The lease expensive home available is a bank owned Brezza model listed at $420,900.  This Brezza is a 3 bedroom and 3 bath, 2 story home.  Brezza’s have a 2 car garage.  There is a den downstairs that could be coverted to a 4th bedroom.

There 27 homes under contract at this time. The lowest list price among the homes that are under contract is another Brezza.  It is a short sale that finally went under contract.  List price at time of contract was $389,900.

So far in May there have been 7 homes that have closed.  Average price per square foot for these 7 closed listings is $145/sf.  Average days on market for those 7 homes was 71 days.

In April there were 10 homes sold with an average price per square foot of  $139/sf and average days on market for those 10 homes was 96 days.

In March there were 4 homes that closed.  Average cost per square foot for those 4 homes was $132/sf and average days on market was 100 days.

So, we are seeing inventory shrinking, an increase in monthly homes closings, average cost per square foot increasing and days on mark decreasing – all great indicators that we are in a recovery.

If you would like more information about any of the available or sold properties, please do not hesitate to cal or drop me an email.

Currently there are 47 active listings in Aviano at Desert Ridge.  Here is how those 47 active break down:

• 26 Listings are Normal Sellers
• Average price per sq. foot is $208.92
• Average Days on Market is 137 with a high of 420

• 4 Listings are Bank Owned Properties
  
• Average price per sq. foot is $146.65
• Average Days on Market is 84 with a high of199

• 17 Listings are Short Sales
• Average price per sq. foot is $157.10
• Average Days on Market is 175 with a high of 668

From this information it is clear that the bank owned properties are setting the price trend.  Of course it is important to note that many of those bank owned properties could have been distressed, but it is still driving the pricing.

Since November 1st, 2008 there have been 5 sales.  Of those 5 sales, 3 were short sales, 1 was a bank owned property and 1 was a normal seller.  Here are the 5 sales since 11/1/08:  (click to enlarge)

From this image, you can see that short sales do close – if buyer can be patient.  The normal seller was actually the best deal as far as cost per square foot at $136.00 per square foot.  As you can see a motivated seller can come in all forms!

If you can have questions about any of these properties that closed or want information about any active listings, give me a call at 480-201-4185 or click here to contact me.

~Kim

Ready To Sell You Your Slice Of The Arizona Sunshine!