Sunday, October 28, 2007

Market Update - The Pointe Tapatio

A few quick stats on the local real estate market at the Pointe Tapatio area.

Pointe backyardGeography note for all my neighbors: This includes the patio homes located north of Peoria road, between 7th Street & 12th Street. It does NOT include patio homes located at 10655 North 9th Street. And, it does NOT include patio homes inside the gates with addresses on 12th Place/Court/Way (near the apartment style condos). More on those pricing & selling stats later this week.

FOR SALE    









































































































































































NoAddressBed/BathSqFtLP
110251 N 12th PL 3 Phoenix 2/21436 $265,000
210625 N 11 PL Phoenix 2/21384 $275,000
31011 E Becker LN Phoenix 2/21465 $320,000
4956 E Lois LN Phoenix 3/31985 $349,900
511012 N 10TH ST Phoenix 2/21735 $350,000
610453 N 9TH ST Phoenix 2/21608 $350,000
710607 N 11th ST Phoenix 3/31985 $359,000
81036 E SAHUARO DR Phoenix 3/21735 $369,000
91043 E DESERT COVE AVE Phoenix 3/21735 $369,500
101031 E DESERT COVE AVE Phoenix 3/21735 $389,900
1110819 N 10TH PL Phoenix 3/32264 $425,000
1210625 N 8TH ST Phoenix 4/32195 $449,000
131802 E Lane AVE Phoenix 3/21765 $450,000
1410851 N 11th ST Phoenix 4/32264 $469,000
1511234 N 11th ST Phoenix 4/32464 $489,900
1610614 N 11th PL Phoenix 4/32700 $490,000
17918 E Mescal ST Phoenix 4/32262 $500,000
1810830 N 10TH ST Phoenix 4/32537 $509,000
1910622 N 9TH ST Phoenix 4/32210 $509,000
2011025 N 10th ST Phoenix 4/32477 $529,900
21902 E MESCAL ST Phoenix 4/32668 $550,000
2211030 N 10th PL Phoenix 3/22300 $565,000
231036 E Desert Cove AVE Phoenix 4/43000 $575,000

SOLD IN PAST 30 DAYS 




























StatusAddressBed/BathDateSqFtList PriceSale Price
Pending  10838 N 9TH PL Phoenix 3/2 10/2/20071685 $369,900$0
Sold  1024 E Desert Cove AVE Phoenix 3/210/15/20071630 $366,000$350,000

We're selling 1 per month. I'm feeling generous today and I'm going to count the 1 pending sale as a "sold". If I don't, our supply of homes for sale is a whopping 23 months. I just don't believe it's that bad. But counting 2 sales and 23 homes for sale makes an 11-1/2 month supply which is pretty dismal. 

Pointe Tapatio Prices will continue slipping as long as there's an oversupply of inventory - we should have no more than 6 months' supply for sale. I can't stress it enough - if you don't HAVE to move, don't try to sell right now.

10838 N 9th PlI'll go out on a limb (probably shouldn't, but will) and predict that by October 2008, Pointe Tapatio prices will be $285,000 to $299,000 for the 3 bed, 2 bath 1608 square foot plan, and $320,000 to $330,000 for the 3 bed, 2 bath 1735 square foot plan (the most common plans). Prices for the bigger homes would inch up accordingly. If you have questions about the current market value of your home, give me a call or shoot over an email.