Desert Ridge Homes Monthly Real Estate Report - July 2011

Desert Ridge Phoenix is a vibrant 5,700 acre community, located within the Desert Ridge Master-Plan. It boasts incredible desert views,the excelling Paradise Valley School District, an amazing 15,000 square foot community center, and wonderful shopping/dining opportunities at the nearby Desert Ridge Marketplace.

Subscribe to the Desert Ridge Homes Monthly Real Estate Report to get this report delivered to your inbox on a monthly basis. The report is meant to keep you up-to-date on the latest real estate trends in the community.  Please click on the chart below to make it larger.


Before I begin to explain the findings in the above chart, allow me to take a moment to define some of the terms.

Active: Listings that are currently listed as being "Active" in the MLS.

Pending: Listings that are currently under contract. This includes both Short Sales and Traditional (non- distressed) listings.

Closed: These are homes that closed escrow during the month of July/2011.

Traditional: These are listings that are "non-distressed" (i.e., not short sales or bank-owned).

Short Sales: These are listings that are marketed/sold for less than what is owed on their respective mortgages.

Bank-Owned: As the title implies, these are listings that are marketed/sold by the bank/lender that owns them.

Other/Misc.: These listings are owner/agent, probate, court approval required, etc.

There are currently 95 Active Listings on the market in Desert Ridge:

62 Are Traditional Listings

20 Are Short Sales

11 Are Bank Owned

2 are Other/Misc.

There are currently 160 Pending Listings in Desert Ridge:

30 Are Traditional Listings

92 Are Short Sales

21 Are Bank-Owned

17 are Other/Misc.

During the month of July/2011, there were 57 closed listings in Desert Ridge:

25 Were Traditional Listings

14 Were Short Sales

18 Were Bank-Owned

Finally, in the Desert Ridge Homes Monthly Real Estate Report, we will compare month/month cost per square foot for those homes that closed escrow in July/2011:

The Average Price/Square Foot for homes sold in June/2011 in Desert Ridge Phoenix was $108.18 per square foot.

The Average Price/Square Foot for homes sold in July/2011 was $107.91 per square foot.

This represents a 0.25% decrease in prices within the community from June/2011 to July/2011.  The fact that 18 of the 57 closings were banked owned had a lot to do with this.

If you are looking at buying a home in Desert Ridge, feel free to call the Desert Ridge Homes Team for a more in-depth analysis of area. We have helped countless Desert Ridge Home Buyers find their dream homes over the years, as well as surrounding neighborhoods in the area.

Or, if you would like to search for you own Desert Ridge homes on the internet, you've come to the right place. Our Desert Ridge Search allows you to set up your own search parameters, and you will receive an email whenever a new listing that matches your needs hits the market. Trust me, you'll love it!

If you are looking to sell your Desert Ridge home, look no further. Call our Desert Ridge Homes Team to discuss your options.

As I said at the beginning, I will be posting this information on a monthly basis. If you'd like to keep abreast of the latest happenings, feel free to subscribe to the Desert Ridge Homes Monthly Report to get monthly updates on the market.

Below is a map of all available homes currently listed in the Desert Ridge area. If you would like to conduct your own search, simply click on the red "Search" tab, add your own parameters to the boxes, and you can search anywhere in the Metro Phoenix market. You will not leave this page, and, unlike other companies, we DO NOT ask for your name or email address to use this valuable service. Enjoy!

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Bob Hertzog

Summit Home Consultants

Visit the Desert Ridge Phoenix website

Copyright © By Bob Hertzog 2011 *Desert Ridge Homes Monthly Real Estate Report - July 2011*