Mav Realty

October 2013 saw a total of 28 home sales in the Desert Ridge area.  As of this writing there are 111 active listings, This brings the  inventory level to just under 4 months months worth of supply based on the October  sales.   There are currently 42 properties under contract.   Desert Ridge is a wonderful master planned community in Northeast Phoenix.  Desert Ridge is ideally situated close to the junction of the Loop 101 and SR 51 for easy access to all parts of the valley.  Desert Ridge boasts award winning schools, fabulous shopping and dining and wonderful neighborhoods.  For more info on Desert Ridge Homes, check out Desert Ridge or call me at 480-236-7374. Find out about the Desert Ridge Lifestyle now!




Total October sales: 28
Average Price Per foot: $180.81
Sale price as a percentage of list price: 99%
Average sale price: $407,109
Median sale price: $380,500
Average Days on market: 80

This breaks down by type as follows:

Single Family Detached Homes
Sale: 23
Average Price Per foot: $176.65
Sale price as a percentage of list price: 99%
Average sale price: $438,893
Median sale price: $425,000
Average Days on market: 67

Condos and Townhomes:
Total sales : 9
Average Price Per foot: $199.93
Sale price as a percentage of list price: 99%
Average sale price: $260,900
Median sale price: $278,000
Average Days on market:142 

Inventory has increased quite a bit over the last couple months.  The largest increase is in condos and townhomes.  This is not a surprise as many condos in the Desert Ridge area are owned as vacation properties or winter homes.  This it the prime time of the year for vacation and snowbird sales so it is also the time that seller's know they have a larger potential market.  As expected, prices have stabilized.  The increase in inventory will most likely keep it stable in the short term as well.