February 2013 Real Estate Market Report

February 2013 Real Estate Market Report

So what’s up in the real estate world?

2013 is starting off Great for Real Estate

First, more homes were sold in January than any of the past 6 months. Since June of 2012.

We sold our only 3 listings in January and are in negotiations for 2 of our buyers here in McDowell Mountain Ranch.

How many homes are on the market today?

13, 826 Active Single Family Homes up less than 1% from last year
11,754 Pending Single Family Homes down 24% from last year as we have less short sales
4,754 Single Family Homes Closed Escrow
6,263 Homes sold during January again the most since June

Home values have increased.  Hence, the price per square foot has increased.  See these outstanding numbers.

Metro Phoenix +30% @ $101.51
Scottsdale +17% @ $179.3*
McDowell Mountain Ranch +17% @ $204.69*
Tatum and Bell +32% @ $129.99*

What about foreclosures and short sales?

Foreclosure +33% @ $83.43
Short Sales +19% @ $78.22
Traditional +14% @ $112.55

*with these small samples greater variations are expected

What does this mean for home buyers?
Find the right home and buy now, because priced and rates are going up.

What does this mean for home sellers?
It is more important than ever to have an experienced Realtor that knows how to sell your home for the most in this type of market. I have been selling homes for nearly 20 years now and will happily show you how our home launch and relevant marketing will get you the most for your home! Call today (480) 502-7699

Did You Know?
New Home Permits up 65% 2012 = 11,852 vs 7,204 for 2011
63,900 Jobs were created in Arizona up 2.6% in 2012 = 63,900 of those 39,000 were in Phoenix
Unemployment rate for Arizona is 7.9% in 12/2012 vs 9% for 12/2011
Unemployment rate for metro Phoenix is 6.7%
Foreclosure Starts down 40% 12/20012 = 1,721 vs 12/2011 = 2,867
Foreclosure Starts down 74% Compared to Dec 2009 12/20012 = 1,721 vs 12/2009 = 6,646
Lender Owned Sales down 51% 1/2013 = 722 vs 1/2012 = 1,479

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