Residential Real Estate activity in Litchfield Park, Arizona was pretty level compared to last month but a big improvement over July 2012. For the month ending July 2013, we saw a total of 115 properties actively listed for sale with 70 New Listings and 74 New Contracts in Litchfield Park, as reported through ARMLS – Arizona Regional Multiple Listing Service. There were 84 properties Closed in July, 2013 with 30 of those Closed Sales being Cash transactions, 33 Closed via Conventional financing, 13 with FHA financing and 8 properties closed via VA financing.
Average Days on the Market for all Homes for Sale in Litchfield Park, AZ was 57 days, down from 73 Days on the Market for same month last year. This shows a continued trend that homes 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). Continue Reading
July’s Average List Price was $262,414 which is roughly a roughly a 1% increase from June’s Average List Price of $$260,607. Average List Price in July 2013 reflects a 20% increase over the same month last year.
The Average Sold Price in July 2013 was $258,840, which is roughly a 2% decrease from June’s Average Sold Price of $262,192. Average Sold Price in July 2013 reflects an increase of over 20% from July 2012.
July 2013 Total Sold Dollar Volume ended up at $21,742,595. 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 July 2012.
The Average SP (Sold Price) vs OLP (Original List Price) Ratio for Residential Real Estate in Litchfield Park was at 98.5%, up slightly from 98.1% last year and down slightly from 99.6% last month, June 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 July 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.