The first quarter statistics for the Rim Country real estate picture produced an uptick in units sold; however, the average sales price dropped in Payson-Star Valley from the first quarter of 2009.
On the bright side, Pine and Strawberry saw an increase in the average sales price.
Real estate offices are seeing increased foot traffic as buyers are gathering information on available properties and the number of people searching the Internet is increasing.
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 first quarter 2010, Payson and Star Valley reported the sale of 62 homes.
The average selling price was $226,987 with an average of 154 days on the market.
This compares to the first quarter of 2009 when 42 homes sold at an average of $265,273. Average days on the market were 197.
Total value of all homes sold in the first quarter in 2010 was $13,888,185.
First quarter 2009 saw transactions worth $11,141,500.
In the first quarter, homes sold at an average of 5.5 percent below listed price.
Payson-Star Valley currently has 422 homes on the market.
The total value of homes on the market is $162,546,304.
Pine-Strawberry saw sales double in the first quarter of 2010 from the low results of the first quarter of 2009.
Fifteen home sales were recorded in the first quarter of 2010 for a total value of $3,566,850. This was up from seven sales in the comparable period in 2009 with a total valuation of $1,562,500.
The average first quarter selling price was $237,290 compared to $223,214 in 2009.
Average days on the market were 222 and homes sold at an average of 10 percent below the listed price.
Pine-Strawberry currently has 111 homes on the market. The total value of the homes on the market in Pine-Strawberry is $29,517,200.
We would expect second quarter statistics to show improvement over the first quarter and the trend for 2010 to outpace the dismal 2009 results.
Some economists are predicting that prices of homes may have reached the bottom and the slow, steady climb in pricing may have started.
A few properties experienced multiple offers and we saw some properties sell at greater than listed price, all positive signs for sellers and real estate agents.
Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.