October 2014 Real Estate Market Report

 October 2014 Real Estate Market Report

Hi its Jeff Cameron from Home Smart and The Cameron Team. Can you believe it is October! Time for baseball playoffs! Well, it really means Football! Root for the Cardinals this weekend in Denver taking on Payton Manning and the Broncos! Come on Upset!

Before we get to the numbers. We have a Beautiful 4 Bed 5 Bath Santa Barbara Custom home back on the market, priced at $1.3 million.  It is located on over an Acre and Beautifully updated.  Click the picture for an exclusive aerial video tour.

Let’s see what happened last month…

Active Homes in the ARMLS
Metro  homes for sale 19,423. +19% since last year and +1% since last month
Scottsdale homes for sale 1,905. +19% since last year and +3% since last month
McDowell Mountain Ranch homes for sale 58. +53% since last year and -11% since last month.

Pending Homes in the ARMLS
Metro  pending homes 7,070. -13% since last year and -5% since last month
Scottsdale pending homes 446. -8% since last year and -9% since last month
McDowell Mountain Ranch  pending homes 22. +22% since last year and +38% since last month

Closed Homes in the ARMLS
Metro closed homes 5,263. -1% since last year and -3% since last month
Scottsdale closed homes 353. +1% since last year and -2% since last month
McDowell Mountain Ranch closed homes 12. -29% since last year and -57% since last month

SOLD Homes in the ARMLS
Metro closed homes 4,894. +12% since last year and -6% since last month

New Listings Homes in the ARMLS
Metro closed homes 5,103. -17% since last year and +10% since last month

Price Per Square Foot
Metro $124 +7% since last year and +2% since last month
Scottsdale $208 +5% since last year and +3% since last month
McDowell Mountain Ranch $250 +6% since last year and +10% since last month

We have seen seasonal drops in sales and listings, which is normal for this time of year. The biggest think I see is for the overall market we are 13 months into the slow down. Thus inventory is only up 19% and sales for September were stronger than a year ago. September closings in 2013 were the first real slow down after a market on fire. Buyers are so tuned in, that when it slowed the brakes were slammed.

As the numbers soften compared to last year, fear should be diminished by buyers. And they will begin to re-enter the market.

We have sold out of listings except the Custom Santa Barbara I mentioned earlier, but we are experiencing buyers coming out of the wood works. I expect to sell as many homes to buyers in this 4^th quarter as I have all year so far.

Over the past couple months I have been helping out as an assistant, assistant assistant coach for my  son’s pop Warner team, Scottsdale Shockers. During that time I have not been out networking as normal. So, do me a favor please. If you know anyone looking to buy or sell a home, please call/text/email me their info and we will help them out.

*BONUS* more information from other recent articles. Click each link for more information.

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