Yesterday I went through MLS and the tax records and put together this list of Villages Condos sold year to date. Looks like $155 a sq ft is what has happened on average.
Now take a look at this statistical analysis of the current actives.
You can also click HERE for the listings themselves.
Some observations: I talked with Linda Vollrath (the sales person who spent years at the sales office) about a month ago. She said Toll would start construction when they could get much better prices for the units than the recent past. If you look at the current listings by Toll Brothers in the Villages you can see by their price points where they want to be:
1239 is a Piatto model priced at $285K or $191 a sq ft.
1252 is a Pienza model priced at $293K or $185 a sq ft.
1380 is an Arrezo model priced at $399K or $268 a sq ft.
1381 is a Cerreto model priced at $396K or $258 a sq ft.
1380 and 1381 are the former models.
Price points are moving higher for listings and sold prices will be gravitating higher in time as well. The current average for active listings in the Villages is $203 a sq ft. Prices will not be going down in the future. Neither will interest rates.
Shameless plug for our listing: Looking at the current lineup of condos for sale, I would say the Lucca model in building 8, Unit 1109 is a great buy at $172.70 a sq ft. A very desirable floorplan and the amount of storage space in the garage cannot be beat. ALL of the living area is on one level. Call me if you would like to see this beautiful interior unit.
The $160's and $170's price points will be a distant memory in the Villages possibly this year. Just like you will not find a single level home below $475K in Aviano again. And with no new construction available in Desert Ridge for the foreseeable future, there is nothing to stop the trend.
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.