September Greater Arcadia and Camelback Corridor Closes
Recently recorded sales offer the biggest basis for your home's current value. Follow the link below to see which homes closed in September. Keep in mind your home's condition and the golden rule of real estate: location, location, location are keys to your home's value.
September Area Closes (homes shown individually)
There were 69 sales in September compared to 56 in August, 74 in July, 81 in June, and 86 in May. A typical escrow lasts about 30 days, so the majority of the sales that closed in September went under contract in August. In August, most of the area is back in town and beginning to settle into the school year, that is why we see an uptick in the number of transactions after declining for the last 4 summer months. The average list price was $494,904 compared to $746,629 in August. This is quite a drop, but is similar to the May average list price of $497,000. We had more middle range sales in September and the highest sales price was only $1,750,000. In the past months, we have had at least one close over $3 Million each month, which brings that average list price up. The average sales price was $471,076 in September compared to $719,532 in August (homes sold for an average of 96% of list price). The average market time was 88 days and the average size of the homes sold was 2,102 square feet for an average price per square foot of $205.37.
Also to note: values in Arcadia vary widely based on location. For example, in September the lowest sales price was $75,500 for a condo and the highest sales price was $1,750,000 for a 5,538 square foot home.