Residential Real Estate activity in Litchfield Park, Arizona was down slightly compared to last month but certain categories still showed a big improvement over August 2012. For the month ending August 2013, we saw a total of 122 properties actively listed for sale with 62 New Listings and 56 New Contracts in Litchfield Park, as reported through ARMLS – Arizona Regional Multiple Listing Service. There were 73 properties that Closed in August, 2013 with 15 of those Closed Sales being Cash transactions, 28 Closed via Conventional financing, 18 with FHA financing and 12 properties closed via VA financing.
Average Days on the Market for all Homes for Sale in Litchfield Park, AZ was 73 days, up slightly from 57 Days on the Market for July, 2013. Days on the Market for Litchfield Park may seem high but it is important to take into account some of the homes that closed were higher end, more expensive homes that take longer to sell. Most homes for sale in Litchfield Park are not sitting on the market long if priced right. (There are some overpriced homes from sale in Litchfield Park that sit on the market longer, altering Average Days on the Market. It is important to know that if you are a home buyer looking to purchase a home in and around Litchfield Park, if the home is priced right and in good condition, it is not uncommon for the property to receive multiple offers and go under contract within the first seven days from when the home was listed).
August 2013 Total Sold Dollar Volume ended up at $18,415,867. The increase in the total number of homes sold along with increased sales prices accounts for an increase of $7 million in Total Sold Dollar Volume compared to August 2012.
The Average SP (Sold Price) vs OLP (Original List Price) Ratio for Residential Real Estate in Litchfield Park was at 97.0%, down slightly from 98.7% last year and down slightly from 98.5% last month, July 2013. (This is an interesting statistic as this shows that on average, Homes Listed for Sale in Litchfield Park, AZ sell very close to the original list price).
Litchfield Park Sold and Active Real Estate Data as of August 2013, broken down by price range, can be viewed in the chart below. The majority of Active listings fall in the $150-400k price range.