More Homes Under Contract than for Sale in PebbleCreek
PebbleCreek Real Estate Market Report May 2021
Sparse inventory was the name of the real estate game in May all over the country and in PebbleCreek, Arizona. More homes were under contract at a 56% pending ratio than for sale in this Goodyear retirement community. Sellers in PebbleCreek seemed to be testing the highs of the market. One listing, originally priced at $645,00, with over 5 months on the market, increased the price in June by 12%. The new price, $722,000. The sellers did update some flooring from carpet to wood-looking tile in the great room. Does that sound like a $77,000 upgrade to you? The price changed on June 15th. So, stay tuned to see if this home goes under contract. Now let’s dive into PebbleCreek Real Estate Market Report May 2021.
What’s the housing market like in PebbleCreek? Strong Sellers Market
May Housing Numbers
In May, there were only 17 homes for sale, of which 22 were pending. The pending ratio was 56%. The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. So what was the hottest price range? That would be the $300,000 to $400,00 price range.
6 months housing snapshot
227 homes sold in the last six months. On average, homes sold for 100% of the asking price with .4 month’s inventory. A balanced market between buyers and sellers is 6 months inventory. Sold home prices ranged from a low of $289,000 to a high of $1,240,000.00. The lowest-priced home for sale in PebbleCreek was $362,000. The average number of days on the market was 36 during the last 6 months. On average, homes sold for 100% of the asking price. Keep in mind some homes sold for more and some less. The condition of the home and location compared to similar homes are always key factors.
For more information and a downloadable report about the housing market in PebbleCreek, please refer to the market report below. For the purposes of this report, active listings are homes that are not under contract taking backup offers (UCB). In our post Covid19 market, those listings, for all intensive, purposes are pending. And, yes, most likely sold.