Feature: Real Estate

With this writing, the housing inventory in ARMLS is up 122 properties which brings us up to 13,860.  Although we have more inventory than last year when it was teetering around 5000, we still are only about 55% of what would be considered a more normal market.  In the 85331 and 85377 zip codes since the past issue, we have had 34 closed sales with our medium sold price being $820,000 and the average price being $1,010,083.  The average sold price to asking was 3% which feels like a real normal spread.

Overall, there isn’t much to speak of in foreclosure activity. With low inventory, most people who are struggling with payments still have equity and can easily sell their properties. 

Data collected form the ARMLS from Cromford since the beginning of April is as follows:
Here are the basics – the ARMLS numbers for April 1, 2023 compared with April 1, 2022 for all areas & types:
– Active Listings (excluding UCB & CCBS): 13,933 versus 5,051 last year – up 176% – but down 5.5% from 14,739 last month
– Active Listings (including UCB & CCBS): 17,937 versus 8,663 last year – up 98% – but down 4.3% compared with 17,937 last month
– Pending Listings: 5,701 versus 8,008 last year – down 29% – and down 3.6% from 5,911 last month
– Under Contract Listings (including Pending, CCBS & UCB): 8,935 versus 11,620 last year – down 23% – and down 1.9% from 9,109 last month
– Monthly Sales: 7,540 versus 10,141 last year – down 25% – but up 32% from 5,706 last month
– Monthly Average Sales Price per Sq. Ft.: $277.60 versus $290.80 last year – down 4.5% – but up 2.4% from $271.08 last month
– Monthly Median Sales Price: $419,900 versus $456,000 last year – down 7.9% – but up 1.7% from $413,000 last month

Call Kendal, 303-549-8224, Ryan, 480-240-2619, Or Janet at 602-980-7653 for all your Real Estate needs!  We have decades of experience!