If you didn’t catch the recent real estate numbers out of the Realty Studies at Arizona State University’s Polytechnic Campus, I’ll summarize them briefly.
Total number of sales are up in the Ahwatukee Foothills area compared to a year ago; 125 sales this year over 120 last April. But, the average sales price did decrease (about 15%) to $325,000.
As a comparison, Chandler and Tempe had marginal price increases (and I do mean marginal – Chandler about $3k and Tempe $10k) but lowered total number of sales. Gilbert was hit with the double whammie of decreased total sales and decreased sales price.
Over the past couple of weeks the market has started to pick up. Between now and the time school starts you’re going to see more homes moving off the market. Despite the summer heat it’s actually a great time to sell! Keep in mind though, you’ve got to price your house right from the start. You need to look at it objectively (sometimes tough to do) and evaluate its upgrades or lack of thereof, location and other important factors as compared to similar homes sold in the past six months as well as your competition. Pricing it too high from the start will undoubtedly lead to longer market time.