My crystal ball is too cloudy to see the future, but the fog has lifted off the past. I see it clearly. So here it is, for you to see, too.
With over 8,000 single family homes in Fountain Hills less than 4% of our houses are homes for sale.
There are currently 328 houses for sale in Fountain Hills
.• $100,000-$200,000 7 listed…..1 foreclosure…..5 short sales
• $200,000-$300,000 33 listed….5 foreclosures…9 short sales
• $300,000-$400,000 43 listed….5 foreclosures…5 short sales
• $400,000-$500,000 38 listed….2 foreclosures…3 short sales
• $500,000-$600,000 41 listed….2 foreclosures…4 short sales
• $600,000-$700,000 21 listed….2 foreclosures…5 short sales
• $700,000-$800,000 21 listed….2 foreclosures…1 short sale
• $800,000-$900,000 17 listed….1 foreclosure…0 short sales
• $900,000-$1million 17 listed….1 foreclosure….2 short sales
• $1million-$2million 69 listed….5 foreclosures…6 short sales
• $2million-$3million 22 listed….0 foreclosures…1 short sales
• $3million + 3 listed
To really understand our market we need to examine what price ranges sold and what percentage of the market is selling in each price range.
Here’s the breakdown of what buyers are buying
• $100,000-$200,000 2 sold…..1 foreclosure…..0 short sales
• $200,000-$300,000 7 sold…..2 foreclosures….1 short sale
• $300,000-$400,000 6 sold…..1 foreclosure……1 short sale
• $400,000-$500,000 7 sold……1 foreclosure…..2 short sales
• $500,000-$600,000 4 sold……2 foreclosure…..0 short sales
• $600,000-$700,000 3 sold….. 1 foreclosure…..2 short sales•
$700,000-$1 Million… No sales
• $1M-$2M One (1) Short sale
• $2M-$3M One (1) Short Sale
20% of the houses for sale are distressed; while 50% of the houses selling are distressed.
It is significant to note that the heaviest concentration of sales is in the price range most impacted by the stimulus bill.What will happen when the $8000 first-time buyer tax credit expires November 30th?
From my cloudy crystal ball, I really can’t tell, but I’ll keep you posted.
In the meantime, enjoy our beautiful fall weather.
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