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Looking for a Glimmer of Hope?

Pay attention sellers… this is what you’ve been waiting for! A glimmer of hope in the media storm of doom and gloom…

The average price per square foot of active listings in Casa Grande has actually trended upward for the past 4 months by a total of $7 from June to September!
Now all the pessimists will say, but look at pending sales and closed sales… Why yes, let’s go ahead and take a look at those numbers also. While the pending and closed sales’ average price per square foot has risen as dramatically, realize it’s also a month+ behind the curve. The average price per square foot has increased by $3 for pending sales and I estimate that at the end of October, we’ll see a rise in the closed sales figures also. If active listings are rising, typically pending and closed sales will follow suit. Try spotting the trends in the graph below…

Click on the graph for a larger view.

You’re probably saying to yourself, ‘But channel so-and-so said that we’re headed for 3 more years of record breaking foreclosures’… Maybe in some parts of the country where the downturn hit later, but in Arizona we’re seeing signs of recovery in many places – especially the areas that were hit hardest and fastest.

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