemed reliable but not guaranteed. If your home is currently listed, this is not a solicitation for that listing.
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