Verrado Home & Pending Sale Price Update

Posted by Doug Young on Tuesday, March 12th, 2013 at 10:34am

Verrado newly listed homes still remains brisk as we are now up to 90 active Verrado AZ homes for sale (including those under contract but accepting back up offers), with 7 short sales and 3 bank owned homes listed.  There are now currently 37 pending homes in Verrado, with only 7 homes being new construction.  Overall, new construction home activity remains brisk, but the numbers continue to show a very strong increase in the resale activity at Verrado.  This is good for the market overall and should start to translate into an increase in prices for resale homes.  Now while the Verrado market for resale homes is improving, pricing is still a key part of the marketing plan because you are competeting against the allure of new contruction and the ever present bank appraiser.

When looking at sold homes in Verrado, we find a total of 59 homes sold over the last 90 days, with an average closed price of $266,0638; which was 99% of the asking price and 69 cummulative days on market.   This price was a slight drop since the last reprot, but does encompass all price points.  Of this 33 were Verrado real estate resales and 26 were new construction homes.  Pending home sales in Verrado for the resale market continue to lead new construction.

When looking at only resale Verrado homes, the average price was $248,459 (98% of asking price), with an average size of 2537 sq ft; resulting in an average of $99.41, up a $2.07 per sq ft since the last report three weeks ago.   The average size is down, but price per square foot is up which is typical of smaller square footage homes.  The average days on market for these Verrado resale homes was 72 days, and increase of 12 days over the last report.

If you are looking to purchase a home in Verrado, especially if you are interested in any new construction, be sure to contact us first.  It is very important to have your own representation when working with a home builder.  In addition, be sure to ask about our $1195 closing cost credit through Axia Home Loans for clients of The Cascade Team.  As local residents, we not only know the area, we want to bring additional value when you choose us as your Realtor.

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