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Fountain Hills Year-End, 2016 Market Report: A Gentle Upward Slope

Sonoran MarketReport YearEnd2016 Jan17 CoverSonoran Lifestyle Real Estate is pleased to present the Year-End, 2016 analysis of our Fountain Hills, Arizona real estate market.  As a sales team committed to our community, we always look forward to an opportunity to better understand the dynamics of this very vibrant real estate economy.  We are proud of our hometown community with its world-class atmosphere and are grateful for the opportunity to help you understand it better.

As we begin 2017 with a major transition in our national leadership, Arizona has plenty to be optimistic about.  In early January, 2017, Realtor.com placed the Phoenix metro area as the top housing market in the U.S. for 2017.  This parallels Arizona’s spot as one of the hottest new jobs markets in the country, noted by Realtor.com in a separate article.

Our Fountain Hills market experienced an extraordinary first half of 2016, cooled somewhat in the second half of the year, and nevertheless ended the year with $342.7 million in residential and homesite sales:  5.2% ahead of 2015 and the highest volume of sales since 2007, a decade ago.

A General Upward Trend:  The nice thing about the Fountain Hills real estate market is that it has been a gradual and gentle upward trend since November, 2011.  Not too many dramatic increases in values, and not many periods of flat valuation.  For all of us who lived through 2008-2011, a balanced, gentle upward trend is much preferable to a steep incline, which is almost always followed by a steep decline.  So, if you’re a seller, we hope you’re enjoying our strong market as much as we are.  If you’re a buyer:  What are you waiting for?

Details of the 2016 Analysis can be found at 2016 Year-End Market Report.  Want more detail?  Contact us at 480-816-5557 for the full 30-page report.  We can also create a custom analysis of your home or neighborhood!

 

November 2016 Market Report: Sales Up, Listings Down

Fountain Hills is experiencing a year-over-year decrease in inventory as we finish up 2016, while sales are up for the year.  New Contracts were down in November, yet we owe that to the volatility of the election and expect an increased activity report for December.  Stay tuned!

What does this mean to Fountain Hills Home Sellers?  With Average and Median sales prices increasing, it appears the 2017 selling season–typically January through May–will be advantageous to Sellers.

Call Dori and The Sonoran Home Team today at 602-558-5901 to talk about your property’s value and opportunities.

November 2016 Fountain Hills

July Market Report: Sales Up!

July CLOSINGS were up in Fountain Hills in July after a fast-paced sales period in late June and July.  Inventory is very low, currently, with only 274 Homes and Condos on the market….we haven’t seen inventory this low since  2013!  If you’re thinking of selling…NOW’S THE TIME!  Our Selling Season begins in earnest during the 4th Quarter, so let’s start talking!

Fountain Hills Market Update July 2016 REV

 

 

Mid-Year Market Report for Fountain Hills!

Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security.”

-Russell Sage, American Financier and Politician

Sonoran MarketReport MidYear2016 CoverAs Realtors, we are often approached in grocery lines, PTO meetings or even at the doctor’s office with “I hear real estate is coming back?”  Well, yes, that’s true.  In fact, it’s been true since November, 2011, when our market bottomed out and began its gradual, uphill climb.  This climb will contribute to family wealth.  A keen eye to keeping your home maintained, updated and using your years of occupancy to build equity places many homeowners in a great position to consider moving forward.

Is it that simple?  Yes.  Yet, there’s also a certain amount of magic in the timing of your acquisition and disposal of the property that, hopefully, can be timed to take the best advantage of a market cycle. 

Today, Arizona is not yet back to the prices achieved in 2006.  Will we get there again?  Yes, probably.  Likely higher.  We’ll get there in one of two ways…either by a slow and steady climb or by another “boom” period.  Some US markets have already surpassed their previous market highs.  Yet, one thing that the “boom-bust” cycle taught us is that wide swings in value may not always be ideal.

A balanced market is a beautiful thing.  A slow and steady rise where anyone who wishes to participate can do their homework based on their own needs and make a good decision with the help of good professional guidance.  They can make a decision that allows their family to have a wonderful, heartwarming place to reside, be nurtured and spend their years with loved ones.  And, they can also take advantage of equity growth that will help them build their family wealth.

Is it time for your next chapter?  Let’s talk, and we’ll help you understand all the elements that go into a sound decision!  One thing is for sure, it’s always best to make these changes on your terms! 

 

The problem with real estate is that it’s local. You have to understand the local market. Robert Kiyosaki

The Fountain Hills real estate market at Mid-Year, 2016, is nicely balanced and has experienced a consistent increase in values each year since 2011.  These rates of increase have been in the range of 1% to 8% year-over-year, but have not been the wild 25% returns often reported.  In the current market, large swings in value are more indicative of a seasonal bump in activity, but are usually not sustained.

SINGLE FAMILY AND PATIO HOMES:

At Mid-Year, 2016, the average price of Single Family Homes and Patio Homes (see below for Condos, Townhomes and Geminis) is $525,296.  This is a 3.5% increase over mid-year, 2015 avg. price of $507,644.  Note that just 6 months ago, at Year-End 2016, the year-over-year increase had been 1.2%, so perhaps there is some acceleration in this rate of increase, but 3rd and 4th quarters can always be the great equalizers!

There are currently 235 homes on the market, compared to 246 one year ago.  What is also consistently changing is the number of homes under $400,000, with 46% of our market in this category at Mid-Year 2016 compared to one year ago with 47%.

Mid-year Currently, 13% of inventory is over $800,000 compared to one year ago when 11% fell into that category. 

CONDOS, TOWNHOMES AND GEMINI/TWIN HOMES

At Mid-Year 2016, the biggest movement in our market has been in Condos, Townhomes and Geminis.  Sales activity has increased by 18% Y-O-Y, and the Average Price of this product at Mid-Year 2016 is $212,409, which is a 9% increase Y-O-Y 2015.  The big story is in the diminished inventory of this product, with only 73 condos currently on the market at Mid-Year, representing a 2.5 month supply, and a critical inventory shortage below $200,000.  This is good news for condo investor who may have been holding out for the best time to sell! 

NOTE:  We love sharing information about our market!  This Mid-Year 2016 Market Report is a condensation of our full analysis that is over 30 pages long.  If you would like to see this amount of detail, please contact your Jay and Dori Team Rep at Sonoran Lifestyle Real Estate.  You can reach us at JayAndDori@SonoranLifestyle.com.                 

Tutu Preview: The Jay and Dori Team go pink!

Mark Your Calendar for Ballet Under the Stars

community-ballet_under_stars 2014NOTE:  Rumor has it that Mayor Jay’s Famous Pink Tutu has been sent to the seamstress to be “fitted for a new, worthy dance diva…a totally hot, NewNew for the Tutu”   hmmmm….we’ can’t wait!   

One of our favorite events —Ballet Under the Stars—is just around the corner.  Friday, September 23, at 7:00 p.m. in Fountain Park, Ballet Arizona kicks off its 2016-17 season. This free celebration of dance is a family tradition in Fountain Hills.

But Sonoran Lifestyle Real Estate’s pre-ballet party is another fun tradition to be savored.  Plan to attend this year’s event and be sure to don a tutu….We’ll have a special prize for the best Tutu Adornment!  And, everyone will leave with a park “care package” of ice cold water and an insect repellent wipe!

Be sure to mark your calendar!  We wanted to give you time to gather up your friends, shake the wrinkles out of your tutu and plan to join us before the show.

Sonoran Lifestyle Real Estate Tutu Preview:  Ballet Pre-Party

5:00 – 6:30 p.m.

Ballet Under the Stars

7:00 – 8:30 p.m.

Fountain Hills Theater Retrospective

30 Years: The Show! ….August 19-28, 2016

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Fountain Hills Theater celebrates 30 Spectacular seasons with a special summer cabaret.

Take a nostalgic romp back through the dozens of shows you’ve loved over the years. Thirty of our finest performers will present a musical revue of three decades of award-winning shows. Enjoy this trip down memory lane.

Thursdays, Fridays, Saturdays at 8pm & Sundays at 2pm; Tickets are available on-line or by calling the Theater, 480-837-9661 ext. # 3

Fountain Hills Community Theater, 11445 N Saguaro Blvd., Fountain Hills, AZ 85268 http://www.fhtaz.org/

McDowell in the Moonlight —Adults Only

Moonlight Hike at McDowell Mountain Park:  August 18, 2016

#15 moonlight hikesJoin the Ranger for a guided hike as the sun sets and the full moon rises. There is a beautiful time to experience the desert. Plan for up to a 4-mile hike. Meet at the Trailhead Staging Area.

7-9:00 p.m., McDowell Mountain Regional Park, 16300 McDowell Mountain Park Dr., MMRP, AZ 85268

Phone: (480) 471-0173

http://www.maricopacountyparks.net/events/

Fountain Hills Community Center: Computer Skills Classes

There’s an App for That…August 17, 2016

#2 teens on laptop

Unleash the power of your I-devices. There are millions of apps available including games, entertainment, weather, and news programs, so we will share some of our favorite picks with you.

11:00 a.m. – 12:00 p.m.

Fountain Hills Community Center; 13000 N. La Montana Drive, Fountain Hills, AZ 85268

Fountain Hills Artists Gallery Summer Art Class Series

August 16, and 21, 2016:  Thread Painting with Rita Chester

Artist's Gallery logocolor 

Come play with fiber artist Rita Chester & create your own Cactus “Thread Painting”. You will be using threads in an assortment of colors as well as various beads to complete your painting.  And no sewing is involved! After you complete your painting, Rita will frame it and it will be ready to hang when you get home! No Experience Necessary; Class is limited to 6; $55.00 all supplies included.

Tuesday, August 16, 12-4 p.m.

Sunday, August 21, 1-5 p.m.

Fountain Hills Artists Gallery,16858 E. Avenue of the Fountains, Fountain Hills, AZ 85268, 480.836.9919

info@fountainhillsartistsgallery.com

Annual Fundraiser Auction for River of Time: Thatsa Italian! Spaghetti Dinner

Spaghetti Dinner Fundraiser and Silent Auction: August 13, 2016

#12 Mini Fountain

How about winning Free Pizza for a year from Little Caesars? Or a week in Mexico at one of the luxurious Vidanta Resorts? (The Mayan Palace in Rocky Point is one of their properties, as it the gigantic Grand Mayan in Cancun). Maybe an interior design refresher from Barbara Kaplan of Sonoran Lifestyle Real Estate—while munching $50 of chocolates from Chocofin?

You’re going to find things you didn’t even know you needed at the most amazing summer fundraiser of the season!

The River of Time Museum’s Annual Spaghetti Dinner is one of Fountain Hills most enjoyable Fundraising events. But this year, the Dinner committee has really “kicked it up a notch!”   Tommy Holloway will entertain us while people are selecting items from the silent auction and during dinner!  More than 50 local businesses have donated goods and services, and a complete table for 8 is only $100!

Advance tickets are $15 for one person or $25 for two and can be purchased at Gridley’s, Sami’s, Kay Kinder’s Fountain Fashions, the FH Times or at the River of Time Museum between 10:00 to 2:00, Tuesday through Saturday.  Cost is $20 per person the night of the event.

There is still time to donate.  You may drop off at the Museum or call Debbie Skehen at 480-816-4186 to make other arrangements.

5:30 No host Cocktails and auction; dinner (Donated by Phil’s Filling Station) at 7:00.

Fountain Hills Community Center; 13000 N. La Montana Drive, Fountain Hills, AZ 85268