Cottonwood Home Team

There is good news in the second quarter results.  The median sales price dropped 4% from the first quarter but the number of sales increased 21%.  That is a good sign but also one of consistency compared to past years.

Since 2005, the second quarter has always closed more homes than the first, third and fourth quarters.  Whether that is due to spring break fever or attempting to get things moved for the summer we never know but it will be interesting to see what happens in the third quarter of this year.

The dramatic increase in the number of sales is also a sign that many feel they have waited long enough to jump into the market.  Interest rates at this time remain stable so depending on the price point owning is cheaper than rent.

January 1st 2010 to June 28 2010 vs. January 1st 2011 to June 28 2011 saw a major jump.  The number of sold homes in the Cottonwood-Clarkdale-Verde Village-Cornville areas jumped from 229 to 263.  That is an increase of 13%!

However, the average sales price in that same time period dropped 17% and the median sales price dropped 19%.  So good news bad news?? Depends on if you are a seller or buyer.

It appears that the "new" real estate values are assiting first time and move up buyers and the lower interest rates are proving that it is cheaper to buy vs. continuing to rent.  Don't be one of those on the side lines, if the interest rate increases 1% the values would have to decrease 10% on average to have the same house payment.

Take advantage of one of the benefits to this "new" economy.

Today's blog is very exciting. I just checked the inventory and things are looking really good. 

In Cottonwood-Clarkdale-Cornville-Verde Village area there are currently only 258 site built homes on the market.  252 sold in the last 6 months.  That means we have about a 6 month inventory.  That is the best news we've had in a mighty long time.

Homes available under $150,000.00 only total 66 and with 157 selling in the past 6 months that leaves us with a 2.4 month supply.

If you are waiting for that great deal..well don't wait any longer.  If you are thinking about selling your place you might be in better shape than you thought.

Give us a call with any questions and Happy Mother's Day to all you out there.