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Aviano 3rd Qtr 2014


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Blog by Doug Ingersoll | October 7th, 2014


Comparing the first ten months and 4 days of this year to last there are few differences except for sale price per sq ft. Last year it was $161/$165 for 2 story/single story. This year is $171/$185 so appreciation has been good. Not much change in the collection composition of sales either; 2014 has had 5 more Ocotillo, 2 less Cassia, 3 less Palo Verde, 1 less Desert Willow, 4 less Cottonwood and 2 more Mesquite sales. Number of sales are remarkably similar as well with 49 at this point last year and 46 in 2014. All sales are outlined in spreadsheet form on www.BlogAviano.com.

There were 11 sales in the third quarter 2014 versus 18 in 2013. Aviano and Desert Ridge have been a bright spot in an otherwise slower than normal market (sales were lower in the 3rd quarter versus last year by 1739 valley wide). We averaged a little over 21 active listings at any one time in the third quarter versus 14.5 in the 2013 third quarter. This is pushing days on market higher and some sale listings have added a lease listing as well. October and November of 2013 were strong with 7 sales each so all fingers crossed we get a repeat. 

From Michael Orr at The Cromford Report: "There is still no significant sign of an improvement in demand, although comparisons with 2013 are much easier now because the slump in demand started in August 2013. Sales in September 2013 were unusually weak and at the time we blamed it on the government shutdown. Sales in September 2014 were slightly weaker than last year which reflects the lack of financing available to ordinary homeowners. Tight lending standards, especially for first time home buyers seem to be having a major negative effect on demand. " Aviano is not for first time buyers. My best guess is we will continue to glide along at this same pace until there is a significant uptick in employment.