November 2012 Real Estate Market Report Metro Phoenix, Scottsdale and McDowell Mountain Ranch

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Real Estate Market Report for Metro Phoenix, Scottsdale and McDowell Mountain Ranch for November 2012

Hi my name is Jeff Cameron and I am coming to you Live in McDowell Mountain Ranch in Beautiful Scottsdale Arizona. As you can see it is November 1^st and the weather is beautiful.

Our Best Wishes to those struggling with the Massive Storm on the East Coast. Remember you can always escape here to Scottsdale.

Next Tuesday is the Election, this is your chance to voice your opinion. Please use it and VOTE.

Today I want to Review the Huge increase in inventory of single family homes, the Real Estate Market in Phoenix, Scottsdale and McDowell Mountain Ranch; review a couple of awesome homes for sale and tell you more about our Home Launch Program.

First, the Annual Fall Festival at Desert Canyon Elementary School is Friday. The Cameron Team is donating 6 computers to the school this fall fest and you have the power to make it 7 computers.

How? Just like our Fan Page: Live in McDowell Mountain Ranch. Our goal is 100 new likes. Please like it and ask your friends to like it. It does nothing but good for the school and our children.

Let’s talk about the numbers.

First, the average price per square foot rose 5% to $97.69 valley wide.

Available single family homes for sale in metro Phoenix jumped 38.5% from June to 13,498 homes for sale.

We closed escrow on 5,985 single family homes a jump of 7.8% from last month.

There were 5,310 new sales in the month up 6.7% over last month.

There were 6,430 new listings, up 8.1% from last month. The increase in Available the difference of the new listings and new sales. It was 1,120 last month.

In Scottsdale, the average price per square foot rose 5.6% last month to $174.35

At the same time, Available homes for sale increased 19.3% to 1,485

Here in McDowell Mountain Ranch, prices dropped 1.2% to $196.27 per square foot and available homes for sale increased 90%, but only to 38.

What does this mean?

How can inventory rise nearly 40% and the market not change? Merely because inventory was so low, we can handle this rise. This is only a bit over a 2 month supply of today’s sales. We normally sell 8-10 thousand homes per month in the spring, so we can handle a larger build in inventory.

Is your neighborhood up or down?

These are overall numbers, to find out about your neighborhood call me and let’s review. Because some neighborhoods rose, some dropped and some stayed the same. We need to take a close look.

How are averages up?

This is all about product mix. There just aren’t as many lower priced homes going on the market. The entry level homes had flooded the foreclosure and short sale market. We have burned through most of that inventory.

I truly believe we shall continue to see prices of single family homes rise for the next couple of years here in metro Phoenix, Scottsdale and McDowell Mountain Ranch.

In this email you can watch videos of a couple of our newest listings.

1. 10270 E. Bahia Drive in Scottsdale. This home is located in Eagle Ridge of McDowell Mountain Ranch and offers 5 beds 3.5 baths mountain views pool rock water fall slide and both interior and exterior fireplaces. Priced at $540,000 it is a great value take the video tour below.
2. 4601 E. Desert Cove in Phoenix. This home offers 4 bedrooms, 2.5 baths, pool, remodeled kitchen and is 1.1 acres of horse property. It has 2 garages and 3 horse stalls. There is so much potential as one garage could be converted to a guest house or office. Watch the video.

Last, we have sold 10 homes in the last 3 months with our Premiere Home Launch Program. It really works to yield the highest and best price for your home. Watch the video and give me a call to review.

Thanks for tuning in. Please like or share this video!

Have a wonderful weekend!

Don’t forget you could be the difference in raising another computer so Like our Face book Fan Page Live in McDowell Mountain Ranch.

This is Jeff Cameron, The Cameron Team Live in McDowell Mountain Ranch

Thanks!