Ahwatukee Homes Sales Up 17% in 2011 – Price Decline Slows

• Ahwatukee Homes Sales rose to 1,712 units sold from the 1,466 unit sold in 2010. Average Ahwatukee Homes sale prices declined 6.6% from an average $241,049.00 in 2010 to $225,136.00 in 2011.

• Regular listing (owned and sold by the homeowner) increased to 744 units sold 2011 from 644 units sold 2010.

• Short Sales declined to 368 units sold down from 421 units in 2010.

• Lender owned property sales increased to 528 units in 2011 up from 453 units in 2010.

• Sales prices for Regulars listings, short sales and lender owned properties declined slightly over 2010 sales prices as well.

• Marketing times remained about the same from 2010 to 2011.

The increase in regular listings and the sale of properties by the homeowner is a positive note. We are seeing the banks finally take some measures to put staff and resources in place to expedite the short sales process. While not reflected in the 2011 numbers, we anticipate that shorts sales will rise dramatically this year and lender owned sales will decline as the banks and lenders finally realize that it is more economical to short sale a property than it is to foreclose. As banks and lenders put the staff and resources in place to accommodate this shift, we should see a faster normalization of our real estate market.

2011 Total Closed (All Listings): 1,712

2011 Average List Price after reductions (ALL Listings): $225,136.00
2011 Average Selling Price (All Listings): $217,239.
2011 Average Days on Market (All Listings): 112
2011 Average Listing Price to Selling Price Difference (All Listings): 10.65%

2011 Regular Listings Closed: 744

2011 Regular Listing Average List Price: $296,057
2011 Regular Listing Average Sale Price: $268,269.
2011 Regular Listing Average Days on Market: 99
2011 Average Listing Average List Price to Selling Price Difference: 8.26%

Short Sales Closed: 368

2011 Shortsale Average List Price: $248,387.
2011 Shortsale Average Sale Price: $217,133.
2011 Shortsale Average Days on Market: 164
2011 Short Sale Average Listing Price to Selling Price Difference: 11.25%

2011 Lender Owned Closed : 528

2011 Lender Owned Average List Price: $184,394.
2011 Lender Owned Average Sale Price: $167,949.
2011 Lender Owned Average Days on Market: 99
2011 Lender Owned Average Listing Price to Selling Price Difference: 11.98%

2010 Ahwatukee Real Estate Sales Analysis

2010 Total Closed (All Listings): 1,466

2010 Average List Price after reductions (ALL Listings): $241,049.00
2010 Average Selling Price (All Listings): $231,517.
2010 Average Days on Market (All Listings): 123
2010 Average Listing Price to Selling Price Difference (All Listings): 10.76%

2010 Regular Listings Closed: 644

2010 Regular Listing Average List Price: $321,636
2010 Regular Listing Average Sale Price: $282,594.
2010 Regular Listing Average Days on Market: 107
2010 Average Listing Average List Price to Selling Price Difference: 9.35%

Short Sales Closed: 421

2010 Shortsale Average List Price: $222,860.
2010 Shortsale Average Sale Price: $192,828.
2010 Shortsale Average Days on Market: 158
2010 Short Sale Average Listing Price to Selling Price Difference: 11.33%

2010 Lender Owned Closed : 453

2010 Lender Owned Average List Price: $190,558.
2010 Lender Owned Average Sale Price: $170,607.
2010 Lender Owned Average Days on Market: 111
2010 Lender Owned Average Listing Price to Selling Price Difference: 11.87%