Coldwell Banker Residential Brokerage in Arizona announced the expansion of its operations with the addition of 120 independent sales associates from ZipRealty, Inc.’s offices in Phoenix. This local growth comes as a result of the acquisition of ZipRealty’s national operations by Realogy Holdings Corp. (NYSE: RLGY), Coldwell Banker Residential Brokerage’s ultimate parent company.
A recent (letter to the editor) from a Mohave County Supervisor, Hilda Angius, was published here (“Think twice before voting for Dial,” AFN, Aug. 10). Angius correctly stated that Jeff Dial had sponsored a bill that was to relieve tax liability for a group of land owners in Mohave County. What was not stated was that this bill, unanimously approved by both sides of the aisle in both the Legislature and Senate, signed by the governor, approved by the legislative attorneys gave this relief to 30-plus land owners who had been in a 23-year court battle with the federal government over ownership of this property. The county attorney’s office had given permission for these owners to not pay the property taxes during this litigation. Unfortunately, the attorney general’s office and a liberal federal judge found the bill needed more clarity to make it meet the muster of the Arizona constitution.
Increasing inventory, more competition and a smaller buyer pool. That continues to sum up the market. According to the Arizona Regional MLS, July property sales in the 85044, 85045 and 85048 ZIP codes were 137 sales, down 17.5 percent from 166 in July 2013 and 1.5 percent higher than the June sales of 135. July 2014 sales numbers were lower than July of 2013 and 2012. July’s year-to-date (YTD) sales of 868 down 19.2 percent behind last year’s YTD sales of 1074.
More inventory, more competition, smaller buyer pool. That sums up April’s market. According to the Arizona Regional MLS, April property sales in the 85044, 85045 and 85048 ZIP codes were down by 150 sales or -12.8 percent from 172 in April of 2013 and 68.5 percent higher than the March sales of 89. April 2014 sales were lower than April of 2013 and 2012. April’s Year-to-Date (YTD) sales of 349 are 33.3 percent behind last year’s YTD sales of 523.
The W.P. Carey School of Business’ February housing report reveals that new home sales are showing the largest percentage price increase in all three measures over the last year for the greater Phoenix area.
Things have been changing in ZIP codes 85044, 85045 and 85048. We’ve gone from a Seller’s Market trending to a Buyer’s Market and now stabilizing into a more “normal” market. The number of property sales for the last two months have been consistent. Sales price per square foot remained stable for four months, dipping slightly in October. I emphasize “slightly” as you will see from the numbers.
The trend is changing in ZIP codes 85044, 85045 and 85048. What was a strong sellers’ market, is becoming a “normal” market for both buyers and sellers. Properties are not flying off the shelf in a matter of hours. There are fewer multiple offers on them, so they are typically not selling for more than full price. Why are we seeing a change? There are many factors that enter into the equation.
The July numbers continue to show improvement in ZIP codes 85044, 85045 and 85048. July property sales totaled 169, down 3 percent from last month but up 16.6 percent over July of 2012. The median sales price in July was $291,000, up 16.4 percent over the prior year. Currently the medium list price is $345,000, which is down 1 percent over last month and up 30 percent over prior year same month (PYM). July 2013’s average sales price was $320,350, up 2.7 percent over last month and up 23.1 percent over PYM. July 2013 sales were at their highest level compared to July of 2012 and 2011. More properties are closing escrow and July’s YTD sales of 1,079 are 12 percent ahead of last year’s year-to-date of 963 sales.
The news continues to be good with our market trending upward. Combining the three area ZIP codes of 85044, 85045 and 85048, June property sales totaled 174, down 13 percent from last month but up 30 percent over June of 2012. The Median Sales Price in June was $263,900, up 9 percent over the prior year. Currently, the medium list price is $349,900, which is up 4 percent over last month and 31 percent over prior year same month (PYM). June 2013’s average sales price was $311,835, even with last month and up 14 percent over PYM. June 2013 sales were at their highest level compared to June of 2012 and 2011. June YTD sales of 910 are 11.2 percent ahead of last year’s year-to-date of 818 sales.
Combining the three area ZIP codes of 85044, 85045 and 85048, April property sales totaled 172, up 8.9 percent from 158 in April of 2012 and 25.5 percent higher than the 137 sales last month. The Median Sales Price in April was $249,500, up 31.3 percent from $190,000 in April of 2012 and up .6 percent from last month. April 2013’s average sales price was at its highest level compared to 2012 and 2013.
It’s all good in Ahwatukee! The supply of homes coming onto the market has not caught up with the demand for housing in our community. This is pushing up the price of homes. In ZIP codes 85044, 85045 and 85048, the median sales price in January was $216,750, up 19.8 percent from $181,000 in January of 2012. The average sales price in January was $255,614, up 17.4 percent from $217,718 in January of 2012 and up 6.6 percent from $239,813 last month. January 2013 was the highest level compared to January of 2012 and 2011.
The Thunder look to return to their winning ways behind a talented junior class and a group of committed seniors in 2014.Produced by David JolkovskiNarration by Jason P. SkodaInterviews (in order of appearance):Cade van RaaphorstTJ RobertsAlex FarinaDrew McIntyreCoach Dan HindsAdrian PerezAndrew MacnairSaxon McDonald