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N.B. Andrews & Associates
I am not a gambler - but if I were - I would push in all my chips and bet that it is going to go up! All indicators are showing that our market is running out of inventory and the demand is greater than ever. Here are some interesting statistics
Active Listings (excluding AWC): 13,403 versus 20,196 last year - down 34%
Monthly Average Sales Price per Sq. Ft.: $98.54 versus $79.86 last year - up 23%
Monthly Median Sales Price: $145,000 versus $109,000 last year - up 33%
Greater Phoenix Bank Foreclosure sales dropped below 14% of the monthly total on August 3, 2012, the first time this has occurred since January 4, 2008. At their peak on February 11, 2009, they constituted 71.1% of monthly sales. Although it will take some time for them to disappear completely, Foreclosures are no longer a major factor in the market. Contrary to to the popular myth, there are not a lot of foreclosed homes in lenders' possession, so we don't expect this the foreclosure supply to increase.
We are heading back to Sellers market and when that happens, prices increase. Now is the time to buy in Carefree. I would be happy to email you a list of available properties - just ask!
Send me an e mail and I'll get the analysis to you for market statistics.