SPECIAL REPORT 2012 2013 2014 we had last year at this point. Distressed properties are no longer a significant part of our market. Nearly 98% of ac-tive listings are normal with 57 short sales and 20 lender-owned properties. The fastest rising price ranges were between $600,000 and $800,000 (up 18% in the last month) and between $800,000 and $1 million (up 13%). In contrast, the supply of homes between $2 million and $3 million remained stable. Overall we are seeing a significant increase in the number of new listings Demand There were 278 closed transactions though the Arizona Regional Multiple Listing Service during February 2016, up 21% from January and up 32% from Feb-ruary 2015. This was the highest sales to-tal for February since 2007. However, the majority of this increase was in the price range between $500,000 and $1 million (up 81%) compared with a year earlier while $1.5 million to $2 million was un-usually weak (down 15%). Sales counts were also down between $2 million and $3 million but only by 5%. Although sta-tistics will tell you that sales above $3 mil-lion were up by 50%, a closer look at the numbers reveals that sales rose from 6 units to 9. True, it is an increase of 50% and is a move in a positive direction, but an increase of 3 additional homes falls well short of creating a trend. Under Contract We can anticipate future sales by looking at homes under contract. The number of listings under contract was 522 as of March 1, which is up 25% from last month and up 17% from March 1, 2015. This is a positive sign and every price range is up from last year with the $500,000 to $1 mil-lion price range leading the way. Nor-mal sales comprise 94% of luxury homes in escrow, up from 93% 12 months ago. NUMBER OF LISTINGS BY STATUS FOR THE LAST TWO YEARS Active Sold 400 300 200 100 0 Sep-15 Oct-15 Nov-15 Paradise Valley Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 2000 1500 1000 500 0 Scottsdale Sep-15 Oct-15 Nov-15 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-15 Jul-15 Feb-15 120 100 80 60 40 20 0 Sep-15 Oct-15 Nov-15 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-15 Jul-15 Feb-15 140 120 100 80 60 40 20 0 Sep-15 Oct-15 Nov-15 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Aug-15 Jul-15 Feb-15 Biltmore Mar-15 Apr-15 Jun-15 May-15 Mar-15 Apr-15 Jun-15 May-15 Mar-15 Apr-15 Jun-15 May-15 Mar-15 Apr-15 Jun-15 May-15 Aug-15 Jul-15 Dec-15 Jan-16 Feb-16 Dec-15 Jan-16 Feb-16 Dec-15 Jan-16 Feb-16 Dec-15 Jan-16 Feb-16 Arcadia
Danley Portfolio - Spring 2016
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