Every year, I put together a recap of the PebbleCreek resale market and send it out in a PowerPoint presentation. This blog post is a summary of that report – if you would like the full report, just send me an email and I will send it to you! (Maureen.Arizona@gmail.com)

Despite the global chaos of 2020, the PebbleCreek real estate market was incredibly resilient.   Three simple trends describe PebbleCreek resales in 2020: 

•low inventory,

•stable price increases,  and

•decreased days on market. 

All good things!   In this topsy turvy year of covid related travel concerns, we had 290 resale transactions– just six below the number of resales in 2019 (which was a record setting year!).

•The most affordable resale home in PebbleCreek in 2020 sold for $212,000. •The highest end resale in 2020 sold for $875,00.
•The average price per square foot of homes sold was $200.80, although one home sold for $325/sq. ft.
•There were only 30 homes on the market as we began 2021…   which compares to 64 as we started 2020.
•There are 38 homes at the end of 2020 that are waiting to close in early 2021.  There were only 15 at the same time last year!  Looking back over the last four years, average closings in January are only 17.5 – so it seems likely that January 2021 will kick the year off by significantly exceeding average number of closings.
•Days on market in 2020 was 73 days (as compared to 81 in 2019)…  of course some homes sell more quickly and some less quickly, but many buyers have been disappointed by waiting to make an offer.   And the new Coming Soon designation in the MLS has made it possible to sell a home with zero days on market!