SPECIAL REPORT 2012 2013 2014 number of homes on the market will start to drop off as we get closer to summer. This is the typical cycle for luxury homes in the area. The num-ber of distressed listings remained low throughout February, with normal list-ings making up 98 percent of the to-tal. There were 63 short sales and 13 lender-owned homes on the market at the end of February. Though these numbers haven’t moved much in the past six months, they are evidence of a still-healthy market. Demand We predicted that sales in 2015 would be slightly better than in 2014. So far, that prediction holds true. Janu-ary 2015 also saw an increase of 20 closed listings, or eight percent, from January 2014, while February also saw a small year-over-year increase. The $2,000,000 and $3,000,000 seg-ment had an especially strong Febru-ary with a remarkable 21 sales. How-ever, there were fewer closed listings than expected in the lower end of the luxury market. There was also a larger number of homes under contract than we saw at the beginning of March last year, a good sign for future sales. As of March 1, 2015, there were 448 listings under contract, compared to the 407 on March 1, 2014. Sales Pricing As of February, the 12-month moving average had risen from its lows of $219 per square foot to $266 per square foot, an increase of 21 percent. That average remained the same from November of last year to January NUMBER OF LISTINGS BY STATUS FOR THE LAST TWO YEARS Active Sold 400 300 200 100 0 Paradise Valley Mar-13 Apr-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-13 Jul-13 Feb-15 Jun-13 May-13 2000 1500 1000 500 0 Scottsdale Mar-13 Apr-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-13 Jul-13 Feb-15 Jun-13 May-13 120 100 80 60 40 20 0 Biltmore Mar-13 Apr-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-13 Jul-13 Feb-15 Jun-13 May-13 140 120 100 80 60 40 20 0 Arcadia Mar-13 Apr-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-13 Jul-13 Feb-15 Jun-13 May-13
Danley Portfolio - Spring 2015
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