Desert Ridge Market Update Aug 21 2011
August 21 Market Update:
Hi, this is John Cunningham of Coldwell Banker. Welcome to a Desert Ridge Real Estate Market Update, week ending August 21, 2011. This week we had 34 active listings, with an average price per square foot of $158. Of those listings, four were new listings to the market. There were 23 pending contracts. We are especially keen on paying attention to pending contracts; it gives us a little insight into the future. Certainly all of these won’t close, sometimes loans don’t work out or through inspections people decide not to go forward with closing on a home, but with these three pending contracts we should have somewhere close to that number in closings within the next 30 to 60 days.
Next, we see the six homes that closed in this past week. The median price was $278,000, the average price per square foot was $132 per square. The lowest priced home was $146,000, the highest priced home was $475,000.
If you need an analysis of your home, or you would like to find a home, or have a question about anything to do with Desert Ridge Real Estate, you can always email us at info@PhoenixDesertRidge.com. Next week, mark your calendar, come on back, and we will have another update for you for Phoenix Desert Ridge.