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Phoenix Residential Market Report ~ September 2016








The current real time market profile shows there were approximately 9,938 new listings (up 606 listings from last month) on the market in September 2016 and 7,442 sold transactions. The overall inventory of homes on the market is down -16.4% in September 2016 as compared to the number of home on the marker in August 2014. The current number of home on the market is equivalent to houses on the market in September 2015 but due to the greater demand this year the low inventory of homes on the market may cause prices to appreciate at a faster rate. There is currently 21,738 listing on the market and 7,442 sold transactions which equates to 2.7 months of inventory at the market. Historically, 2.9 months of inventory on the market which is the lowest the Phoenix market has seen June 2013.

In July 2016 the average sold price took a steep dive south as well as the number of sold transactions. The month of September the average sold price increased approximately +2.4% to $282,128 and is approximately back to the average price in June 2016 at $282,879. Historically, as we enter the winter holiday season the number of sold transaction decrease but since 2014 the average sold price increased. In 2014, the average sold price increased +5.3% from September to December and in 2015 the average sold price increased +3.6%. Since October 2015 (12 months ago), the average sold price has increased approximately +7.2% (up from last month), the average days on market have is unchanged (down from last month) and the number of sold transactions have increased approximately +17.4% (down from last month).

The volume of foreclosure purchases since October 2015 (12 months ago) has decreased approximately -17.9% and the volume of short sales decreased of approximately -25.8%. Since August 2013 the number of foreclosures have decreased -211.7% indicating a healthy market. Also, since August 2013 the volume of short sales have decreased -479.7% because the inventory of homes “up-side-down” have been exhausted and values have risen to a point where consumers can break-even or sell with some equity but some homeowners are still up-side-down if they purchased their homes between 2005 and 2007.

Since October 2015 (12 months ago), the number of homes for sale on the market have decreased approximately -8.5% or 21,754 homes for sale on the market to a gradual decrease of 21,738 homes. The total number of listings is low as compared to 26,076 listings in August 2014. This decrease in the number of homes for sale indicates we are currently in a seller’s market (low supply and increased demand).

Real estate prices are still relatively low (near 2008 prices), mortgage rates are still at a historical low and the macroeconomic market is improving both in terms of prices and the overall economy. Give us a call to discuss your best buying or selling strategy, TODAY!!

Position Realty
Office: 480-213-5251

Fireside At Norterra ~ View All Homes For Sale

Fireside at Norterra is tucked on the side of the expansive Sonoran Preserve is a beautiful community offering enriching lifestyle amenities for all residents. Billed as the #1 Master Planned Community in Arizona by Ranking Arizona Magazine in 2011, it is not hard to figure out why.

Beginning with a superb location in the bustling, ever expanding North Phoenix, only minutes to 1-17 and North Gateway Corporate Center, a major employment center, as well as Loop 101 for access into Scottsdale or Glendale/Peoria, the reasons get even better.

Get involved with your fellow residents and make lasting friendships at the 16,000 sq. ft. clubhouse in the heart of the community. This state of the art facility houses a resort pool with beach entry, a lap pool, fitness center, saunas, an adult only spa, club rooms, classes, a rock climbing wall, child care, and is overseen by a full time Lifestyle Director, who is always busy putting together classes and events for the residents.

For some, the biggest draw is being next to the awe inspiring Sonoran Preserve, with 14 miles of trails leading out from behind the community center….more trails to come as well. The 20,000 acre preserve is the newest in the city, and is larger than South Mountain preserve.

Position Realty
Office: 480-213-5251

Desert Ridge Homes For Sale ~ View All Homes For Sale

The Desert Ridge master-planned community comprises 5,700 acres and is situated in the Northeast Valley of Phoenix, Arizona. As one of Arizona’s largest master-planned communities, Desert Ridge could contain more than 50,000 residents. The community includes CityNorth, Toscana of Desert Ridge, Desert Ridge Marketplace, JW Marriott Desert Ridge Resort & Spa, Mayo Clinic Hospital and American Express regional campus.

The master planned community contains nearly 4,000 residential homes, Mayo Clinic’s 210-acre Phoenix campus that includes Mayo Clinic Hospital and Mayo Clinic Specialty Building; Desert Ridge Marketplace, a 1,200,000-square-foot retail, dining and entertainment center; Toscana of Desert Ridge Condo community, and JW Marriott Desert Ridge Resort & Spa, which includes Wildfire Golf Club with 36 holes of championship golf, a day spa, restaurants and bars, expansive pool grounds.

Desert Ridge is part of the Paradise Valley Unified School District. The community is home to 4 schools ranging from kindergarten to 12th grade, which include Desert Trails Elementary School, Explorer Middle School, Paradise Valley High School and Pinnacle High School. Pinnacle High School ranked among Newsweek’s top 1300 schools in America during the 2007 school year.

Position Realty
Office: 480-213-5251

View All Homes For Sale In Marley Park

Marley Park is a residential development in Surprise, Arizona and the development occupies 950 acres. Marley Park offers residents a variety of amenities, including a centrally located 45-acre public-use education and recreation parks complex that includes: Heritage Park, Marley Park Elementary School, as well as The Heritage Club, a series of unique neighborhood parks, the Arbor Walk, a community intranet and a neighborhood marketplace. Additional amenities include a 1,600-seat open-air amphitheater, lighted baseball and soccer fields, community rose garden, adventure play areas and community pool.

Position Realty
Office: 480-213-5251

Search All Tramonto Homes For Sale Today

Tramonto is a residential master-planned community located in north Phoenix, just East of I-17 on Carefree Highway. Within walking distance of many of the home sites there is a 100,000 sq. ft shopping center with grocery, banking, various retail, and dining options.

All homeowners have access to two recreation centers situated in two community parks: Tramonto East and Tramonto West. Each park contains a playground, a pool ( one offers a heated pool and spa) Both parks feature sand volley ball courts, tennis courts and a full basketball court. There are wide open grassy areas for soccer or catch. A unique feature of this community is that a full 1/3 of the area is dedicated to open space, much of it natural desert with ample walking paths and hiking trails connecting the various neighborhoods.

Tramonto is serviced by Deer Valley Unified School District and houses Sunset Ridge K-8 elementary within the neighborhood. High School students attend the nearby Boulder Creek High School.

A variety of builders within the master plan provide many housing options to choose from. From lock and leave townhome living, to the Estates at Tramonto, a gated custom home neighborhood. Many of the homes are very upgraded and yet very affordable making it a very desirable community to live in.

Give us a call today!

Position Realty
Office: 480-213-5251