Residential Real Estate activity in Litchfield Park, Arizona continues to improve in many areas. For the month ending June 2013, we saw a total of 117 properties actively listed for sale with 88 New Listings in Litchfield Park, as reported through ARMLS – Arizona Regional Multiple Listing Service. 68 properties Closed in June, 2013 with 23 of those Closed Sales being Cash transactions, 27 Closed via Conventional financing, 8 with FHA financing and 10 properties closed via VA financing.
Average Days on the Market for all Homes for Sale in Litchfield Park, AZ was 77 days, down from 80 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).
June’s Average List Price was $260,607 which is roughly a 5% increase from May’s Average List Price of $247,191. Average List Price in June 2013 reflects a 33% increase over the same month last year.
The Average Sold Price in June 2013 was $262,192, which is roughly a 7% increase from May’s Average List Price of $243,994. Average Sold Price in June 2013 reflects an increase of over 29% from June 2012.
June 2013 Total Sold Dollar Volume ended up at $17,465,379. Although the total number of homes sold decreased from June 2012 compared to June 2013, home prices continue to climb which accounts for the added $3 million in Total Sold Dollar Volume compared to June 2012.
The Average SP (Sold Price) vs OLP (Original List Price) Ratio for Residential Real Estate in Litchfield Park was at 99.6%, up slightly from 98.5% last year and up slightly from 98.9% from last month, May 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 June 2013, broken down by price range, can be viewed in the chart below. The majority of Active listings fall in the $200-500k price range.