Laveen Real Estate Market Update 2016

BY David Baker

Real Estate Agent with HomeSmart Realty

Weekly Laveen Real Estate market updates and Insight, read on below.

Why do people live here? 

Laveen Az  is a rural feel community where modern living meets a rural lifestyle, with close commutes to Central Phoenix.  Laveen Az is among the perfect choices there are in the Metro Phoenix area for an abode.  Laveen offers a variety of different style homes including horse property, santa fe, gated communities, custom homes on acreage, and all with great mountain views.  While laveen Az offers a very rural feel, all modern amenities are close by with easy access to grocery stores, drug stores, high way access and local area malls.  Outdoor enthusiast also can enjoy the 16000 plus acres of mountain preserve offered by South Mountain.  Laveen Az offers a little something for everyone.

 

Looking for a home in Laveen Az?

Click here for the most current list of homes for sale in Laveen Az.

 

What’s Laveen Az like?

Laveen Az has several different style communities that make up this Phoenix suburb.  Originally Laveen Az had been mostly an agricultural and dairy area, as is still evident by some of the area dairies and plenty of open acreage that is farmed.  With that in mind you still have some older homes in the area which were originally housing for workers to the land in the area.  As the area began developing many farmers  sold off their land and eventually gave growth to new home subdivisions.  There are several new home subdivisions in the Laveen Az area, with the majority being built 2000 -2008.  There are also several 1 acre custom home sites that were built along the southern edges of laveen Az and as well as around 51st ave/Dobbins as well as 67th ave and Baseline.  So you have open farm land, horse properties on acreage, some older homes in pockets, and also several newer home subdivisions.

If your considering selling, I would recommend a home evaluation by a professional realtor.  While the numbers here given are information, they also use all homes in the Laveen Real estate area, and it is best to use similar homes when deciding on home value.

May, 2016

Here are the numbers below for the month ending April 2016.

159 active homes for sale

163 homes under contract

79 homes sold in Laveen for month of April 2016

$98.41 was average $/sq ft

$203,410 was average sale price

64 was average days on market for homes sold

This is a seller market here in Laveen.  Yet, beware, while this looks at the entire zip code, you may want to look closer depending on your home, condition and price range.

December 2015

Course, this is now January and I’ll be looking back at how the year ended.  Over all we had a pretty stable 2015 year, one that did see some appreciation.  The appreciation was that of about 5% for the year.  Though we did see less listings at end of year, surprisingly the number of sales was higher than normal.  Due to the less inventory, and the higher sales, we are technically still experiencing a seller market now.  Why?  Well because we have less than 3 months absorption/inventory.

171 properties for sale

101 homes currently under contract for sale

86 homes sold in the last 30 days

1.98 months of absorption/inventory

$96.89 was average sales price a square foot for those homes sold

$209,556 sold average for the last 30 days

74 was average time to sell those homes

Again, homes are selling if they are priced right.  While we did experience a little of a seller market at the end, this is to me a surprise.  See, the number of active homes had been climbing, and number of sales declining.  Except, we had a unusually high number of sales in December.  So there it it.

Good time to sell?  Sure.  If you need to talk about your options for selling or buying in 2016 please give me a call.

 

November 16, 2015

Number of active listings has gone down a smidgen, but only because a bunch of homes went under contract.  Chances are, many of these homes were priced right and likely were under $250,000.  Why, well those are the ones that are selling quicker, again if priced RIGHT.

176 active properties for sale

135 properties currently under contract

60 homes sold in Laveen last 30 days

$97.77 was the average $/sq ft for homes sold

$203,148 was the average sale price

49 was the average days on market

Second week in a row, we are maintaining under 3 months of turnover.  This is technically a seller market, but as some sellers out there are seeing some homes are not getting a lot of views.  Who’s homes are not showing?  Likely those that are distressed homes, as this makes up less than 8% of the market.  Not many buyers are willing to wait for a short sale approval.  That being said, I have 2 that are just at about approval and they did get visits.  Why, because of INTENSE marketing and good pricing strategy.

Homes are selling, but need to be well marketed and priced.

December 2015November 9th, 2015

Decrease of active homes on market, and consistent sales keep the Laveen market moving along steady.  Not really much change, homes are selling, values are consistent.  Values for Laveen home been consistent at mid $90’s a square foot since June 2015.

182 active properties for sale

134 properties currently under contract

61 homes sold in last 30 days

$95.87 average $/sq foot for homes sold last 30 days

$202,507 was average sale price

53 was the average days on market for those homes that sold