Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
December 12, 2013
December 12, 2013

Market continues to be sort of sluggish….while these stats concentrate on single family homes for sales information there are a good number of townhouse/condos for sale in the Multiple Listing Service.  

Currently there are 1,921 active listings classified as townhouse/condo.  They currently are priced from $22,500 all the way up to 4 million.  Quite a spread, right?......that comes out to an average of about $238,000.
Those priced under $100,000 totals 429……some really affordable options out there.
Looking over the last month (November 2013) of SALES for townhouse/condo dwelling there were 490 closings.  Sales ranged from $15,000 all the way up to $850,000.  The average sale price was about $177,000.
Townhouse/Condos can be a great option.
Some items to be mindful of when purchasing these types of dwellings (and you should be asking about) are:  
•    What is the HOA fee? how frequently are they paid? is there more than one?
•    Historically how often do the fees go up?
•    Is there a land lease fee attached to the property?
•    What is included in the HOA fees? Utilities? Community Features?
•    Are there any current assessments attached to the property?
•    Can this property be financed?  This is a BIGGIE, you can check online at: https://entp.hud.gov/idapp/html/condlook.cfm
Keep in mind this is an annual compliance issue of the community being owner/occupied by a certain percentage and while the property may be financeable when you buy….later down the road it possibly may not, which is a consideration for resale
•    What is the HOA budget and is there a good solid reserve
•    This is not a complete list of all the possible issues/questions, but a great start!


Hope you are having a great week!

Here are your weekly Inventory Levels:
 
Supply numbers are based on the number of closings in the previous month, divided into the total number of active listings today.   
This data is for Single Family Detached homes only and does not include Patio Homes, Condos, or Townhouses .
The total number of single family homes on the market in the Arizona Regional Multiple Listing Service is currently 19,517.
A slight increase since last week.    
We are seeing an average supply rate of just over 3 3/4 months.
The current number of pending sales are 5,225.  A decrease since last week.
The current number of pending listings that are “under contract-accepting back-up offers”, are 2,299.  A decrease since last week.
 
           Search #1 – Phoenix (City of Phoenix)
 
•         Total of 3,718 active listings.  Just over a 3 4/5 month supply.   An increase since last week.
           Search #2 – West, Far SW & Far NW Valley
•         Total of 5,423 active listings.  Just over a 4 1/4 month supply.  An increase since last week.

(Cities of: Cordes Lakes, Bumble Bee, Crown King, Wagoner, Yarnell, Date Creek, Constellation, Black Canyon City, Castle Hot Springs, Wickenburg, Aguila, Gladden, Morristown, Circle City, Wittmann, Harquahala, Tonopah, Paloma, Sentinel, Gila Bend, Mobile, Arlington, Hassayampa, Palo Verde, Congress, Peeples Valley, Yarnell, Cleator, Cordes, Glendale, Litchfield Park, Goodyear, Avondale, Tolleson, Cashion, Estrella Mountain Ranch, Laveen, Peoria, Surprise, Sun City, Sun City West, Glendale, El Mirage, Youngtown, New River, Anthem, Buckeye)

Search #3 – Northeast Valley

•         Total of 755 active listings.  A 11 4/5 month supply.  An increase since last week.   

 (Cities of: Rio Verde, Fountain Hills, Sunflower, Camp Creek, Desert Hills, Cave Creek, Carefree, Fort McDowell)

Search #4 – East Valley

•         Total of 4,293 active listings. Just under a 3 3/4 month supply.  A slight decrease since last week.

(Queen Creek, Chandler, Gilbert, Apache Junction, Gold Canyon, Tortilla Flat, Mesa, Tempe, Ahwatukee,Guadalupe, Komatke)

Search #5 – Southeast Valley   

•         Total of 1,281 active listings.  Just under a 6 month supply.  .  A slight increase since last week.

(Arizona City, Eloy, Picacho, Toltec, Arizola, Casa Grande, Randolph, Coolidge, Valley Farms, Florence, Johnson Ranch, Sacaton, Bapchule, Stanfield,
Maricopa, Ak Chin, Santa Cruz)

Search #6 – Scottsdale (Over 1 Million)

•         Total of 668 active listings.  Just over 19 month supply.  A slight decrease since last week.

Search #7 – Scottsdale (Under 1 Million)

•         Total of 1,280 active listings.  A 4 1/2 month supply.  A slight decrease since last week.

Search #8 – Paradise Valley (Over 1 Million)

•         Total of 300 active listings.  A 15 month supply.  An increase since last week.     

 Search #9 –    50K-100K (Single Family Homes)

•         Total of 722 active listings.  Just under a 2 3/4 month supply.  A slight increase since last week.    

 Search #10 –  Under 50K (Single Family Homes)

•         Total of 80 active listings.   Just under a 1 3/4 week supply.   A decrease  since last week.    

If your property is currently listed with a real estate broker or if you are currently working with another real estate agent, please disregard.  
It is not my intention to solicit the offerings of other real estate brokers.  I am happy to work with them and cooperate fully.

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West USA Realty
16150 N Arrowhead Fountain Center Dr. Suite #100 • Peoria, AZ 85382
Mobile: (602) 526-7486 • Fax: (623) 877-5455
Office: (602) 375-3300


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