IT HAS BEEN A GREAT SEASON FOR SALES IN MUNDS PARK! LEASES TOO! Although prices have not risen sharply, they are going back up…spurned in great part by Provident Partners Realty leading the way in Munds Park with the highest priced sales in the singlewide and doublewide manufactured home and townhome category and some of the highest dollar per square foot sales for cabins in the Park as well. The website marketing and dual MLS listing of homes in both Northern AZ and the greater metropolitan Phoenix area have made a real difference for our clients in achieving higher values for their properties and quicker sales.
Provident Partners Realty listings hit the highest number since opening in Munds Park in 2004. Our clients have been impressed with the results and dozens of them have offered to give personal testimonials to anybody who is interested in buying, selling, listing or leasing with our company. Give us a call for a reference of satisfied customers who have offered to share their experience with Provident Partners Realty, Property Management or Mortgage.
Now on to the good stuff…. through September 19th of this year, the Park has closed 96 sales of homes and land. This equates to a 65.6% increase over the same time period last year! To give you an idea of the improvement, it compares to 82 total sales in 2009, 83 in 2010 and 90 in 2011. If we achieve the average result of the last three years for the remainder of this year we will close at least 124 properties in 2012. Frankly, with 21 pending sales reporting right now, we are likely to close more than 140 sales for the year 2012.
Inventory of homes for sale has fallen to 128 properties which equate to less than 4.3 % of the available inventory of all livable homes in Munds Park. When you consider that about a third of the listings are Provident Partners and we plan to take all of our inventory off the market for the slow winter season…there is not much to sell in Munds Park and there will be even less. Rather than leave listings up over the cold winter season, Provident Partners believes it is in our homeowner’s best interest to take them off the market and have a fresh inventory to present when homes start to sell again next spring.
Many of you have asked how the sales by month have broken down for the last twelve months…From October 2011 to September 2012. Here are the results:
10/2011 11/11 12/11 01/12 02/12 03/12 04/12 05/12 06/12 07/12 8/12 9/2012
11 6 9 2 6 5 9 10 12 21 20 4 ( +21 pend)
As you can see from the numbers, April through October is the mainstay of the season. Of the 136 properties in the evolving scenario, only twenty percent of the sales occur during the off season (28 sales). 73% of the sales occur from April through October. These numbers run true traditionally …with little variance.
The low sale this year was a $44K single wide manufactured home. The high sale was a $440K bank owned designer home with 4300 square feet, five bedrooms, five baths, media room, office, craft room, family room, dining room, living room and three car garage. A steal at that price! We have a couple of listings in this category and would be pleased to share the details with you. Just call us!
One of the best signs for a real estate recovery in Munds Park is the percentage of distressed property sales to total sales. Last year there were seventeen sales that were either bank owned or short sales which resulted in a 29.3% ratio of distress home sales to total sales. Thus far in 2012, the percentage has dropped to only 17% of total sales being either bank owned or short sales. Happily, the number of distress sale properties is at the lowest level in more than three years for the Park.
Properties that are well maintained, without a lot of repairs to be made and are priced right have been selling very quickly this year. Naturally, those with obvious repairs needed or functional issues such as one bathroom, lots of stairs, high traffic or poor location need a lower price in order to attract an interested buyer.
If you have a specific question please drop me a line at Bill.Spain@ProvidentAZ.com or call me at 602-622-1196. As always, Thank You for your business, your confidence and your trust in assisting you with your real estate needs in Munds Park, Northern Arizona and the Greater Metropolitan Phoenix Area. Provident Partners Realty & Management is “Your Partner In Pinewood.” We have had a spectacular year and thank you for your patronage and support!
By Bill Spain, Provident Partners Realty
Designated Broker, “Tid-Bits”