List price down on single family homes; lots of lots!
Last updated 5/3/2016 at 8:58am
April brought more sales to the valley. Inventory dropped from 111 homes for sale on April 1 to 10 homes for sale on May 1. There are 180 lots for sale, up from 174 last month. There are still ten commercial properties and multifamily home listings. In the case of single family homes, the average listed price is $324,522 down slightly for the second month. Last month’s average listed price was $330,405.
We have seen the average days on the market rise from 164 to 174. This decrease in the average listed price is due to two factors, first homes that have been on the market for some time are finally lowering their asking price and we are seeing an influx of lower priced homes on the market. This is also the time of year when folks are taking their homes off the market for the summer.
In the spotlight this month is 3285 E. Star Dr. Beautifully remodeled this 3 BR/2 BA home sits on 0.86 acres has an enclosed backyard and lap pool. The kitchen features black composite countertops, white cabinets and a green accent back splash,Whirlpool stainless steel convection oven and microwave, induction stove and refrigerator. French doors from the master BR open to the backyard. The master bath is handicap accessible and has a huge walk-in closet. All the windows and doors were replaced with dual pane.
3325 Carillo Road is a 1,395 sq. ft., 3 BR/3 BA home on 1.6 acres with a pool. Described as an artist’s retreat, the home is surrounded by a forest of desert plants and cactus. According to the multiple listing service, there are fourteen homes under contract, up three from last month. Homes under contract range in price from $35,000 for a home at Road Runner Club to $569,000 for a home in Rams Hill.
The average listed price for homes under contract is $206,458 or $135.08 per sq. ft. up from last months $144,923 or $108.08 per sq. ft.
The homes under contract are, Club Circle E #16, 2902 Frying Pan, 1955 Fenoval, 1506 Borica Ct., 3470 Santa Saba, 3015 Double O, 1920 Lazy S, 2848 Foursome Dr., 3421 Carillo Rd., 406 Santa Fe Trail, 3865 Pecos Dr., 2866 Fonts Point, 356 Velite Dr., 383 Verbena Dr., 2929 Country Club, and 447 Catarina Dr., 3346 Roadrunner Dr. 43 have already sold this year, seven of those were in April. The average sales price for homes sold in April was $179,571 or $110.52 versus $361,943 or $146.68 per sq. ft. in March. This number includes homes in mobile home parks.
To see a comprehensive list, see this weeks hard copy issue.