In this San Tan Valley Market Report, we are taking a look back at 2014 to see the local market conditions and trends leading into 2015. If you are thinking of selling your San Tan Valley, AZ home or buying a home in San Tan Valley, these metrics will help in providing clarity on whether now is a good time to buy or sell. Photo by Internet Archive Book Images.
Some notable communities in San Tan Valley, Arizona include: Johnson Ranch, Pecan Creek, Ironwood Crossing, Circle Cross Ranch, Cambria, Castlegate, Copper Basin, Encanterra Country Club, Laredo Ranch, Morning Sun Farms, San Tan Heights, Skyline Ranch, and Wayne Ranch.
San Tan Valley Market Report for 2015:
Number of Homes Sold
Here’s a quick graph that outlines the number of home sales that occurred in each month in San Tan Valley, AZ. Hover over any of the dots on the line graph to get the exact number of sales for the given month.
As you can see from the above graph, sales were very slow in January
, started picking up in February, and then shot up in March
where it remained steady for a good chunk of the year, even through July (the hottest month of the year!). Another surprise were the number of sales in December
, normally a slow month of the year, but as it turned out, more homes sold in December than four of the other months in the year. In 2014, the average number of sales per month was 147.
Average & Median Price / SQFT
The graph below shows you both the average price-per-square-foot and the median trend line for San Tan Valley, Arizona. The blue line is the average price/sqft and the red line is the median price/sqft. The median values are used here to help normalize any spikes (up or down) that sometimes occur averages.
The overall average for the year
in San Tan Valley was $83.95/sqft
, and as you can see, the values stayed in the $80′s all year except in January where the average dipped down to $79.14/sqft. If you have a home in San Tan Valley that you are considering selling, you can safely multiply the square-footage of your home by $83.95
to get a ballpark estimate of what your San Tan Valley home is worth. Keep in mind, this does not account for upgrades, renovations, pool, etc. that your home might have. To get a precise value on your home, contact us to request a customized home valuation
. While the average price-per-square-foot remained steady in the $80′s all year, it is worth noting the highest single value
we saw in 2014 was $279.84/sqft, and the lowest single value
Average & Median Sales Price
Here is how the average sales price looked in San Tan Valley last year, and how it compared with the median sales price (red line).
The overall average sales price in San Tan Valley was $170,597. The average sales price trend is moving up
, with a particularly big jump in the last quarter of the year (October, November, December), which is a bit unusual for that time of year. The most expensive home sold in San Tan Valley during 2014 went for $640,000
, and the most inexpensive home sold for $37,000.
Average Days on Market
The bar chart below represents the average Days on Market for each month of the year last year. The overall average for the entire year was 75 days on market.
As you can see, for the first 4-months, homes were selling at a slower pace than the rest of the year, with a minimum DOM of 79 days and maxing out at 86 in January. But once May rolled around, the average DOM dropped significantly by 11-days, and stayed below 80 for the remainder of the year
. If you are thinking about selling your San Tan Valley home in 2015, it is worth noting that it may take upwards of 2.5 months before your home sells. That’s not to say it cannot sell in 1-day, and the trend is a declining trend (which is a good thing)
, but the average for the whole year was 75 days, and even during the last quarter of the year, the average was still at 72. A declining DOM and an increasing average sales price are both very good for home sellers
heading into 2015, but it is also a good idea to correctly set expectations.
Thinking about buying or selling your San Tan Valley Home?