The second quarter statistics for the Rim Country real estate picture produced the expected uptick in sales and unit volume over the first quarter of 2009.
Increased foot traffic is occurring in both the Payson-Star Valley and Pine-Strawberry markets.
Based upon the foot traffic, we expect the third quarter of 2009 to continue to show an improvement.
The statistics presented below were derived from information reported to the Central Arizona Board of Realtors and does not include unreported or for sale by owner transactions.
For the second quarter of 2009, Payson and Star Valley reported the sale of 66 homes, up from 42 homes sold in the first quarter.
The average selling price was $256,360 with an average of 213 days on the market.
The average selling price in the first quarter was $265,273 with an average of 197 days on the market.
The total value of residential transactions was $17 million.
In the second quarter, homes sold at an average of 8.3 percent below listed price.
Payson-Star Valley currently has 566 homes on the market. This is up from 524 homes that were for sale at the end of the first quarter.
The total value of homes on the market is $258 million.
Vacation-home buyers are starting to return.
The second quarter home sales in Pine-Strawberry showed an increase of 142 percent over the first quarter of 2009.
There were 17 residential sales versus seven in the first quarter.
Total value of the home sales was $3.5 million.
The average second quarter selling price was $204,705. This was down from the first quarter average of $223,214.
Average days on the market were 196 and homes sold at an average of 7.6 percent below listed price.
Pine-Strawberry currently has 162 homes on the market. At the end of the first quarter there were 125 homes on the market.
The total value of the homes on the market in Pine-Strawberry is $21.4 million.
The Phoenix market has an effect on our sales and Valley Realtors have conveyed that their market is showing signs of life.
The Phoenix Multiple Listing Service has less than 32,000 homes for sale and are seeing sales of more than 9,000 a month.
Valley Realtors have also conveyed they are observing builders beginning reopen subdivisions and are breaking ground on new homes.
Ray Pugel is a designated broker for Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.