If you are considering selling your home, or your home is on the market, these statistics are important. To have an effective pricing strategy, a seller needs to be aware of the number and the quality of homes that their home will be competing against. If a home is not priced competitively, it will languish on the market for a long period of time.
A Realtor can provide you with the information needed to make an educated decision on your pricing and selling strategy.
These market statistics were compiled from the Central Arizona Board of Realtors (CABR). This analysis does not reflect homes where the information was not reported to CABR. While the statistics presented below are somewhat cut and dry, they do portray an accurate picture of our local real estate market.
There are currently 549 homes for sale in Payson and Star Valley. Based on this inventory and the rate of absorption (homes sold in a one year period) we have a two-year supply of homes in Payson and Star Valley. This number, however, is skewed by the homes on the market priced over $1 million, which somewhat distorts the rosier picture for homes priced under $500,000. There are 46 homes on the market priced above $1 million. This equates to a little over a four-year inventory of $1 million-plus homes.
Homes priced between $200,000 and $500,000, are selling faster, however, there is still a 17-month inventory. There are 133 homes on the market in this price range. Homes priced between $100,000 and $200,000 have the fastest turnover rate. There are 80 homes on the market in this price range, and there is only a 10-month supply of these homes.
Pine and Strawberry fare somewhat better than Payson and Star Valley. There is a 17-month inventory of homes in the two communities. There are 154 homes on the market. In Pine and Strawberry, the price level with the highest velocity of sales is between $200,000 and $300,000. There are 49 homes in this price range, which is approximately a one year inventory of these homes.
There is affordable housing in all the communities. As mentioned earlier, in Payson and Star Valley, there are 80 homes on the market priced between $100,000 and $200,000. In Pine and Strawberry, there are 35.