For those of you interested in which properties sold in 2010, take a look at the map to the right. You should see Chateau De Vie Six with a few highlighted units (green). Click on the green text to find out more information about that property.
Sold Properties in 2010
We had 5 units sell last year through the Arizona MLS.
Average Sale Price: $132,000 with a low of $108,000 and a high of $145,000.
Average Price Per Square Foot: $86.23 with a low of $74.88 and a high of $101.68.
Average Days On Market: 73 with a low of 3 and a high of 120.
Of the 5 properties that were recorded, 1 was owned by the bank, one required short sale approval, and the remaining 3 were normal non-distressed sales.
Currently Active Properties
There are currently 4 properties for sale, which makes up 3% of the community.
One of those properties, 5843 N. 83rd, is under contract as of October 4th, 2010 and is currently awaiting short sale approval. It was originally on the market in May of 2010 at a list price of $129,000 ($85.46/foot.) The remaining are still awaiting a contract.
Average Asking Price: $153,837 with a low of $113,110, and a high of $199,900.
Average Asking Price Per Square Foot: $90.20 with a low of $69.27 and a high of $113.77.
Average Days On Market: 84 with a low of 15 and a high of 181.
You’ll probably be able to gather that $113.77 is a bit high for our community, however, the trimmings in the highest priced property are quite nice. I don’t think they’re worth $200,000 considering what you can buy in the rest of the valley for $200,000.
I still don’t own a crystal ball…
No matter how long I’ve lived in the valley, nor how long I’ve been working numbers in the real estate market, there is still no way to determine what’s going to happen next. What we do know is that the real estate market is cyclical, and right now, we are in as unique of a situation as it gets. Lots of inventory, multiple offers on bank owned homes, low interest rates, etc. Add this up and apply the laws of supply and demand, and we can easily see prices dipping even more.
The good news about that is that even though prices may still fall, the market will rebound, and investing long-term is still a viable way to enrich your family tree. Build wealth for the future now. It’s extremely affordable to own real estate in the valley right now.
Jon Griffith
If you enjoyed this article, please consider sharing it!
Hi, do you ever post anything about Chateau DeVie V?
Pat, home owner in V
Pat, since I’m not a member of Chateau de Vie V, I don’t have access to HOA
information, but I am in touch with the real estate market and could give
you a run-down on the conditions of your sub-division too! Just le me know.
Jon Griffith | REALTOR®
(602) 312-3262 T
(602) 535-3848 F
http://www.RealScottsdaleLiving.com
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I love looking at luxury properties, and every once in a while I poke around
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Chateau de Vie Homes
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HomeSmart Real Estate
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I don’t just _list_ short sales. I _close_ them. Ask me how today.
Jon’s [10]Pick of the Week
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Historic homes in the Coronado District offer charm that is unparalleled in
any other part of the valley for the price. This week’s pick is a
wonderfully remodeled 3 Bedroom, 2 Bath single family home on 11th Street.
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