2019 is not quite over, but we already have enough data to be confident that 2019 resales in the active adult community of PebbleCreek are going to be the strongest ever.
Last year as of the end of November there had been 254 resales; this year, there have been 272 in the same timeframe. In ALL of 2018 there were just 273 resales, so we are clearly on track for a record finish by the end of the year. (And 2018 boasted record sales too!)
In addition to the number of sales, it is good to look at average pricing over time. For all of 2018, the average sales price in PebbleCreek resales was just over $367,000; this year through November, the average sales price is approximately $386,000 – about a 5% increase.
And just looking at November of this year, the sales results are remarkably strong. We had 22 homes close in November of 2019. Just looking back to Novembers between 2015 and 2018 there were, on average, 15.75 sales – so, 22 sales is an incredibly strong preformance for this time of year.
It is also worth noting that while average days on the market for homes that have sold in PebbleCreek is 82 for the first 11 months of 2019, the homes that closed in November were on the market for an average of 49 days – the lowest number we have seen since December of 2017.
Part of the reason for the swift sales on closed homes in November is that only 4 of the 22 homes that closed were over $500,000; the average selling price was $387,973 – just $1,000 over the average sales price for the first 11 months of the year. Moderately priced homes tend to move more quickly than higher priced homes.
So what does this mean for you?
- If you are looking to buy a home priced at or below the average sale price in PebbleCreek, assume that many people are looking at the same house: be prepared with an Arizona prequal or proof of funds and be ready to make an offer quickly if you find a house that you love.
- You can be confident that PebbleCreek is a thriving community that remains in demand and continues to grow.
- For buyers AND sellers, there is a lot of data about the PebbleCreek market that can be helpful in marketing and negotiating. I am happy to share it, so don’t hesitate to reach out to me with your own individual questions!