Desert RIdge Real Estate Stats for March. 2014
March 2014 saw a total of 43 home sales in the Desert Ridge area. As of this writing there are 148 active listings, This brings the inventory level to 3.44 months worth of supply based on the March sales. There are currently 47 properties under contract. Desert Ridge is a wonderful master planned community in Northeast Phoenix. Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley. Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods. For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge
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Total January sales: 47
Average Price Per foot: $180.43
Sale price as a percentage of list price: 98%
Average sale price: $417,000
Median sale price: $345,000
Average Days on market: 96
This breaks down by type as follows:
Single Family Detached Homes
Sale: 33
Average Price Per foot: $178.47
Sale price as a percentage of list price: 98%
Average sale price: $458,076
Median sale price: $400,000
Average Days on market: 79
Condos and Townhomes:
Total sales : 10
Average Price Per foot: $186.88
Sale price as a percentage of list price: 98%
Average sale price: $281,450
Median sale price: $247,500
Average Days on market:153
As expected, March showed a significant positive swing in the overall market. Closed sales more than doubled from February and price per foot increased by 1%. The average and median sales prices increased by 17% and15% respectively. This reflects the mix of homes sold more than the more stable price per foot. The 1% gain, while modest, was expected and nothing to complain about. If we see 1% every month, homeowners should be very happy.
Adam Tarr PC
Citywide Real Estate
Phoenix AZ