Anthem -There are decent number of homes on the market, and about half are short sales. There is very little bank inventory on the market right now and we are not seeing a lot of it come onto the market right now. There are also a lot of homes in contract, but you will notice from the statistics that those accepted contracts are mostly on short sale listings. This is an unreliable statistic because there are a lot of buyers in escrows that may or may not work out. Couple that with the fact that your average short sale escrow lasts over 4 months, and you can see there is going to be a lot of fallouts. Some banks will allow the listing agent to slip in a new buyer at the approved short sale price, and some make the listing agent start from scratch again. No real defined rules here. Anthem has a good percentage of normal listings on the market. It appears that the Anthem area is stabilizing in terms of price. Statistically speaking, we are in a buyer's market. The homes that are priced realistically and don't require a full remodel are moving very quickly. They are still getting multiple offers. The rest will get one or two offers and maybe take a month or two to go into escrow. The average price in Anthem is a little higher than many other areas. This is due to the fact that there are a lot of higher priced homes in this area and a significant percentage of these are on the market. There are almost 100 homes here that are listed above $500,000, which is more than double our median price of homes. There are 38 homes listed at $1 million or above. This is skewing the average price upwards very significantly. Consider that only 3 homes priced above a million have sold in the last 3 months, and these were at deep discounts.
# of homes for sale with and without contracts (EA, ER, AU, C, P): 379 % bank owned: 8.971% % short sales: 55.409% % normal listings: 35.939%
# of listings w/o contracts (EA, ER, AU): 189 % Bank Owned: 9.524% % Short Sale: 32.275% % Normal Listing: 58.201% Average Price: $703,608 Average DOM: 185 Average LP/SF: $172
# of contingent / pending listings (C,P): 190 % Bank Owned: 8.421% % Short Sale: 78.421% % Normal Listings: 13.158% Average Price: $327,368 Average DOM: 145 Average LP/SF: $122
# of sales in February (S): 36 Average List Price: $308,673 Average Sale Price: $308,003 Average DOM: 80 Average Sales Price vs. List Price: 99.26% % bank owned: 41.667% % short sales: 27.778% % cash: 44.444% % conv: 30.556% % FHA: 19.444% % VA: 5.556%
*Current homes with and without contracts are current as of March 19, 2010. ** Sold homes are for the month of February only.
Company: Sellstate NRES
Phone: 702-723-8050
Email: PR at VegasREOHouses dot com
