A weekly article looking at Laveen home values.
Why do people live here?
While the weekly article will focus on Laveen home values, would like to start with what is Laveen. 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.
December 26, 2016
Last entry for the year!
150 active homes for sale
121 homes under contract
79 homes sold last 30 days
1.89 months current inventory
$227,820 was average sale price
$107.71 was average $/sq ft
63 was average days on market
Commentary – We will end the year with being in a seller market. Home values have increased in Laveen over the 2016 calendar year. The year has seen a total of 949 home sales, and we may get to near 1000 by the end of year.
2017 will likely see a continued seller market, with values holding steady. Should interest rates change and move up, we could see a little slow down or change in the current low inventory.
December 19th, 2016
Below is current market statistics:
162 properties currently for sale in Laveen Az
128 properties currently under contract
78 properties sold in last 30 days
2.07 is current inventory level
$107.46 is average $/sq foot for homes sold
$218,884 was average sale price
67 was average days on market for home sold
Commentary – Well, the year has been a seller market. It appears we will end the year the same way. Also, while the fed did increase the interest rates, it will likely not affect mortgage rates on purchase until march 0f 2017 at earliest. So, this will likely still keep buyers buying, and hopefully taking advantage of these historically low interest rates.
Values still are holding steady in the Laveen real estate market. Will that be the case in the year to come? Time will tell, but I would guess that values are likely to remain stable, and we likely will also remain in a seller market through out the end of summer 2017. Especially in the lower price ranges.
December 11th, 2016
163 active listings – no change
130 properties under contract
75 properties sold in last 30 days
2.17 Months current inventory – sellers Market
$107.38 was average $/sq foot for homes sold
$216,884 was average sale price
71 was average time to sell
Commentary – Well, homes are still selling, and many within a reasonable amount of time. As seen above, on average homes are selling in about 71 days, but this is taking the 85339 zip code into consideration as a whole. Some homes may take little less, some longer. Truth is my average is about 40 days start to finish, so again it depends. Laveen is still in a seller market, with low inventory. Home values have risen a bit over the last year, and are finishing strong. We have not, and in my opinion will not see huge double digit gains like we did in the pre-2007 years. Yet, Laveen real estate looks stable, and values as such are holding as well.
December 5th 2016
163 homes currently for sale
133 homes currently under contract
79 homes sold last 30 days
2.06 months current inventory
$108.43 was average $/sq ft
$209,018 was average sale price
70 was average time to sell
897 sales year to date
Commentary – Not much change folks. Homes are still selling, and those priced well, much quicker than others.
November 28th, 2016
160 properties active and for sale in Laveen
143 properties currently under contract
72 homes sold last 30 days
2.2 months current inventory
$108.86 average $/sq foot for homes sold
$218,444 was average home sale price
64 was average days to sell
871 – number of homes sold to date in Laveen Az
Commentary – Not much change folks. Homes are still selling, but really just ones that are priced at market value. Interestingly the average list price a square foot is $115.63, which is almost $7 more a square foot than the average for solds. Will those sell? Chances are they will not, as the average list to sale ratio is .99%, which indicates homes are not on average getting their ask price. So if over priced, chances are they will have to lower, and then still, possibly not get asking price.
The disclosure on this though, is that the stats are based on the entire zip code. If thinking of selling, use information based on your home, not the entire zip. This will give you a better idea of value, time to sell …………etc.
November 21st, 2016
171 active properties – down a bit
146 properties under contract
66 sold in last 30 days
$109.09 was average $/sq ft for homes sold
$221,566 was the average sale price
59 was average days on market
2.59 is current market inventory
Commentary – Well, things do appear to be slowing a bit. We have a few less active listings (though some went under contract), our number of sales per 30 days has gone down (seasonal), so our inventory has grown a bit as far as turn over. It is still a seller market, and good time to sell. Do homes sell during holidays? Yessir, they do. Buyers still must buy at times, and the time now is good. Interest rates are still at historic lows, and while inventory is not huge, there is still choices.
November 14th, 2016
181 properties for sale at this time
138 properties under contract
76 properties sold last 30 days
2.38 current market inventory
$109.47 was average $/sq ft
$225,882 was average sale price
837 properties sold year to date
Commentary – Sales have slowed a bit, but still a seller market with low inventory.
November 7, 2016
182 properties for sale
138 properties under contract
81 homes sold last 30 days
2.24 months of inventory
$109.58 was average $/sq ft for homes sold
$229,785 was average sale price for area
56 was average days on market
821 homes sold to date
Commentary – Not much change. We are starting to see a little slow down of the market, mostly due to seasonal changes I would imagine. Beyond that, active property, those under contract, sales and values are holding steady.
October 31st, 2016
Happy halloween Laveen Az!! Here are this weeks numbers:
168 properties currently for sale
141 properties under contract
87 homes sold last 30 days
1.93 is current market inventory
$106.16 was average $/sq ft for homes sold
$227,559 was average sale price
55 was average days on market
807 homes sold to date
Commentary – Again, not much to report. Values continue stable, market over all is stable. We continue with under 3 months inventory and in a seller market. Values have gone up a bit throughout the year, but at a slow and somewhat steady rate. I’ve read some journals that predict interest rates may go up, and if so……………could mean market may slow up bit. If that should happen, all else being the same, inventory would grow and it may tip toward a buyer market. Time will tell.
October 24th 2016
Here are the weekly numbers:
166 homes on the market
128 homes under contract
97 homes sold last 30 days
1.71 current months inventory
$106.29 was average dollar $/sq ft
$227,875 was average sale price
64 was average days on market
Commentary – Not really much to add, things continue as they have been. It is a seller market, especially at the lower price ranges.
October 17th, 2016
175 properties currently for sale
131 homes under contract
94 properties sold in last 30 days
1.86 months of current inventory
$107.62 was average dollar/sq ft for homes sold
$228,395 was average sale price
64 was the average days on market for those homes that sold
Commentary – Again, not much change for the past week, or even for the last several months. It is a seller market, and values have gone up over the last year.
October 10th, 2016
169 properties available and on the market
132 properties under contract
88 properties sold last 30 days
1.92 current months inventory
$105.82 is $/sq ft average for homes sold
$225,640 was average sale price
751 homes sold year to date in Laveen
Commentary – Not much change folks. Seller market with homes selling within a short period of time for lower price ranges.
October 3rd, 2016
171 active homes for sale
127 homes under contract
76 sold last 30 days
2.25 months inventory
$104.18 was average $/sq ft for homes sold
$228,719 was average sale price
We are starting to go into the holidays, and as such may see a slight change in the market. That being said, sellers always will ask if the holidays is a good time to sell? In my mind, yes, here in Laveen any time can be a good time to sell, as we don’t have seasonal limitations to showing homes. We see homes sell during halloween, thanksgiving and Christmas all the time. Key question is though, do you need to sell. If you do, then put it on market, and there are buyers.
September 26, 2016
166 active homes for sale
141 homes under contract
82 homes sold last 30 days
2.02 months inventory
$106.59 average $/sq ft for homes sold
$218,632 was average sale price
While I’m no lender, I can also share that interest rates are also holding steady, so over all this is a great time to buy as well. Is it the best time to buy? No, that really could have been about early 2012, but if you did not buy then, you missed the lowest prices. Yet………….Home prices are affordable, and interest rates are still at historic lows. It is still a seller market in Laveen, though this week we see an increase in active listings, as well as decrease in homes under contract. What could happen should that trend continue? Well, if we go over 3 months, we could see buyers having more choices, and this would then be a buyer market. Some price ranges at this time, and horse property, are experiencing that already.
September 19th, 2016
157 Properties currently on market for sale
152 properties currently under contract
84 homes sold in last 30 days
72 was average time to sell homes
1.86 is current market inventory – seller market
$106.25 was average $/sq ft for homes sold
$221,378 was average sale price
Again, I’ve looked back on my excel statistics sheet, and really the market in Laveen has been real steady. Yes, we have seen some appreciation, but it has not been some insane increase in values over a short time. Housing continues to be affordable, interest rates are still very low (historically), and there are options for homes to purchase. While inventory is low, mostly in lower price ranges, the opportunity for home ownership is great.
September 12, 2016
Here are the current numbers:
162 properties currently the market
159 properties currently under contract
86 properties sold last 30 days
1.88 months current inventory
$107.52 was average $/sq ft for homes sold
$217,170 was the average sale price
63 was average days on market
Not much change, not much to report. Things are stable, and continue pretty much the same they have been going for some time this year.
September 6, 2016
Hope all had a great labor day weekend. I did, went and spent some time with family and friends floating down the river, super fun. Here are the numbers for Laveen real estate:
149 properties for sale – this is down if you notice from last weeks post
166 properties under contract
98 properties closed successfully last 30 days
1.52 is current months inventory
$106.82 was average dollar a square foot for homes sold
60 was average days on market – this is up too
$215,129 was average sale price
What is interesting to me, is that we are about 30 units (give or take) below last years active properties at this time. We are also, about 30 units above last years closings for about the same time period. Actually, going on how many were selling at this time, we are selling 20 to 30 more units on a monthly basis. If this were not the case, our inventory would indeed be larger, and we may very well be in a buyer market……….but that is not the case. Homes are selling relatively quickly, and we have lower levels of inventory, and our market is a seller market. So, in short it continues to be a great time to sell. Values still holding steady, with some appreciation.
August 29th, 2016
167 properties for sale
161 properties under contract
97 sold last 30 days
1.72 months of inventory
$105.04 average dollar a square foot for homes that sold
$213,103 was average sale price
45 was average days to sell
Not much change in Laveen Arizona real estate. This really has been the case for the year so far, so I would call it stable. We have seen the average dollar a square foot only vary a bit, since the start of the year. It has appreciated, but nothing significant, or at least nothing that will make a major difference to the average sale price now vs. the start of year. Will this trend continue? No one has a crystal ball, but I would think that things will continue as they are for the current time, and likely the year will end the way it started.
August 22nd, 2016
172 homes for sale
153 properties under contract
96 properties sold last 30 days
$103.91 was average dollar a square foot for homes sold
$220,133 was average sale price
1.79 is current absorption rate
45 was average days on market for homes that sold
Again, really not much change in the Laveen real estate market. Values are holding steady, and inventory levels still remain in a seller market.
August 15th, 2016
177 homes on the market for sale – same as last week
150 properties under contract – same as last week
106 properties closed last 30 days – wow 3 for 3 same
$101.93 was the average $/sq foot
$216,044 was average sale price
44 was the time on market for homes sold
Not much to say folks, the market is stable at this point.
August 8th, 2016
177 properties for sale in Laveen today
150 properties under contract
106 properties sold last 30 days
$99.94 was average $/sq foot
$215,331 was average sale price
50 was average days on market
Today marks the start of school for the Laveen area, and based on the numbers it is still a great time to sell. It is a seller market.
August 1, 2016
Stable market in Laveen, for the last several posts. Lets look at what the real estate activity is today:
181 properties for sale in Laveen
152 properties under contract
95 properties sold last 30 days
1.9 months inventory in Laveen – little higher than South Phoenix
$100.18 was average $/sq ft for sold homes
$216,126 was average sale price
60 was average days on market
Not too much change really, the market is very stable. Many of the purchase are being done with financing, and as such have appraisals, so they must be priced right or they will NOT get financing. Many are going FHA and as many know, those fha appraisals do carry a shelf life, so price it right the first time and market it wisely and aggresively.
July 25th 2016
Can you so, no change. Yes folks, my fellow Laveen residents, real estate is currently very steady. Really, it is kind of boring to describe, but I’m sure it is way better for most than what we experienced 2008/2013, right? Here are the numbers this week:
167 active properties for sale
161 properties under contract
99 homes sold last 30 days
1.68 months inventory – no change!
$100.26 was average for homes sold $/sq ft
$216,241 was average sale price
63 was average days on market for sold homes
There it is, homes are indeed still selling. I would say, we are still in a sellers market, which is great for sellers. Yet, unlike other seller markets, homes are NOT selling for above market value, and often we are seeing many homes sell a little under list price. (2% to 5% if you look at last 12 months average for mls). Homes under $200,000 are selling faster, those over, well not as fast.
July 18th, 2016
Here goes the latest and greatest for the week in numbers.
172 active homes for sale
159 homes under contract
102 properties sold last 30 days
1.68 is current months of inventory
$100.82 was average $/sq ft for homes sold
$210,793 was average sale price
There it is. Homes are indeed selling if priced at market value, and most of those usually under contract within a short time. Those over priced, well they sit on the market until price comes down. We do still have a lower inventory, and that is one of reasons homes are selling faster.
July 5th , 2016
Happy 4th, hope all had a great holiday.
180 active homes for sale
157 homes under contract
84 homes sold last 30 days
2.14 current months of inventory
65 was average days to sell
$100.75 was average price/square foot
$216,731 was average sales price for homes last 30 days
It is still a good time to sell, especially for the homes under $200,000. Those are the ones that are selling the quickest at this time. Those above $300,000 are indeed taking a little more time, actually for Laveen, those over that price are experiencing a buyers market. This is one of the reasons I find using a Laveen realtor is key to helping you sell a home, knowledge. See it is not only knowing homes value, but also what is going on in the market, and trends for the market. Knowledge is power as they say, and power of knowledge in this game can help you keep more of your money.
June 27th 2016
179 properties for sale
162 homes under contract
98 homes sold last 30 days
$102.06 was average sale price/square foot
$211,244 was average sale price
57 was average days on market for homes sold
It is always interesting as a realtor who specializes in the South Phoenix/Laveen area, to see so many listings priced incorrectly. This can be clearly seen when one looks at the average list price per square foot, which is currently $115.33. That is about $13 a square foot difference from the average sold price, which when you look at average square footage size in area is at least $15,000 to $20,000 overpriced on some properties. With most homes being sold being purchased with financing, homes that are over priced will not sell nor will they appraise. This must really be kept in mind when looking to sell. If not, you could waste precious time, effort and cost, with the end being a home which did not get the value needed in the appraisal.
June 20th, 2016
177 homes actively on market – this is up a bit
161 homes under contract
102 homes sold in last 30 days
1.73 months of inventory/absorption
$216,276 was average sale price
$101.91 was the average $/sq ft for homes sold
Summer is here, and if you step out side you will feel it. We are in the summer sales months as well, when the market heats up a bit (by that I mean more sales) as you can see we sold 102 in last 30 days, which is a good bit for little ol’Laveen. Values are holding steady, and those homes priced under $200,000 are selling fast. That said, I have seen a couple of listings that are over priced, well…………even if under $200,000 it won’t sell if over priced. On average homes in Laveen going back a year have sold on average 2-5% under original list price. Those that have had price drops, still sold for less than their last list price. So know the market, know your competition, know your homes value in laveen.
June 13th, 2016
158 active homes for sale
173 homes under contract
98 homes sold last 30 days
1.61 months inventory
$101.12 Average dollar a square foot for homes sold
76 average days on market for homes sold
As you can see above, homes are indeed selling. Laveen saw 98 homes sold within the last 30 days, and all within a relatively short period of time. Looks like at least homes sold in last 30 days are also on average selling for 1% under list price, so many home owners are getting pretty close to ask price.
Jump to June 7th, 2016
Back from a short vacation, so that is the reason I missed a couple of log entries here. So lets jump right in and see what has been going on with Laveen home values:
165 active homes for sale – no real change
162 homes currently under contract
100 homes closed last 30 days
1.65 months inventory
$101.67 average dollar a square foot – homes sold
$211,823 was average sales price
74 was average days to sell
Not really much change in the Laveen real estate home values over the last couple weeks. Inventory/turnover is still favoring sellers at this point, especially in the lower price points for the area. Now I do say lower price point, what I really mean is homes under $200,000 are selling pretty darn fast, followed by homes under $250,000. Once you go over a certain price point the inventory does change, so if your looking to sell………………………make sure you study and learn the market so you can be sure to use a appropriate marketing strategy.
May 23rd, 2016
163 homes for sale
163 under contract
93 closed in last 30 days
1.75 months of inventory
$100.43 was average $/sq ft
$209,042 was average sale price
Things continue steady. Nothing major appears to be happening, it continues as business as usual. Good time to sell, as we are in a seller market.
May 16th 2016
167 active properties for sale
167 properties under contract too!
77 closed homes in last 30 days
2.16 absorption rate/market inventory
$101.16 average dollar a square foot
$203,637 was the average sale price
Inventory level went up a slight bit, but the market still favors sellers. Mostly at the lower price ranges, once you go over $250,000 that starts to change. If you have specific questions, please don’t hesitate call so I can answer.
May 9th, 2016
165 properties for sale
170 properties under contract
77 closed properties sold in last 30 days
$99.85 was average $/sq ft for those sales
$204,535 was average sales price
69 was average sales price
Sellers market.
May 2nd, 2016
160 properties for sale
161 properties under contract
76 properties sold last 30 days
2.1 months inventory/absorption
$98.09 was average $/sq fot
$203,928 was average sale price
64 was average days on market
Folks, the market currently still favors sellers. We still have a pretty steady supply of active homes, as well as pretty steady number of closings. You will notice a quicker turn time on home sales at the lower price ranges, generally for Laveen under $200,000 sells pretty fast. Homes over $200,000 can take a little longer to sell. Also, homes must really be priced well, if not they will tend to just sit.
April 18th, 2016
152 Active homes for sale
159 homes under contract
89 homes sold in last 30 days
1.7 months inventory – wow, they are moving
$101..42 was average dollar a square foot for homes sold
$210,918 was the average sale price
67 was average days on market
Homes are indeed selling. Big difference I see is in the different price ranges. Homes under 200K are selling the fastest………..if priced right. Then those under $250,000. Homes over $250,000 are really like the custom or high end for our area. Those homes actually have about a 4.47 month inventory, which favors buyers!! I keep saying know your market, know your competition and know your home value.
April 11, 2016
Sorry folks, missed a week there some how.
151 active laveen properties for sale
158 homes under contract
79 homes sold last 30 days
1.9 months inventory
$102.81 is average $/sq ft for homes sold
$206,547 was average sale price
59 was average days on market for homes sold
I’ve seen some reports that indicate a continual rise in home values. Well, I would say it is some what true, as home values have been going up slightly, but look at average sale price March 28 vs todays’ which is less. Does that show values going up? Thing is, with statistics it really only can give an over all idea, and to me the local market is stable. We have seen a year over year increase in values, and this is good. Interest rates are still low, so home buyers can get into a home for good prices and have a good interest rate. The low inventory, shown with 1.9 months, is some thing that currently favors sellers. With low inventory, buyers have less choice and must compete with other buyers for the fewer homes. Yet, take this with a degree of caution, this is based on the ENTIRE laveen zip code. If you were to look closer, you may find that it does NOT benefit the seller but the buyer. So in essence while this information is good and gives a good over all idea of the market, do also look at things more in depth when either buying or selling.
March 28, 2016
156 active properties for sale
164 properties currently under contract
69 homes sold in Laveen last 30 days
2.26 months of absorption/inventory at this time
$102.04 was average $/sq foot for homes sold
$211,390 was average sale price
55 was average days on market
I am, a broken record. Really their is not much new at all to report. The market has been very steady for the last several months, with only a little variation in the inventory and turn over category. Laveen is seeing very stable prices and a pretty healthy real estate environment.
March 14, 2016
158 active properties
157 properties under contract
65 properties sold in last 30 days
$99.71 was the average price per square foot for homes sold
$213,351 was average sales price
73 was the average days on market
While I did not include it above, I’ll do so now, the average list price per square foot is $110.62. While it does not seem like much, consider a home that is 2500 square feet and is priced $10 over the current market value, that is about $25,000 over. Now, of course this is averages, and one really needs to look closely at a home that is similar to subject to really help determine value. Yet, for looking at a zip code like Laveen, one can see the pattern. Also active days on market is 86, which is over the average days on market for homes that sold. Again, points to the fact that homes that are over priced are not selling. At the very least, they are not selling until the drop to a price that is in line with market value.
March 7 2016
150 active homes for sale
139 homes under contract
68 homes sold last 30 days
2.2 months absorption/market inventory
$99,19 was average $/sq ft for homes sold
$218,772 was average sale price
Homes as usual, are selling. Homes that are selling are priced at market value, and those not………..well don’t sell. Notice how homes that sold, did so on average within 68 days. Yet the average days on market for active homes for sale is 118 days. Not sure why, but for some reason some think that pricing a home over market will just mean people will haggle you down. Not so much here in Phoenix, here if over priced, chances are good people are not even looking at home.
March 1, 2016
141 active properties for sale
142 properties under contract
51 homes sold in month of February
$99.38 was average price/square foot for home sold
$214,273 was the average sale price
2.76 is the absorption rate/months inventory
In some price ranges it is more a seller market, but over all right at this moment Laveen is in a seller market. This in theory does benefit the home seller, as there are fewer active properties which are competing directly with home owners home. With less competition, home owner has a little stronger bargaining position. Not shown above, but offered now is the ms figure of 96%. This is the average percentage BELOW original list price homes on selling for, on average. Those homes who have price reductions, also are selling below, and those homes are still averaging about 2% below last listed price when it sells. Take away? Well, make sure to do a thorough review of values and market trends to price it right. Homes are NOT selling for more than they are worth. Especially since almost 98% of homes are being paid with financing, in other words home WILL be appraised.
February 22, 2016
150 active properties for sale
151 properties under contract
45 homes sold last 30 days
3.33 months inventory or absorption rate
$194,965 was average sale price
$95.50 was the average $/sq ft
So, what is happening? Well it appears we do have a few more homes on market vs. a couple weeks ago. Also, many that are coming on market and are priced right are going under contract. Notice we have less active listings, AND more under contract. We have picked up a bit and we are looking to start seeing an increase in sales in the coming month. Values are stable, and have been for some time.
February 15, 2016
158 Homes for sale currently in laveen
142 homes under contract
42 sold in last 30 days
$95 was average dollar a square foot for homes sold
$188,336 was average sale price
65 was average days on market
3.7 is the absorption rate or months inventory
Market still favoring the buyer just a bit in the Laveen area at this time. Yet, if you really look close, it also will depend on the price range as well. If considering selling your home, make sure to request a valuation showing recent sales similar to your home.
February 8th, 2016
163 homes for sale
128 homes under contract
41 homes sold last 30 days
3.97 months of absorption/inventory
$99.82 was average $/sq ft for homes sold
76 was average days on market for homes sold
Good time to sell in Laveen? Sure, we have homes selling every month. If inventory does continue to grow though, we may see that buyers will have more choices, and as such sellers will be competing for the buyers. How can a seller be sure to get the buyer? Well, it comes down to good marketing, heavy internet exposure, social media marketing, and very important make sure home looking good.
February 1st, 2016
Number of active listings down a bit, number of closings down a bit, absorption rate goes up a bit. That is pretty much the summary. We came off a really hot holiday, when we had summer like closings, and now it appears to have normalized a bit. See generally during holiday season, Laveen see’s about 42 to 55 closings a month, not the high 90+ we saw in December. Still not sure why the spike, could have been many short sales closing, or folks buying because of the Fed rate hike. Over all though, values are still holding strong, homes are selling.
155 active homes for sale
119 homes under contract
43 homes sold last 30 days
$100.23 was average $/sq ft for homes sold
74 was average days on market
3.6 is current absorption rate, or market inventory.
January 25th, 2016
159 active property – just a small increase
122 properties under contract – slight increase
51 properties sold last 30 days – much less than before right?
$210,586 was average sale price last 30 days
$104.55 was average sale price a square foot
3.11 is the absorption rate/months inventory
63 was average days on market for homes sold
Absorption/months inventory has gone up a bit compared to last month. This really, in my opinion, should have been up anyway but we saw a unusual high number of closings in December. That had an effect the inventory levels, and now it appears we are going back to a little more normal number of closings. Why the spike in number of sales, who can ever say, but it may have been the fear of rising interest rates. Maybe a rush to close before the new year.
Bottom line, is it a good time to sell? Sure, homes are selling, and there are good qualified buyers in the area. Interest rates are still low, and buyers will be wanting to take full advantage of that fact.
January 19th, 2016
157 active properties for sale
118 properties under contract
63 homes sold last 30 days
$102.32 was average $/square foot for homes sold
$213,780 was average sale price
70 was average days on market for homes sold
2.49 absorption
Absorption has gone up a bit for single family homes, should this continue, buyers will likely start reaping the benefits. Interestingly, number of active listings has gone down, though many more have gone under contract. Market is moving along, and homes are indeed selling. Values hold pretty steady, as do interest rates. Still a great time to buy a home in Laveen, and also to sell, as the market does favor sellers a bit.
January 11th, 2016
Today’s update for Laveen home values.
171 properties for sale – no change vs. last week
104 homes currently under contract
81 homes sold last 30 days
2.11 absorption rate, slight increase
$98.33 was average sale price/square foot
$209,887 was the average sale price
81 was average days to sell for homes that did sell
Summary – Well not much change, thought we did see slight dip in number of closings. December was VERY high sales, un usually so. While valley saw a good size increase in homes on market, that was not the case with Laveen so far in 2016. Values continue steady. Good time to sell? Sure. Buyers are buying, and interest rates are good, so great time to buy.
January 4th 2016
Welcome to the new year. Well, for us that live here in the South valley and Laveen, the real estate market finished strong, and so far appears to be starting so as well. The Laveen real estate market saw a uncharacteristacally high number of closings to end the year. In 2013 we had only 69, in 2014 we had 59 and this year we saw a jump up to 86 closings. To clarify, this is the number of closings we saw at the time of writing my first article for the year, and looking back over 30 days of sales. Based on what I have seen and reviewed, the Laveen area is really moving compared to other areas of the valley. Good time to sell? Sure, it is as good as any. The real question is always, do you need or want to sell. If yes, then look to make sure the market will get you what is needed or expected from the sale.
171 active properties for sale in Laveen
101 homes currently under contract
86 homes sold last 30 days
1.98 is the absorption rate, or months inventory
$96.89 is the average sale price/square foot for those home sold last 30 days
$209,556 was the average sale price
74 days on market was average to sell.
December 28th, 2015
Number of active listings has not really changed much, but what has is the number of closings. We saw an increase in the last week of closings, with a total of 79 properties closed in the Laveen area. This does skew the numbers a bit, because it is high for this time of year. Looking into where these higher number of closings came from one discovers that there had been a large quantity of homes under contract, and that several of those finally closed. As an example, my neighbor was under contract for over 2 months, and they finally closed. Also, I happened to have recently closed 2 short sales in area which had been under contract for some time. It is these sales that are likely the reason for increased sales.
174 Properties currently for sale in Laveen Az
124 Properties currently under contract
79 properties sold last 30 days
$214,114 was the average sale price
71 was average days on market for homes sold
2.2 is the absorption rate/market inventory. (this again is kinda skewed because of higher closings with long escrows)
Have any questions about buying or selling in Laveen? Call me David at 602.373.6345
December 21st, 2015
Not really much to report as we start winding down the year. We are steady, as steady can be.
176 properties currently for sale
132 properties currently under contract
67 homes sold last 30 days
2.62 months of inventory/absorption rate
$210,235 was the average sale price
Some things to note. First, we did see several homes that had been under contract close, which increased number of closing to almost 70 in the last 30 days, which is higher than several weeks past. This is likely due to some short sales and other distress sales, finally closing. The turnover/inventory does show under 3 months which would suggest a seller market, but I would caution and just let you know that really is not likely the case. We are likely a little over 3 months and will show that in the weeks coming.
So, is this a good time to sell. Sure, homes are still selling. Also, interest rates are still good even though the fed increased rates. This will not have a direct affect on loan interest rates, but it likely will in the long run. Good time to sell, and yes, good time to buy.
December 15th, 2015
Since August really, the Laveen home values per square foot have been very steady, within 2 dollars up or down. Looks like we will finish out the year much like we started which is to say pretty stable. Homes are indeed still selling, but homes do need to be marketed correctly. How can this been seen in the numbers? I don’t generally share all information, because really it would be major overkill on an on going article like this, but currently the active average days on market is 90 days. The average for sold properties is 60 days. Homes that are priced well are selling, those that are not, well those stay on the market longer. Sellers who are willing to see, and listen to what the market is telling them will then have price drops to get to market value. If they do, chances are home may sell, if they don’t, it will just sit. As an example, one home 642 days on market.
174 properties currently for sale in Laveen Az
145 homes currently under contract
58 homes sold in Laveen last 30 days
$96.15 was average $/sq ft
60 was average days on market
December 7th, 2015
Well, some good news Laveen area residents. Chances are your home did appreciate a little this year. While I know that some of the experts out there will give you an exact figure, that is really hard to do and is based on a quick time stamp look at something. It really changes day to day, week to week. We have seen an increase in Laveen give or take of about $8 a square foot. I would not run off and base value on that finding however, as homes really are better given a value by comparing to similar recent closings. Here are this weeks numbers:
173 homes currently for sale
146 homes currently under contract
54 homes sold in last 30 days in Laveen Az
3.2 Months of absorption/market inventory
$97.34 average $/sq ft for homes sold last 30 days
$204,390 was the average sale price
55 was average days on market for those homes that are selling
Over all we are seeing that 2015 has been a pretty stable year. Values have increased, though not in a huge or dramatic way. I would describe our appreciation as a slow, steady and likely sustainable increase in home values. Time will tell if that stability continues. We are expecting increase in interest ways, and along with some stricter guidelines being followed on the loan side of the industry, could we see a slow down? Time will tell.
November 30th, 2015
What is going on now in laveen real estate? Well lets just look at the numbers and see what they say:
169 current properties for sale
169 single family homes for sale in Laveen Az
156 Homes in Laveen currently under contract
55 homes sold in Laveen last 30 days
3.07 months of absorption/inventory
$97.46 average $/sq ft. for homes sold last 30 days
49 was average days on market
Homes in laveen az are selling. There are many that are indeed priced well, and as you can see with average sale days on market, those homes are selling fast. We are still seeing homes sell for a little under list price on average, about 2%.