Hi my name is Jeff Cameron with The Cameron Team at Keller Williams Integrity First. This is YOUR premier Real Estate Market Update for McDowell Mountain Ranch. I live here, love it here and know this area like the back of my hand.
I wanted to start out with the basics. where are we on the supply and demand schedule. Currently there are 98 Homes Available for Sale averaging $220.58 per square foot and have been on the market on average for 101 days.
There are 19 Homes AWC which is a pending status, why agents use this is beyond me. It continues to add days on the market and messes up all the statistics. These homes are averaging $165.26 per square foot and 153 days on the market. Probably mostly short sales
There are 21 homes in the Pending status, this one stops the days on market. They average $190.60 per square foot and 95 days on the market.
There were 19 homes to close escrow in January, averaging $189.78 per square foot. There is an error in the video on this number.
Last year 198 homes closed escrow in MMR. So with 98 homes available and 198 selling last year, we have about a 6 month supply of homes listed for sale. That is right where a market is transitioning from a buyer’s market to a balanced market.
The biggest negative is the amount of 40 approx Short Sales and homes in foreclosure 120 approx.
last year’s average price per square foot was about the same ass 2004. And I think that is about where values are, back to the 2004 level.
That’s all I have for you today. Keep tuning in as we keep a finger on the pulse of this market. If you have any questions specifically about your home. Please call me at 480-502-7699.
Also, if you have questions about saving your home from foreclosure or want a referral to get FREE legal advise, give me a call!
have a great day this is Jeff Cameron, your McDowell Mountain Ranch Realtor
480-652-2004