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

$305,000 :: 2138 E SARATOGA Street, Gilbert AZ, 85296

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3 beds, 2 baths
Home size: 1,154 sq ft
Lot Size: 5,663 sq ft
Added: 10/15/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6145662
Community: FINLEY FARMS SOUTH PARCEL 16
Tract: FINLEY FARMS SOUTH PARCEL 16
The price of this listing was last reduced on 10/24/2020 by 3%
Status: Active


Look no further as the perfect starter home is waiting for you in Finley Farms! This turn key home welcomes you into it's large, open floor plan with natural wood floors and neutral paint tones. Step into the moderately sized kitchen where you will find all your cooking needs while gazing outside to your lush green backyard with not one - but two different seating areas! The three large bedrooms all have newer carpet, ceiling fans and plenty of closet space! This home is minutes away from downtown Gilbert, major freeways, San Tan & more. Between the low maintenance and ideal location this immaculate starter home will truly wow you!

Listed with My Home Group 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/!


$575,000 :: 2441 W THOMPSON Way, Chandler AZ, 85286

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3 beds, 3 baths
Home size: 2,954 sq ft
Lot Size: 10,019 sq ft
Added: 10/24/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6151680
Community: BRITTANY HEIGHTS
Tract: BRITTANY HEIGHTS
Status: Active


COVETED HARD to find SINGLE level 3 CAR GARAGE, surrounded by ALL SINGLE LEVEL HOMES on LARGE LOTS in Prestigious SOUTH Chandler Neighborhood**Three bedrooms, 3 FULL Baths PLUS DEN**COME SEE this TROPICAL Paradise with LUSH CURB APPEAL**Double Door Entry leads to FOYER with FORMAL Dining, Separate Formal Living Room**Walk thru to an OVERSIZED Kitchen and GREAT ROOM**OWNERS UPDATED kitchen with KitchenAid Double ovens, Induction cooktop and dishwasher**SUPERSIZED island GREAT for entertaining**Great room fireplace and Custom Built in wine fridge with walnut cabinets, and LED Stemware display**SHUTTERS Everywhere**MASTER SPLIT**TWO Bedrooms have Jack n Jill, one with WALK-in CLOSET** AMPLE Master Bedroom has Newer carpet, sliders to patio**Master BATH his/hers sinks, Custom WALK in GLASS

Listed with Desert Properties 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/!


$295,000 :: 1767 W MARIPOSA Court, Chandler AZ, 85224

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2 beds, 2 baths
Home size: 980 sq ft
Lot Size: 4,356 sq ft
Added: 10/24/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6151683
Community: PULTE VILLAS CHANDLER
Tract: PULTE VILLAS CHANDLER
Status: Active


Perfect Location!! Close to I-10 and Chandler Mall!! Come view this adorable 2 bedroom, 2 bath single story home. Home has a private courtyard with pavers that welcome you in. The kitchen has beautiful spacious cabinets, granite counter tops and black appliances. Brand new pain, ceiling fans and tile throughout home!. You can enjoy the maintenance free back yard! Call today, don't let this one go!!

Listed with The Maricopa Real Estate Co


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


$599,900 :: 1962 E CANYON Way, Chandler AZ, 85249

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4 beds, 3.5 baths
Home size: 2,635 sq ft
Lot Size: 7,406 sq ft
Added: 10/24/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6151672
Community: Calabria
Tract: Calabria
Status: Active


Gorgeous 2635 sf home in the quiet and very desirable gated community of Calabria. This beautiful 4 bedroom + den, 3.5 bath home features a split floor plan with many custom upgrades including new hardwood flooring throughout, new tile flooring in all bathrooms, crown molding, 10 ft ceilings, epoxy floor in garage, and lots of natural light. The gourmet kitchen boasts high end cabinetry, beautiful textured granite countertops, oversized island, subway glass tile backsplash, ss appliances, gas range and walk-in pantry. The huge living room opens to the kitchen and dining room and features 16' sliding doors that lead you to the picture perfect backyard. Master suite is spacious and offers a master bath with dual sinks,oversized shower with new upgraded tile, and walk-in closet with custom

Listed with Midland Real Estate Alliance


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


$534,800 :: 159 N ABALONE Drive, Gilbert AZ, 85233

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5 beds, 4.5 baths
Home size: 3,231 sq ft
Lot Size: 6,970 sq ft
Added: 09/16/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6132697
Community: ENCLAVE AT NORTH SHORE
Tract: ENCLAVE AT NORTH SHORE
The price of this listing was last reduced on 10/24/2020 by 0%
Status: Active


MOTIVATED Seller! 2018 constructed home in Gated subdivision of Encore at North Shore - 3200 plus square feet at this PRICE is truly Rare. The lovely home boasts 5BRs+Den+a Huge Loft/4.5 Baths. 3 of the BRs are Suites including a Suite downstairs and a den - Are you Kidding me!! Home offers a Stylish Kitchen w/Granite counters, Stunning Stainless Steel Appliances, pantry, and a Gas stove. It has canned lights in all the right places and home inclu. ceiling fans throughout the rooms/den/loft etc. Generous yard w/extended patio space - plenty of room for a nice party! Master BR offers lovely size - not to mention the spacious balcony w/views that are impressive. Windows include Levolor shades. Other featrs: 8ft doors, backyard gas conn and Tesla Prewire.

Listed with Keller Williams Realty Phoenix


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


$305,000 :: 50 E CATCLAW Street, Gilbert AZ, 85296

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3 beds, 2.5 baths
Home size: 1,564 sq ft
Lot Size: 2,614 sq ft
Added: 10/03/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6140380
Community: VILLAGE AT GILBERT & WARNER
Tract: VILLAGE AT GILBERT & WARNER
The price of this listing was last reduced on 10/24/2020 by 4%
Status: Active


Beautiful 3 bedroom, 2.5 bathroom home right in the heart of Gilbert. Great curb appeal leads you into the lovely interior featuring a fluid open floor plan and plush carpet and tile in all the right places. Eat in kitchen boasts granite counter tops, sleek black appliances and dark wood cabinets. Large master with walk in closet, dual sinks and separate tub and shower. Enjoy mornings and evenings on your quaint back patio. Perfect for coffee or a BBQ. You'll love relaxing at the community pool and park. Amazing location, close to everything Gilbert has to offer. Shopping restaurants, parks and so much more. Do not miss out on this gem. See it today!

Listed with Venture REI, 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/!


$899,000 :: 2547 E PAGE Court, Gilbert AZ, 85234

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5 beds, 3.5 baths
Home size: 3,855 sq ft
Lot Size: 25,701 sq ft
Added: 10/02/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6141339
Community: Whitewing at Wiehl Estates
Tract: Whitewing at Wiehl Estates
The price of this listing was last reduced on 10/24/2020 by 10%
Status: Active


This Charming Victorian home is located on a Quiet Cul-de-sac in the Gated Premier White Wing at Wiehl Estates community. Approximately $250,000 in UPGRADES in this Absolutely Gorgeous home in the Heart of Gilbert. You will enjoy easy Walking or Biking access to the Riparian Preserve and the Eastern Canal Path. This Stunning Home offers an Open Floor Plan with 4 Bedrooms (optional 5th Bedroom), 3 1/2 baths, Eat-In Kitchen, Dining Room, Sitting Room, Family Room with Gas Fireplace, Large Bonus or Media room PLUS an Office. The Master Suite includes 2 Walk-in Closets, Dual Sinks, a Walk-Through Shower and a Lg. Bathtub. This home is Completely Updated and abounds in Storage Space with Built-in Cabinets in the Family Room and Bonus Room plus Floor to Ceiling Cabinets in the Garage. Much MORE...

Listed with Carlson Real Estate Specialists


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


$469,000 :: 1973 W SPRUCE Drive, Chandler AZ, 85286

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3 beds, 2 baths
Home size: 2,213 sq ft
Lot Size: 7,841 sq ft
Added: 10/24/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6151578
Community: Pecos Ranch
Tract: Pecos Ranch
Status: Active


The location could not be any better, quick access to the south 202 and 101, 5 minutes from Chandler Fashion Center, Intel, etc. A complete remodel top to bottom, corner lot, 3 car garage, new cabinets, flooring, total master bath makeover, 3 bedrooms and a den, perfect home office, cool on the feet $6,000 brand new Travertine on front and back patios, new garage doors, new paint inside and out, endless upgrades and features, 2 separate family rooms/living areas, community pool and ready for immediate move in.

Listed with Arizona Experience 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/!


$595,000 :: 6095 S SAN JACINTO Street, Gilbert AZ, 85298

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5 beds, 4.5 baths
Home size: 4,120 sq ft
Lot Size: 10,455 sq ft
Added: 10/24/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6151553
Community: MARBELLA VINEYARDS PHASE 1
Tract: MARBELLA VINEYARDS PHASE 1
Status: Active


Welcome home to this stunning Richmond American home in highly desired Marbella Vineyards. This home is located in the Casteel/Auxier Chandler School District. Enter this 2 story home to soaring ceilings. Office to the right and powder bath to the left. Guest suite, family room, kitchen, formal dining room and laundry room all on the first floor. The kitchen features granite counter tops, dark cabinets, stainless steel appliances, center island, pantry, breakfast bar and separate breakfast dining area. There is a court yard off the kitchen/dining area. There is a double stair case to access the loft, master bedroom suite & remaining bedrooms. Tile on first floor and new carpet and paint throughout. Exit to your resort style backyard. Covered patio, pebble tec salt

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/!


$316,000 :: 2475 E BROWNING Place, Chandler AZ, 85286

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3 beds, 2 baths
Home size: 1,302 sq ft
Lot Size: 7,841 sq ft
Added: 10/24/20, Last Updated: 10/24/20
Property Type: Single Family
MLS Number: 6151542
Community: PECOS ALDEA UNIT 2
Tract: PECOS ALDEA UNIT 2
Status: Active


This adorable single level home is located on an OVERSIZED pie shaped lot and is nestled into a quiet Chandler cul-de-sac. Bright open floorplan with vaulted ceilings, plant niches, newer kitchen cabinetry, new carpet, and newer HVAC unit. The large Master Suite has dual closets, perfect his/her set up. HUGE backyard with unlimited potential and possibilities. Located just around the corner from parks, freeway access, dining and entertainment.

Listed with United Brokers 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/!


 

 

 

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