July Market Conditions for Fountain Hills, Arizona

It seems that things have slowed down (just a bit) for the summer. Short Sales and Foreclosures continue to make up a large part of our sales and there are only 30 bank owned properties left in Fountain Hills. You can now easily search Foreclosed properties on my website at www.ISellFountainHillsAZ.com. As of July 1st, there are currently 564 homes for sale in Fountain Hills. This is down again from last month. There are 332 single family homes and the rest are condo's, patio homes, etc. The average price is $711,374. There are 90 homes currently in escrow with an average price of $442,340. The average days on the market were 211. There were 75 homes that sold/closed escrow in June. That means the title companies and home inspectors are busy again! If you are looking for an entry level home in Fountain Hills be prepared to make your best offer since you are likely to encounter multiple offers and bidding wars. It's all about supply and demand, and finally we are seeing a reduction in the supply. Overall, with prices down, interest rates low and a huge selection of available homes, it's a great time to buy!