01/20/10

11:23:00 am Breakdown of 2009 Sales 

11:17:22 am 2009 Count of Type Sold 

10:43:33 am 2009 Property Age By Type 

10:41:11 am 2009 Top Agents 

01/17/10

02:45:07 pm Review of Green Valley’s 2009 Residential Real Estate Market 

Summary

There were 813 residential units (Single family, Townhomes, Condos and Patio Homes) sold in 2009 compared with 718 in 2008. The total dollar volume of comparable number of sales was down 11% in 2009. The average sales price decreased from $203,584 in 2008 to $180,309 in 2009. However, the mix of sales moved toward lower priced properties, so the comparison is somewhat misleading.

The number of active listings at the end of each year was up 57% in 2009 (From 1499 in 2008 to 2,356 in 2009). Larger inventories generally result in prolonged time on the market and put pressure on sales price, particularly in the higher price ranges, where the number of qualified buyers is very limited.

Financing choices in 2009 were almost equally split between conventional loans and cash, with 391 loan and 396 cash deals. The breakdown of the remainder was: 59 FHA, 33 VA, 16 Other and 1 Contract for Deed. Including all categories of real estate transactions, 528 were completed in-house against 369 involving co-operating real estate companies.

12/02/09

03:42:10 pm November 2009 Market Report 

Summary:
Sold or Under Contract transactions totaled 132 at an average price of $187,692 and an average time on the market of 149 days. New listings in November totaled 142.

Sold Properties:
During November, 56 properties sold. The average sales price was $154,779 and the average time on the market was 189 days. Cash sales totaled 29; Conventional mortgages financed 19 sales and 8 were FHA loans. Thirty-seven sales were sold outside the listing company and 19 were sold in-house. Single family units accounted for 25 sales, Town homes added 11 sales; Condo sales totaled 6 and Mobile Homes added 3 more.

A total of 3 transactions, 1 sale and 2 placed under contract, were in foreclosure. The average foreclosure sales price was $170,000.

There were also 3 short sales. The average short sale price was $165,333 and the average time on the market was 198 days. All short sales were co-operative between listing and selling brokerages.

Under Contract:
An additional 76 properties were placed under contract in November. Single family contracts numbered 46;Townhome contracts added 20 more; Condo contracts totaled 3; Patio Homes contributed 2 and Mobile Home contracts totaled 3.

Active Listings:
November saw 142 new listings at an average asking price of $241,717. Single family listings totaled 95; Townhomes added another 38 units; Condos, with 9 new listings brought the new listings grand total to 142.

With the new listings included, the active listings total at the end of November to 878. The average asking (list) price for all active listings is $199,975. The average time on market is 165 days. Communities with the most active listings include:
1. Quail Creek (SF) 58
2. Tubac (SF) 58
3. Desert Hills 2 (TH) 32
4. Villas East (Condos) 27
5. Las Campanas (SF) 23

Year-To-Year Comparison:
Comparing November 2009 with November 2008, there was a 6% drop in the number sold this year. The average sales price (for all classes) in 2009 was 21% lower.

11/25/09

11:56:20 am Impact of Short Sales on Average Sales Price 

By mid-November, Year-Over-Year comparisons between 2009 Year-To-Date and the same period for 2008 revealed a 10% drop in average sales price over all classes of residential real estate in the Green Valley MLS database. But that figure is misleading, if the interest is in resale homes. By restricting the data to Single Family, Townhomes, Patio Homes, and Condos, the decline in average sales price drops to 8%. Breaking the data into those properties under $250,000 and those above $251,000 provides further insights.

Below $250,000 the average sales price did drop 8%, but above $251,000 the average only dropped 1%. However, the number of sales decreased 14% in the higher price range. The number of active listings in both price ranges was up, significantly: 51% in the low end (below $250K) and 40% in the high end (above 250K).

To gain a more complete picture, we need to assess the impact of short sales (which are a significant factor in the lower price range). There were 31 short sales in that price range, out of a total of 113 sales. The average of the short sales was $152,990 versus $170,084 average for the entire population. The average price for the undistressed population was $176,546. That results in a drop of only 4.73% from the 2008 average 2008 price of $185,313.

Now you know that 41% of the 2009 decline of average sales price over those of 2008, in the $35,000 to $250,000 price range, is attributed to the impact of short sales. The adjusted drop in average price in 2009 versus 2008 was less than 5%!


Average Sales Price (Including Short Sales: $170,084
Average Price of Short Sales: $152,990
Total Volume (Including Short Sales): $19,219,492
Volume from Short Sales: $4,742,690
Volume from Undistressed Sales: $14,476,802
Total Sales in $35,000-$250,000 Range: 113
Total Short Sales in the Range: 31
Number of Undistressed Sales: 82
Average Price of Undistressed Sales: $176,546
Average 2008 Price in the $365,000-$250,000 Range: $185,313
Adjusted Year Over Year Percentage Decrease: 4.73%

11/11/09

02:31:42 pm Listings Breakdown by Type & Price 

11/10/09

09:44:06 pm Active Listings Distribution By Price 

04:02:20 pm October 2009 Market Report (GV MLS Data) 

Sold Market Analysis
A total of 39 residential properties sold in the month of October. Twenty one were single family. Twelve sales were Town Homes. Condos accounted for 2 sales and Patio Homes added 1 sale. Overall the average sales price was $174,446 and the average Days-On-Market was 137. Financing arrangements broke down: Cash-17; Conventional-15; FHA-5; VA-1; There was one Contract-For-Deed.

The average single family (SF) sales price was $206,202. The highest number of SF sales was centered in the range of $200,000 to $250,000. There were 3 @ $190,000-$195,000; 2 @ $230,000-$235,000 and 2 @ $255,000-$260,000. The balance of sales was pretty evenly distributed below $450,000. No sales above $450,000 were recorded.
Sales leaders by neighborhood were: Quail Creek-3; Tubac-3; Canoa Ranch-2; Desert Creek-2; Desert Meadows-2; Las Campanas-2; Rancho Sahuarita-2; Rio Rico-2 and
Vail had 2. In addition to closed sales, there were 76 sales pending, bringing the October total under contract to 115. Average sales price for the 76 pending sales was $180,378. The average time on the market for pending sales was 119 days.

Active Listings Analysis
At the end of October, there were 850 active residential listings. Single Family listings totaled 503. Town Homes added 228 active listings. Active Condos totaled 54. Mobile listings totaled 26, Patio Homes added 12 and there were 3 other active listings. The average price of active listings was $251,716 and the average time on the market was 175 days.

Active listings were highest (in number and price) in Tubac with 54 @ an average price of $632,407; Quail Creek had 48 @ an average of $364,628; Rio Rico had 26 @ averaging $208,583; Country Club Vistas had 20 ($182,965) and Las Campanas had 19 ($255,605).