We missed last month due to the holiday, but wanted to provide our readers with an update. Here is our Gainey Ranch market update for December 2019.
As of December 20, 2019, there are 18 active listings in Gainey Ranch, 10 pending sales and there have been 10 sales since November 1, 2019. As expected, sales activity has picked up since our last report.
For the active listings, the average days on market (ADOM) is 95 and for pending sales the ADOM is 144. What sellers most want to know is how long it will take their home to sell–since 11/1, the closed sales were on market an average of 71 days. To see how Gainey Ranch compares to the rest of the 85258 zip code, view the graphic below:
According to the Arizona Regional Multiple Listing Service, there is a one month supply of homes in 85258 priced from $300K to $500K and a 2.13 month supply for homes priced from $500K to $700K–as the price goes up, so does the months’ supply.
We expect activity to slow down as we approach the holidays and it should pick up again by mid-January. 2020 is an election year so things could change towards the end of the year–for now though, predictions are that 2020 will be another good year in Arizona in terms of real estate activity.