Current Market Conditions

It's a GREAT time to be a Buyer! The prices are down to about what they were in 2003-2004 and the selection has never been better. It was officially announced in the Arizona Republic that Phoenix was at the top of declining home prices with a 30.7% drop in the last year. Ouch!! However, homes in Fountain Hills are only down about 15%. About 60% of home sales have been Short Sales or Foreclosures and that continues to drive the prices down. As of December 1st, there are currently 839 homes for sale in Fountain Hills with 522 of those being single family homes. The average price is $752,713. There are 52 homes currently in escrow with an average price of $654,259. The average days on the market were 173. Sellers be patient! There were only 28 homes that sold/closed escrow in November with an average sales price of $401,329. That's a pretty low number of closings. I think we should see things pick-up a bit now that the election is over. Overall, with prices down and interest rates dropping, it's a great time to buy! Call me today at 602.400.0250 or toll free at 888.311.4833!!