6 minute read
BUSINESS
For more business visit glendalestar.com
GlendaleStar.com /GlendaleStar
Home prices increase as inventory remains low
BY LISA BAKER Glendale Star Contributing Writer
The average number of days a listing spent on the market in Maricopa County increased from 31.5 days in November to 33.1 days in December.
According to The Cromford Report, 42% of sales closed in Maricopa County in December sold for over the listing price, down from 46% of November sales. The closing price per square foot continues to increase, from $274.62 in November to $281.02 in December.
In December, 364 MLS listing sales closed in Glendale and 347 in Peoria. There are 182 active and available listings — not counting properties already under contract or pending close of escrow — in MLS in Glendale and 168 active listings in Peoria. That is 50% of one month’s inventory in Glendale, up from 49.2% last month, and 48.4% of one month’s inventory in Peoria,
down from 60%.
Maricopa County inventory today is 51.4% of December’s closed sales, down from 64.9% of November’s closed sales.
According to ShowingTime, the platform Realtors use to schedule most of the MLS showings, Peoria listings in the $200,000 to $399,999 range had an average of 13.2 showings per listing, down from 14.7 in November.
The average number of showings per listing in Glendale in the $200,000 to $399,999 range remained at 12.8. Not all showings are scheduled through ShowingTime, so actual numbers are typically higher.
According to Freddie Mac, as of Jan. 13, national mortgage rates reported U.S. weekly averages of 3.45% for a 30-year fi xed, 2.62% for a 15-year fi xed, and 2.57% for a fi ve-year ARM.
According to MLS statistics, 77% of Maricopa County buyers fi nanced their home purchase in December, while the rest paid cash.
Buyers using a conventional mortgage to buy a three-bedroom detached house with two bathrooms paid a minimum of $210,000 in Maricopa County — $305,000 in Glendale and $330,000 in Peoria.
Conventional fi nancing made up 77% of December’s fi nanced sales.
In December, FHA buyers in Maricopa County paid a minimum of $235,000 for a detached home with three bedrooms and two baths.
Peoria FHA buyers paid a minimum of $350,000, and Glendale FHA buyers paid $290,000. FHA buyers made up 8% of fi nanced purchases in December.
Maricopa County VA buyers making a similar purchase paid a minimum of $229,990 — $435,000 in Peoria and $274,000 in Glendale.
SEE BAKER PAGE 13
Heart Beat: Resolve to Be Active In the New Year! By: DR. RAHUL MALHOTRA, MD, FACC, FSCAI PAID ADVERTISEMENT
Getting regular exercise is important – especially if you already have heart disease. Regular physical activity can strengthen your heart and improve blood pressure and lower cholesterol. You may also experience fewer cardiac symptoms with regular exercise and you will lower your risk for heart disease related mortality. To begin or increase your exercise safely, consult with your doctor to discuss your goals and design an exercise plan that works for you.
Start Slowly. Take time to stretch for 5 minutes or more before starting to exercise. Begin slowly, doing light activity, such as walking, three to four times per week and gradually increasing the duration of your exercise. Monitor Your Pulse. Determine your resting heart rate by taking your pulse when you are not active. A normal resting heart rate is between 60-100 beats per minute. Then monitor your pulse during activity. A normal active pulse rate averages between 150-180, depending on age. If you believe your pulse is getting too high, stop and rest.
Pay Attention to Signs of Strain.
If you experience heart related symptoms including: •Lightheadedness or dizziness •Chest Pain •Palpitations •Shortness of breath •Nausea stop exercising and rest. Contact your doctor if your chest pain: •Becomes more severe •Lasts for longer durations •Occurs more frequently •Occurs when you are not active
Regular exercise strengthens your cardiovascular system, improves your circulation, and offers numerous other health benefits. It’s never too late to start an exercise routine — even if you have a history of heart disease. Just work with your doctor to design an exercise plan that matches your fitness level and physical condition, and, begin enjoying the benefits of regular exercise in the New Year!
Dr. Rahul Malhotra, MD, FACC, FSCAI is the Medical Director at Arizona Heart & Vascular Clinic.
BAKER FROM PAGE 12
Home sales fi nanced with VA loans made up only 6% of December’s fi nanced sales.
The remaining fi nanced transactions used other fi nancing methods. For the week ending Dec. 26, 7% of Maricopa County sellers contributed to their buyer’s closing costs — a signifi cant jump from 4% on Nov. 28, and the highest we’ve seen since February 2021.
At the other end of the market, the highest-priced home sale in Maricopa County last month sold in Paradise Valley for $10.75 million. Peoria and Glendale saw their highest-priced home sales last month at $1.1 million.
If your fi nances fi nished the year low, know you are not alone. Homeowners, tenants and landlords should contact the Department of Housing and Urban Development’s housing counseling program at 1-800-569-4287 or visit consumerfi nance.gov/housing for assistance.
Lisa R. Baker is a Realtor and a community volunteer in Glendale. She can be reached at me@LisaRBaker.com.
FEB & MARCH THURSDAY – SATURDAY / 7-9 P.M.
THURSDAY / FEBRUARY 3
DECEMBER 63 A Tribute to Frankie Valli & The Four Seasons
FRIDAY / FEBRUARY 4
MARIACHI PASION All Female Mariachi Band
SATURDAY / FEBRUARY 5 THE SUGAR THIEVES
American Roots & Blues Fine Quality OLIVE OILS & BALSAMICS
Fine Quality Oils & Vinegars olive-gourmet.com
20% off
One bottle
Any Size
Olive Gourmet • Peoria • 623-877-6553
With this coupon. Not valid with other offers or prior purchases. Offer expires 06/30/22
Park West Mall – 9824 W Northern Ave. Ste. 1810, Peoria AZ Call for store hours
Thank you to our wonderful customers for your patience and support during these trying times.
Pete’s Has Been Serving Deep Fried Goodness For Over 74 Years!
Family Owned & Operated Since 1947
20% OFF
Any Order Over $9.00
Expires 2/23/22. With coupon only. Present coupon at time of purchase. May not be combined with any other offer. One coupon per person. Valid at all 8 locations.No cash value. Coupon cannot be reproduced. No digital or photographed coupons accepted.
FREE
Deep Fried Burrito
$2.35 Value
With Any Order Over $9.00
Expires 2/23/22. With coupon only. Present coupon at time
of purchase. May not be combined with any other offer. One coupon per person. Valid at all 8 locations. No cash value. Coupon cannot be reproduced. No digital or photographed coupons accepted. Need a menu? Visit us at petesfishandchips.com
GLENDALE TOLLESON
NEC of 55th Dr. & Glendale
5516 W. Glendale Ave.
SWC of 91st Ave. & Van Buren
9309 W. Van Buren
M-Sat. 10am-10:30pm, Closed Sun. – No Phone Orders –M-Sat. 10am-10:30pm, Closed Sun. – No Phone Orders –
10% OFF
