Desert Mountain Real Estate Market Trends – Arizona

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Desert Mountain Real Estate Market Conditions and Trends

Homes for Sale > Real Estate Market > Arizona Real Estate Market > Desert Mountain Real Estate Market

Winter 2012 Market Update The club at Desert Mountain is now Member Owned and has grown to nearly 9000 acres. All the negative commentaries were wrong. The club is terrific and financially stable. You need a private tour from me to understand both the positive and negative aspects of the community. I am a member and I know what is going on.
Average Home Price	$1,000,000 - View Graph Trend

Average Price Compared to Last Year	Down 20-25%

Average Time on Market	90-120 days

Best Selling Price Range	$1,000,000+

Worst Selling Price Range	$100,000 - $149,000

Prices As % of Asking Price	85-90%

Existing Home Prices for the past 90 days are?	Increasing

Market Trend	Decreasing

Buyers’ or Sellers’ Market	More buyers than sellers

Buyer Activity for the past 90 days in Desert Mountain is	Increasing

Seller Activity for the past 90 days in Desert Mountain is?	No Change

Multiple Offers?	Yes

Multiple Offers Commentary	Distress properties sell very quickly, often with multiple offers the same day the listing goes on the market. The amount of distress listings has dropped below 10 percent of the market. The time to buy an easy bargain is nearly expired.

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?	5-10%

Is Financing Available For Qualified Buyers?	Yes

Comments on Financing For Qualified Buyers	Generally expect to put down 30%

Housing Inventory	Good supply - Some Prices

Inventory Comments	The supply of homes has decreased 30 percent this past year as prices settled at levels unseen since 2003. Median price is now 1.375m when it was 1.850.

Greatest Activity	Repeat Buyers

Reason to Buy/Sell	Lower prices with good selection in the top golf community in the nation are reasons to buy in Desert Mountain!

Nearest Metro Area	Scottsdale

Housing Hot Spots	Most of Scottsdale has stabilized. There are terrific deals to be had yet certain properties in Scottsdale mayl see additional declines in the next 12 months.

Average Sold Price	$1,000,000 - View Graph Trend

Desert Mountain Local News

Sluggish housing market in line for a better 2012, according to quarterly survey

The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.

The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.

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Mortgage Rates

– Feb 23rd, 2012 –
---------------------------------

30 yr. fixed rate: 3.90%
15 yr. fixed rate: 3.17%
30 yr. jumbo rate: 4.68%
15 yr. jumbo rate: 3.96%

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(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)

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