FIRST QUARTER MARKET REPORT-2013Glendale Average Sales Price

At the start of the new year, we have experienced some dips and spikes in the average price/SF but don’t fret. The average price per square foot in Arrowhead tends to fluctuate monthly. January was lower than December, but if you compare it to a year ago, February 2012 at $87.80 compared to last month $109.37. That is a 24.5% year over year increase. But…this can be misleading. Here’s why.

Monthly sales values do not have enough volume to be used as trend lines, which is why the number goes up and down…especially now with inventory at an all time low. If you track monthly sales, you know that in the majority of the last ten years,  Jan/Feb has the  least amount of sales in a month due to the holidays being the least likely time of year to buy.  Also we run into the greater problem with averages; they are good to help show the direction the market is moving, but they do not help price your specific home. This is where market expertise comes into play. We are proud that the last 47 homes we have sold we told the owner within 2.5% what their house would sell for. Compare that to Zillow’s median error of 11% for this area.

If you are thinking about selling, call my direct line: 602-329-7782. We’ll have a CMA on your doorstep within 48 hours.

**NOTE: Even though inventory is low we are still seeing a high demand of buyers in the Arrowhead Ranch area. On a short sale listing I had under contract, I had just received 5 calls from agents within 1 week, hoping it was going to come back on the market so they could show their clients. It is rare that we get calls from agents for homes under contract.  That just shows you how low inventory is and how many buyers are out there looking for homes in Arrowhead Ranch. If you are thinkig about selling your home, now is the start of the selling/buying season