Market Report for San Tan Valley 85140 December 2012
January 29, 2013
The Market Report for San Tan Valley 85140 December 2012 reveals a number of interesting statistics regarding the local real estate market. The 85140 zip code includes neighborhoods such as Pecan Creek and Ironwood Crossing.
The local market insight tells us that the number of new listings in December 2012 dropped by 26.7% from November 2012, from 101 new listings down to only 74. The number of new contracts was also down by 8.6% from 81 in November, down to 74 in December. The number of closed sales rose 63.1% from November, from 65 closings to 106 closings in December. The great news is that the median sold price continues to increase and was up to $130,000 in December, up 3.2% from November 2012 and up 42.5% from December of 2011. Our market is still moving in an upward positive direction overall!
The number of active listings for the Market Report for San Tan Valley 85140 December 2012 was 216. The average days on the market (DOM) was 69 days which was about the same as November’s average of 68 days. Another piece of exciting news is that the average percentage of homes that sold over their listing price remained high at 97.9%! Almost every single home that sold actually sold above list price! The market is competitive and buyers are still willing to offer above listing price in many cases to ensure their offer is accepted.
If you are thinking about selling your home, it is a great time to list. Homes are still selling quickly due to the low inventory on the market, especially in Queen Creek and San Tan Valley AZ Homes for Sale, and there are still more buyers than sellers. Mortgage rates continue to remain low, so it is still a great time for qualified buyers to jump into the real estate market again. Please feel free to contact Karen Berg at 602.919.2375 with any questions related to the current real estate market, or buying or selling a home! Real estate is my passion! I hope you have found the information helpful in this Market Report for San Tan Valley 85140 December 2012.
We’re looking forward to hearing from you soon!