Sonoran Lifestyle Real Estate is pleased to present the Mid-Year, 2015 analysis of our local, Fountain Hills, Arizona real estate market. As a sales team committed to our community, we always look forward to an opportunity to better understand the dynamics of this very vibrant real estate economy. We are proud of our hometown community with its world-class atmosphere and are grateful for the opportunity to help you understand it better.
As we pass the half-way mark on 2015, the Fountain Hills real estate market reflects the cautious growth that pervades the rest of the country, with a 10% increase in the number of sales during the mid-year 2015, compared to mid-year 2014. There were a total 468 combined sales of Homes, Condos and Homesites, with $177,621,891 in volume during the first half of 2015.
Average Prices of Single Family & Patio Homes at $507,644 saw only modest appreciation of 1% (June 30, year-over-year), while Condos and Townhomes actually saw a 5% reduction in average price to $193,483. Yet, sales of condominiums increased drastically by 22% with 150 units sold and $29 million in sales, a pace only seen one other time since 2008. Coupled with a reduction of 12% fewer single family homes & patio homes sold under $400,000, and there are strong indications that price growth may likely follow for the lower price range of inventory.
To get the “Full Scoop” go to Mid 2015 Market Report. If you’re a real numbers geek, contact your Sonoran Lifestyle Associate to get the backup for this report or better yet, get a customized report for your particular needs!