Bob Madison, Home Buyer in Desert Center, CA

have the carefree, arizona residential sales prices dropped or gained from 2009-2010?

Asked by Bob Madison, Desert Center, CA Wed Oct 13, 2010

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Jon Hegreness’ answer
Median home price might be a little better way to estimate local home values. Although the average price has gone down ever so slightly in Cave Creek Arizona over the past 12 months the Median price increased a huge percentage of 1%. :) Compare this to Maricopa County Arizona where the Median Price dropped 4% this year.
0 votes Thank Flag Link Wed Oct 13, 2010
Bob, from the MLS stats:

Last Year = Jan-Oct 12, 2009, This Year= Jan-Oct 12, 2010 to compare same time periods

Total Active: Last Year-92 This Year-65 (down 29%)
Number Sold: Last Year-56 This Year-70 (up 25%)
Sold Volume: Last Year-$43,153,400 This Year-$51,949,820 (up 20%)
Average Sales Price: Last Year-$770,596 This Year-$742,140 (down 3%)
Percent of List Price: Last Year-90% This Year-93% (up 3%)

Hope this helps!
1 vote Thank Flag Link Wed Oct 13, 2010
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0 votes Thank Flag Link Wed Oct 13, 2010
The short answer is yes.

Depending on how you measure they have dropped from 4% measured by median price to 20% measured by price per square foot: year to year data.

Still, unlike other parts of the valley, long term appreciation is still positive. Of course this is all generally speaking.

Certain price ranges and short sales, vs. normal vs. reo properties perform on their own trends.
0 votes Thank Flag Link Wed Oct 13, 2010
While I don't have access to the armls that realtors use, I do know that the asking price on homes in desert mountain and other golf communites are under pressure from the lack of people buying 2nd and 3rd homes, as well as the number of bank owned properties.
0 votes Thank Flag Link Wed Oct 13, 2010
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