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 October/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 92 Active Listings on the market in Desert Ridge:
62 Are Traditional Listings
16 Are Short Sales
9 Are Bank Owned
5 Are Other/Misc.
There are currently 144 Pending Listings in Desert Ridge:
29 Are Traditional Listings
93 Are Short Sales
12 Are Bank-Owned
10 Are Other/Misc.
During the month of October/2011, there were 49 closed listings in Desert Ridge:
14 Were Traditional Listings
18 Were Short Sales
11 Were Bank-Owned
6 Are Other/Misc.
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 October/2011:
The Average Price/Square Foot for homes sold in September/2011 in Desert Ridge Phoenix was $121.00 per square foot.
The Average Price/Square Foot for homes sold in October/2011 was $112.73 per square foot.
This represents a 7.34% decrease in prices within the community from September/2011 to October/2011. The fact that 29 of the 49 closings were short sales or bank-owned homes probably had a lot to do with this trend.
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!
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.
Desert Ridge Homes For Sale
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