Aviano has been kind of slow recently in terms of inventory going under contract. The homes that closed in the last couple of days reflect how crazy it was in March and early April. We have had more than 10 active listings for awhile which is on the high side based on the last 3 years inventory.
When there is a spell of time where nothing really goes under contract you wonder when (not if) it will slip back into drive from neutral. It is nice to see a couple of MLS veterans get accepted offers:
Strada at 22511 North 39th Terrace last priced at $569K - 196 days on market.
Velez at 22503 North 39th terrace last priced at $549K - 101 days on market.
Click HERE for the current statistical analysis of Aviano. Active listings are averaging $184.91 a sq ft. Back out the Terraza at 3920 East Williams Drive priced at $212.93 a sq ft and it is still $181.80. Many sellers are still pushing the price but the market has been in sleepy time for the last month and a half so days on market are starting to stack up. $181.80 makes our Terraza listing at 3683 East Louise Drive priced at $168 a sq ft look quite good.
Under contract and pending listings are averaging $163 and $162 a sq ft. I will add the solds below to the master sold list and I'll bet it comes in around $160 a sq ft on average.
The La Bella model at 3931 East Crest Lane is now back to active after falling out of escrow for the second time. Currently priced at $189.32 a sq ft.
The Savino model normal sale at 3821 East Cielo Grande sold for $590K or $170 for each of the 3470 sq ft. Normal sale so it appraised.
The Borrego model at 21918 North 36th Way closed for $617,500 or $180 for each of the 3430 sq ft. Also a conventional loan.
In the Villages, the Lucca model - unit 1231 in building 17 closed for $275K or $153 for each of the 1795 sq ft. Conventional loan.
Neighbor Sam sent this article from NBCNews "Rising mortgage rates could disuade new buyers". This may portend the era of free money will start to fade away. I have always maintained it is not what you pay for a home - it is what you pay for the money that is important. Homes will sell for whatever the market value is at that time based on the convoluted appraisal process. But if your paying a hefty interest rate then your quality of life will suffer as those dollars have to go to the bank and not your preferred use. Thanks Sam.
Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale,foreclosure,fireside at desert ridge,Toll Brothers,pulte,bella monte,north phoenix. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Charts courtesy of The Cromford Report and Michael Orr.