Doug and Kathy Ingersoll
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The Heart Of Desert Ridge Is Red Hot - Look At These Numbers

The Heart Of Desert Ridge Is Red Hot - Look At These Numbers

I like to call this area (see map below) the heart of Desert Ridge. It is bounded by Pinnacle Peak Rd and Deer Valley Rd to the N & S, Tatum Blvd and 40th St to the E & W. Roughly 20 years old with a few pockets of newer communities like Sanctuary and Cielo on the north touching Pinnacle PEak Rd. Looking at the SIX month period 8-6-19 to 2-5-20 there were 30 sales per month. We will call this BC or "before coronavirus". The following 3 month period will be called DC or "during coronavirus" from 2-6-20 to 5-5-20. The most recent 3 month period from 5-6-20 to 8-6-20 will be called AC or 'after...
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Home Inventory In Phoenix Is Very Low - Here Are The Numbers

Home Inventory In Phoenix Is Very Low - Here Are The Numbers

This morning in Desert Ridge there are 32 single family homes, 38 condo/townhomes and 22 single family homes for lease active in MLS. Valleywide there are 4954 single family homes available for sale.  The article, Unprecedented demand pushes Valley home price gains to No. 1 in the nation, from the Phoenix Business Journal, reports that once again, Phoenix has reported the highest year-over-year gains in home price growth, well ahead of other key U.S. cities. With a 9% year-over-year gain in May among 19 cities measured by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Phoenix was followed ...
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New Home Sales Climb Back From Covid 19 Low In Metro Phoenix from AZCentral.com

New Home Sales Climb Back From Covid 19 Low In Metro Phoenix from AZCentral.com

According to www.AZCentral.com, new home sales have climbed back from COVID-19 low in metro Phoenix and prices are expected to climb as well.  New home sales in the Phoenix area are poised to climb back to March levels which was a four-year high for the market still recovering from the crash. “In April, new home sales plummeted 28% from March,” said Arizona home building expert Jim Belfiore. “But in August, sales should be back at March’s high level.” New home prices are expected to rise with the demand. That’s because builders didn’t have many cancellations in April and ...
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So How Will This Coronavirus Thing Impact Real Estate? Read Here >

So How Will This Coronavirus Thing Impact Real Estate? Read Here >

From our friends at Citywide Mortgage comes an educated guess of how this whole thing will shake out. RESILIENT REALTY Coronavirus cases are spiking in many parts of the country, the additional $600 in unemployment benefits is expiring this week and several large companies are announcing tens of thousands of job cuts. Will real estate weather the storm? Most experts expect the market will remain strong — at least in the short term. The combination of record-low interest rates and hordes of still-employed buyers descending on limited listings has kept prices high. Any fallout is most likely to occur in the late fa...
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Demand For Fireside Desert Ridge Rentals Is High

Demand For Fireside Desert Ridge Rentals Is High

With 5255 single family homes available for sale in the Valley this morning and 200+ people moving here a day, leases are the only option for a majority of the newcomers. This is just for Fireside Desert Ridge and is all housing types so single family homes and townhomes. The number of sales per month is consistently 2-3 per month. As of this morning there is a 1.67 month supply based on the number of listings. The median sales price took a dive in the previous quarter to $2200 but rebounded to $2750 in the most recent quarter based on the types of property and price point. The median comparable list price in the most recent quarter also j...
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