Dynamite Mountain Ranch Market Update - March 2008
March 15, 2008
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| There are currently 47 active properties for sale in the Phoenix subdivision of Dynamite Mountain Ranch. My last update was in November, when there were 66 homes on the market, so this is a welcome decline. The average asking price per square foot for all 47 properties is $143/sq foot, which is down from $152/sq foot in November, continuing the trend toward lower asking prices. The average property in Dynamite Mountain Ranch has been on the market for 147 days. |
| Size Range | Price/Square Foot | Number of Homes |
| under 2000 sq ft | $156/sq ft | 14 |
| 2000-2500 sq ft | $135/sq ft | 21 |
| 2500+ sq ft | $145/sq ft | 12 |
*data as of 3/15/2008, via ARMLS
As of today, 5 properties are in a sale pending status:
| Address | Size | Model | Asking Price | Price/sq foot |
| 2344 W White Feather | 1558 | Carmel | $199,888 | $128/sq foot |
| 2331 W Running Deer | 1558 | Carmel | $215,000 | $138/sq foot |
| 28041 N Via Dona | 2296 | Cape Cod | $249,999 | $109/sq foot |
| 28617 N 21st Ln | 2045 | Prescott | $250,000 | $122/sq foot |
| 2532 W Straight Arrow | 2192 | Cape Cod | $253,900 | $116/sq foot |
*data as of 3/15/2008, via ARMLS
In February, 2 properties closed escrow:
| Address | Size | Model | Sale Price | Price/sq foot |
| 29126 N 22nd Ln | 3006 | Cunningham | $325,000 | $108/sq foot |
| 2038 W Duane | 4233 | Valencia | $433,104 | $102/sq foot |
*data as of 3/15/2008, via ARMLS
One final stat, in the month of February, 10 homes were taken off the market, due to cancellation or expiration, with an average asking price of $148/sq foot.
The trend toward inventory levels shrinking is a good trend. Also, although February’s closure rate wasn’t very good, the number of homes in pending implies that Dynamite Mountain Ranch has roughly 12 months worth of supply, which is better than Greater Phoenix at 16+ months of supply .
