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Old 03-14-2013, 09:35 AM
 
Location: Casa Grande, AZ (May 08)
1,707 posts, read 4,339,621 times
Reputation: 1449

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SO, the monthly home sales from ARMLS (www.armls.com) are out.....

Good news overall - unit sales are up everywhere from last month - but still down from last years numbers - this is not surprising given everything we ve read about lack of inventory of late....sales numbers cant go up if there is nothing to sell!

PRICING however, is still doing well.... in the overall region the median went up from 154,700 in January to 160,000 in February and that is WELL above the Feb 2012 pricing of 122,000. Average pricing was also up in similar fashion.

Pinal county returned to winning ways after a short break from pricing increases - Median there went from 129,900 in January to 134,000 in Feb and that is up from 102,000 in Feb 2012..

Antecdotally (sp?) I ve noticed inventory down here in Casa Grande dropping again. From a recent high of about 230 SFH for sale on a daily basis (which started to scare me as it was rising in numbers pretty quickly), back down to 185 or so today....our pricing has CLEARLY increased. Back in the day it was common to see a 50.00 per sf listing - now that is the rarity and Im sure there are reasons why it is listed that low. MOST listings are now in the 70.00-80.00 per sf range, with some nicer properties significantly higher.

New home construction has finally started to rebound here as well. Last year CG issues a total of 30 or so new home permits (not including apartments of which a couple did build - with one burning down!) and so far this year we are already at 36 permits....

Who knows what happens next - but I bought in 2008, and it appears Im finally back even.....I have no plans on selling, but its a nice feeling none the less...
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