How has Phoenix Real Estate started in 2013?

Dobson Ranch WaterfrontPhoenix Area Real Estate Review

The Phoenix area real estate market was good to home owners in 2012.  It was the first year of appreciation since 2005. Buyers frequently found themselves frustrated by the competion for homes  especially those under $200K where there is an abundance of first time home buyers and investor demand.  After a robust year in 2012, how is 2013 shaping up?

What has changed since a year ago?

As part of the healing process in the real estate market, the number of short sales and foreclosures continue to decrease.   Distressed Sales by City April 2013The graph to the left shows the percentage of sales of short sales /pre-foreclosures and lender owned/foreclosures by city.   Compared to a year ago, there has been significant improvement.  If you were to look at the same graph from a year ago, each city has experienced a reduction in distressed sales. For example, Gilbert went from 45% distressed sales to 21%!  Glendale saw a change from 54% to 31%. Mesa went from 46%  to 29%. Chandler saw distress sales fall from  51% to 28%.  Scottsdale fell from 25% to 12%.  Every city in  the Phoenix area saw a decrease in short sale and lender owned properties. To appreciate where we are,  you only need to look back  to 2011 when the distressed sales were over 60% of total sales in most Phoenix area cities.

Foreclosure graph by typeThe reduction in distressed properties, especially lender owned/foreclosures/REO properties can be demonstrated in the active listings over time.  To the  right is a graph for the last 2.5 years  of foreclosure inventory in varying stages for the Phoenix area.  Pending foreclosures represent  properties that have received a notice of trustee sale which may become foreclosures, short sales, or remedied through loan modifications.  The reduction has been significant.  When you look at Unlisted Foreclosures, please repeat – No Shadow Inventory!. Arizona is a non-judicial foreclosure state, but that is another blog.

Right Now Its All About Inventory or the lack of

The combination of record low interest rates and buyer awareness that prices are rebounding has created a real estate demand that cannot be satisfied by the Gilbert Months Supply 2013 Maycurrent supply.  The result is low inventory and multiple offers on many properties as they come on the market.  One way to compare supply and demand is to measure the supply in terms of months of supply.  Most cities are experiencing low months of inventory supply similar to the graph to the left for Gilbert, a popular east valley city.  The months of supply for Gilbert has not been this low since 2005.

Gilbert Homes for Sale

If you would like to receive listings of homes  for sale in any city, go to Send Active Listings.

What does this mean for prices?

Phoenix Avg. Sales Price April 2013Low inventory and strong demand translates into rising prices.  To the right is a graph for over the last 2 years for the city of Phoenix which contains a diverse cross section of real estate.  The appreciation that took hold in 2012 has continued in 2013.  Real  estate price appreciation can vary between cities  and even between neighborhoods. If you would like to know the average sales price/sq.ft. trend for your city, please e-mail me your city and I’ll forward it to you. If you would like to know the value of your home, click on What’s the Value of My Home.

What will the rest of 2013 bring?  One long running favorable trend is the decrease in distressed sales which appears will continue for the rest of the year.  And everyone has benefited from low interest rates.  These historically low rates have motivated buyers to lock in lower mortgage payments compared to years past. At the beginning of the year, I estimated that real estate would appreciate 8 – 12%. Right now I believe that we’ll end up at the higher end of that range.  Your thoughts?

Related Posts

Over-Priced Fannie Mae Foreclosures and Short Sales

Phoenix Area Distressed Sales 2012  compared to 2011

Who Really Loses on  a Foreclosure? The Bank – Think Again

A Look Back to Real Estate for 2012

Chandler Homes  for Sale

$725,000 :: 1389 E CANYON Way, Chandler AZ, 85249

5 beds, 3.5 baths
Home size: 4,461 sq ft
Lot Size: 11,762 sq ft
Added: 01/17/21, Last Updated: 01/17/21
Property Type: Single Family
MLS Number: 6181886
Community: SYMPHONY 2
Tract: SYMPHONY 2
Status: Active


Welcome to Chandler highly sought gated community at Symphony Estate. This Resort Style Gated Estate features over $200k in luxury upgrades. A beveled glass door boasts into this 5 bedrooms, 3.5 baths, oversize loft, game room, office, wet bar, family room seating area . The lush backyard setting w/tranquil pool w/waterfall, spa, swaying palm trees, extended covered patio, lush green grass, garden, fire pit, designer BBQ bar, and outdoor fireplace area. Dramatic soaring ceilings,2 fireplaces, art niches, an abundance of beautiful upgraded tiled floors, & plush carpet. Gourmet updated kitchen w/large island, granite counters, breakfast bar, double ovens, Rolex features under cabinetry lighting & plethora of cabinets. Private dining room & bright & cheery breakfast area. (continued)

Listed with ProSmart Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$669,000 :: 599 N ACACIA Drive, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,913 sq ft
Lot Size: 8,712 sq ft
Added: 01/05/21, Last Updated: 01/17/21
Property Type: Single Family
MLS Number: 6173464
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
Status: Active


Elegant home located in the prestigious gated lake community of Playa Del Ray Estates on the water! The community features beautiful fountain common areas, putting greens and so much more The home features a grand entrance and vaulted ceilings 12 to 14 feet high. An oversized kitchen and open space floor plan that's perfect for entertaining. This gated community boasts 2 lakes, 1 for watercraft recreational use and the other for tranquil enjoyment. Private pebble tec pool on the water as well. Shutters throughout. This is a one of a kind, do not miss out, see it today before it's gone

Listed with Superlative Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$959,000 :: 943 E COCONINO Place, Chandler AZ, 85249

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4 beds, 3.5 baths
Home size: 3,833 sq ft
Lot Size: 13,504 sq ft
Added: 12/03/20, Last Updated: 01/17/21
Property Type: Single Family
MLS Number: 6167038
Community: ESTATES AT MCQUEEN
Tract: ESTATES AT MCQUEEN
Status: Active


Stunningly beautiful, custom 4 bedroom, 3.5 bath split floorplan home in the gated community of the Estates at McQueen in South Chandler. Home sits on nearly 1/3 acre and has 4 car garages (split) and fresh exterior paint 11/20. Enjoy a BBQ on the long, south facing patio; and a dip in the sparkling pool with water feature. Numerous upgrades include newer wood look tile, plantation shutters, french door to back, granite counters (2 islands in kitchen), gas fireplace, professionally integrated mister system at patio, central vac, owned Kinetico water softener, RO, garage cabinets, feature walls in several rooms, 14 ft. ceilings, surround sound indoors and outdoors, 2 nearly new water heaters (1 yr and 2 yrs old).

Listed with Ocotillo Realty, LLC


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$375,000 :: 5050 W GLENVIEW Place, Chandler AZ, 85226

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3 beds, 2 baths
Home size: 1,627 sq ft
Lot Size: 5,228 sq ft
Added: 01/16/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6182205
Community: FULTON HOMES AT TWELVE OAKS
Tract: FULTON HOMES AT TWELVE OAKS
Status: Active


Location, location, location, zip code 85226 across from Intel! This 3 bedroom, 2 bath, 2 car garage home with an updated swimming pool and newer A/C unit is ready for you! Entertaining in the formal living room your focal point is a gorgeous neutral stacked stone fireplace with mantel. Your kitchen looks into the great room where you engage in conversations while preparing a meal for friends and family. Backyard BBQ's are a must for summer fun. This is the perfect home for those starting out or downsizing. Schedule your viewing appointment now!

Listed with Libertas Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$549,000 :: 3067 E MAPLEWOOD Street, Gilbert AZ, 85297

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4 beds, 2.5 baths
Home size: 2,834 sq ft
Lot Size: 10,019 sq ft
Added: 01/16/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6182151
Community: STRATLAND ESTATES
Tract: STRATLAND ESTATES
Status: Active


Come see this beautifully maintained home located in the highly desirable neighborhood of Stratland Estates. Recently updated features include granite countetops, cooktop, granite sink and touchless faucet in the kitchen. Tile and laminate flooring throughout home. A custom gate greets you as you enter the courtyard. The home features 4 bedrooms, a formal dining and a private office and a butlers pantry accessible from the kitchen or dining. Private corner lot with only single story homes adjacent on 2 sides. Easy access to the 202 and minutes away from shopping and medical facilities.

Listed with Guardian Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$479,000 :: 2380 S GRANITE Street, Gilbert AZ, 85295

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4 beds, 2 baths
Home size: 2,278 sq ft
Lot Size: 8,277 sq ft
Added: 01/16/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6182084
Community: GILBERT RANCH UNIT 3
Tract: GILBERT RANCH UNIT 3
Status: Active


Located in the heart of Gilbert !!! Single level good size 4 bedroom/2bath home offers a split floor plan, upgraded kitchen and kitchen island with granite counter tops with an open concept into the living room, fireplace, formal dining area, wood and carpet flooring throughout, formal living area, 3-car garage with storage cabinets, RV Gate, a gorgeous backyard with pool, built in BBQ and covered patio where you can enjoy our sunny summer days, perfect for entertaining. So come and view your new home today!!

Listed with West USA Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$799,990 :: 3558 E CHESTNUT Lane, Gilbert AZ, 85298

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5 beds, 3.5 baths
Home size: 4,532 sq ft
Lot Size: 10,019 sq ft
Added: 01/16/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6182026
Community: BRIDGES AT GILBERT PHASE 1 PARCEL 4
Tract: BRIDGES AT GILBERT PHASE 1 PARCEL 4
Status: Active


Beautiful open two story home in the beautiful Bridges community. Huge island kitchen with sitting room, large walk-in pantry with direct access to dinning room. Huge master bedroom and bath with access to work out room, very large closet leading to the laundry room. Upstairs has jack & Jill bath on one side, a huge loft and two bedrooms w/shared full bath. Back room leads out to balcony. Custom Pool w/glass bead finish and baha area. Custom outdoor kitchen with concrete tops, barbeque, griddle and TV. Owner has a dog and cat, please give 30 min notice before showing

Listed with Realty ONE Group


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$420,000 :: 158 W LEAH Court, Gilbert AZ, 85233

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3 beds, 2.5 baths
Home size: 2,020 sq ft
Lot Size: 4,792 sq ft
Added: 01/09/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6179218
Community: TOWNSHIP 2 1-67 71-123 126-131_137-141 TR I-P R
Tract: TOWNSHIP 2 1-67 71-123 126-131_137-141 TR I-P R
The price of this listing was last increased on 1/16/2021 by 5%
Status: Active


The spacious two-story home is located in a highly desired quiet Gilbert neighborhood and on a Cul-De-Sac lot. The property features a nearly new 2020 Trane AC, fresh and new two-tone paint, and brand-new quality carpeting throughout. Granite counter top installed in kitchen and each bathroom. The living, family room and kitchen neatly plan out on the first floor along with the open hierarchical ceiling. An elegant stairway leading you to 3 bedrooms and an open loft on the second floor. The home is complete with a 2-car garage and a wide-spaced backway. Situated in a great school district with shopping centers and grocery stores nearby and only a 5-minute drive to highway 60. Price set for sale. Make this sweet home yours

Listed with Gold Trust Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$320,000 :: 3740 E RED OAK Lane, Gilbert AZ, 85297

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3 beds, 2 baths
Home size: 1,609 sq ft
Lot Size: 11,326 sq ft
Added: 01/16/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6182011
Community: SAN TAN RANCH PARCEL 12
Tract: SAN TAN RANCH PARCEL 12
Status: Active


Investor Opportunity! This home sits on a HUGE CORNER LOT in a fantastic neighborhood. Walking paths, the park, and great schools are just steps away!NO SHOWINGS! HOME IS BEING SOLD AS-IS. Accepted offer will be granted access within 48 Hours of contract acceptance.

Listed with Hague Partners


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$615,000 :: 3911 E JAGUAR Avenue, Gilbert AZ, 85298

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4 beds, 3 baths
Home size: 3,629 sq ft
Lot Size: 10,890 sq ft
Added: 01/16/21, Last Updated: 01/16/21
Property Type: Single Family
MLS Number: 6182009
Community: SEVILLE
Tract: SEVILLE
Status: Active


Stunning upgraded home nestled in the heart of Seville. 4 bedrooms, den, huge loft ,full game room & 3 baths. This home has it all!! Enjoy your summer nights by the pool with no neighbors behind. Gorgeous living room with a wall of glass that opens into the backyard. Private master bedroom downstairs. Kitchen boasts granite counters, long breakfast bar, upgraded cabinets, island, gas appliances and a roomy pantry, eat in kitchen , 3 bedrooms are upstairs with a very large loft with faux wood floors. Separate den downstairs in the center of the house. Game room is at the front of the house downstairs. Could be made into a media room because of it's length. Other upgraded features are plantation shutters, Iron banister, screened porch, garage cabinets and a larger private lot

Listed with Century 21-Platinum Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


 

 

 

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