Realtor Sam Lawmaster<\/figcaption><\/figure>\nHale agrees that the market is in a good place for buyers, but sellers are seeing some nice increases in their home prices which might prompt them to sell and purchase a larger home.\u00a0 \u201cMany people who purchased homes within the last few years are seeing the value of their home rise quite a bit,\u201d he said. \u201cIf the economy continues to improve, it will allow them to sell their homes and use the equity to upgrade their situation. \u201c<\/p>\n
Hale concludes with two other factors that are influencing the local market specifically: a high demand for rental houses and the construction of the South Mountain Freeway.<\/p>\n
\u201cWe receive many calls a day from people asking if we have houses available for rent. \u00a0This demand has attracted some of the large investors back to the area. \u00a0They won’t be buying the more expensive houses, but they will push up the values of the homes in price ranges under $180,000 which will in turn push the entire market up,\u201d Hale said.<\/p>\n
With the freeway, Hale said that now people can actually see the dirt being moved, they will understand that it’s right around the corner and will want to move to an area that suddenly has quick access to all parts of the Valley.<\/p>\n
Here is a breakout for local ZIP codes:<\/p>\n
85339<\/strong><\/p>\nFrom January 1 to March 31 of this year, 181 homes were sold in the 85339 area, a slight decrease of 3.2 percent compared with the 187 homes sold during the same three months in 2015. Homes selling for $160,000-$179,999 showed the highest number of closed purchases with 44 homes sold.<\/p>\n
Listings for 85339 were up during the quarter this year with 500 active listings during the period compared with 469 a year ago, a 6.6 percent increase with 31 additional listings in 2016. More than 140 properties were listed at between $200,000 and $249,999, making it one of the largest price categories. Homes were on the market 25 percent fewer days in 2016, with an average listing time of 66 days.<\/p>\n
85040<\/strong><\/p>\nThere were 80 homes sold in this ZIP code during the first quarter of 2016, up 11 percent over the 72 homes sold during the same time in 2015. The $140,000-$159,999 price range had one of the largest numbers of sales this year with 19 closed transactions in the quarter.<\/p>\n
There were 168 actively listed homes for sale so far in 2016 compared with 154 year-to-date in 2015, a 9.1 percent increase. The $140,000-$159,999 price category had 27 listings, making it one of the largest overall listing categories. The number of days on the market dropped slightly by 1.8 percent reflecting a 54 listing time compared with 2015.<\/p>\n
85041<\/strong><\/p>\nThe number of homes sold for first-quarter 2016 totaled 189, up .5 percent over 2015 which had 188 homes sold during the same time period. The $160,000-$179,999 price category had one of the largest numbers of homes sales this year with 46 completed transactions.<\/p>\n
Listings were down 7.7 percent in 85041 with 417 active properties for sale in 2016 through the end of March compared with 452 properties during first-quarter 2015. With 87 homes for sale, the $160,000-$179,999 price bracket saw one of the greatest numbers of properties listed.\u00a0 In comparison to this period a year ago, the number of days on the market was 70 days, down 2.8 percent.<\/p>\n
85042<\/strong><\/p>\nThere were 138 homes sold in first-quarter 2016 compared with 119 a year ago, an increase of 16 percent over the 119 sold in first-quarter 2015. The $200,000-$249,999 price bracket reported one of the highest numbers of completed sales this year at 32 completed purchases.<\/p>\n
Active listings dropped from 325 in the first-quarter of 2015 to 297 in the first-quarter of this year, an 8.6 percent decrease. With 65 houses for sale, the $200,000-$249,999 price category showed one of the highest numbers of properties listed. Compared to the same period last year, the cumulative days on market for active residential listings in 85042 was 66 days, a drop of 12 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
(This article first appeared in the April 2016 print edition of the South Mountain District News) The average sales price of existing homes continued to rise throughout Laveen and the South Mountain areas of Phoenix during the first quarter of 2016, which ended March 31. Compared with the same time period in 2015, prices […]<\/p>\n","protected":false},"author":1,"featured_media":180,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[368],"tags":[351,152,161,160,239,221,254,450,236,225],"yoast_head":"\n
First-quarter home prices up in Laveen, South Phoenix - Laveen Business Directory<\/title>\n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n\t \n\t \n\t \n