Arcadia & Biltmore Real Estate Market Update For July 2009
July 19, 2009
As damaging as the current downturn is, both Arcadia and the Biltmore are not as affected by foreclosures but the hurt is still there.
Welcome to another episode of how's the market in... I don't want to bore you with these numbers, but I will.
There is some value to following those little digits and how they
change from month to month. They do tell their own story no matter how
remedial or sleepy they it may be.
Arcadia, more or less 85018 except for that odd little piece right by
the Phoenix Mountain Preserve that must have been left there as result
of some mistake brought on by drugs or drink, has been doing well.
Inventory's been declining and sales increasing.
At last count there was an inventory of homes of 8 month. Still in the
buyer's market but no so much as earlier in the year where it was
almost double at 17 months: that's a number that probably had a lot of
sellers weeping if they knew what it meant.
Sales are up to 35 in June. Expect sales to drop off as the summer
continues and the seasonality of the market takes it affects.
Arcadia Neighborhood Real Estate Stats
The Distressed Market:
In Arcadia only 4% of the homes active are lender owned. 15% are short
sale and the rest normal sales. However buyers want good deals so 26%
of the home sold were lender owned and 14% short sale.
In the Biltmore area the numbers are a little bid different: 48% of the homes sold were lender owned and 22% were short sales.
Compare the numbers above to the market as whole where 57% were lender owned and 14% short sales.
Biltmore Neighborhood Real Estate Stats
In the Biltmore the same trends are visible as the entire market. That
is seasonal the sales are up and inventory is down. Supply has
dwindled down to a more respectable 6.1 months but on a days of
inventory measure the number remains high at 277 days and in favor of
the buyer. Expect some pressure on prices as the year continues.
We're heading in the right direction, but it will take a lot of effort and time to balance the market out.
To see what homes are for sale in these neighborhoods follow the links
below the the respective dedicated neighborhood website.
(graphs are from The Cromford Report)
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 | Arcadia Neighborhood in Phoenix, AZ & Homes and Condos For Sale |
| Arcadia Phoenix Homes, Condos, Location, Architecture. |
| item/204247 |
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| Biltmore Area in Central Phoenix | Condos & Homes For Sale |
| Dining, shopping and good living in the very popular and often prestegious Phoenix Biltmore neighborhood |
| item/203195 |
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| Phoenix Real Estate Market Trends Overview | Housing Market Statistics |
| Current and Historic graphs, statistics, tables and commentary of the real estate market in Greater Phoenix |
| item/180051 |
