This Rhodes Ranch Area resale market report was generated on October 5, 2008 (graph on bottom):
- Active Listings: 410
- Under Contract: 128
- Sold 8/27-9/27/2008: 79
- Months Inventory: 5.2
- Low: $69900; High: $3,490,000; Median: $199900(listing prices only)
Rental Market Report generated on October 5, 2008 (graph on top):
- Active Listings: 93
Under Contract: 15 - Leased 8/27-9/27/2008: 61
- Months Inventory: 1.5
Median List Price for an area rental: $1395/month, Low: $850, High: $5000
Note: The resale market is losing steam and swinging back into a balanced market. The rental market has gained some ground with a lower absorption rate since the last report.
Information from GLVAR is deemed reliable but not guaranteed.
Last Market Report Generated August 16, 2008
Includes: Apache Hills, Apache Springs (The Falls), Astoria Homes at Rhodes Ranch
(Independence), Canyon Trail, Huntington, Liberty @ Warm Springs, Maplewood, Rhodes
Ranch, Richmond@ Rhodes Ranch, Sierra Madre, Venezia, Vistana.
For More information on the Rhodes Ranch Area: http://www.livingatrhodesranch.com/
If you would like to buy, rent or sell a home in the Rhodes Ranch Area, please call 702-966-2494. Press 1 if you would like to buy, press 2 if you would like to rent, press 0 if you would like to sell!
Renee I love your market reports with all these excellent graphs! BTW - You can be a student in my class anytime:)
I love the photos graphs, but the hot air balloon ROCKS!!
Looks like a very stable market to me. 5 months supply??? Goodness.
Renee, it's phenomonal to have supply in the area down to five months!
Mike in Tucson
Bill: :wink:
Katrina: Thanks, took that one early morning while doing BPOs. Couldn't resist the photo op!! We see these constantly. In fact 4 balloons landed one day right in back of our house when there was nothing but desert behind us! I was just happy it wasn't the competitor's balloon so I could use it for my marketing :)
Lenn: up from 4 something months. I am EXTREMELY worried about this situation because pendings have cut in half since my last report. This area quickly swung into a seller's market and now it looks like it could quickly swing into a buyer's market. The market is volatile as you know!
Mike: It is great :) See my response to Lenn. I am a little worried with pending numbers.
some good news for Pending home sales - they rose 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market and most improvement was in Vegas and Nevada
Hi Renee - Great job on RR reports. How is the rental market there? I have a few investors and it looks like inventory is declining - which is a good thing. I love the neighborhood.