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). [Read more…]