Wednesday, November 7, 2012

AZ Home Building Trends Boost Fountain Hills Home Values

The drought is over for new home construction in Arizona! According to, new home construction in the greater Phoenix-Scottsdale area is up by 66% compared to last year. Builders have raised their new home asking prices by an average of $15,000 during a six-month period in 2012.

The strength in home building activity is good news for area employment, which has experienced a 5% gain in construction jobs during 2012, according to the Phoenix Business Journal. In turn, these jobs help boost our local economy, spurring car sales, retail purchases, and generating spending on dining and entertainment.

But what does new construction mean for home sellers in Fountain Hills? Is there any cause for concern when Arizona home buyers can choose between new construction and an existing home for sale?

Here's the good news: aside from the local economic benefits, new home construction also tends to boost overall home values in the area. This is because home appraisers are looking at the most recent sales in a given area for like-kind properties. It's certainly preferable to have your home compared to newly-built homes on the market, instead of compared to foreclosure sales.

In fact, the median list price for a Fountain Hills home is averaging $364,000, which is 33% higher than a year ago. The median sales price for a Fountain Hills home is $315,000, which is 49% higher than last year. Nothing to sneeze at!

While it's true that home buyers can be attracted to a newly-built home for the bells and whistles, an existing home that is well-maintained in a good location has nothing to fear. Location is often the biggest factor in a home buyer's decision. You simply can't replace some of our beautiful homes in Fountain Hills at today's construction costs! This is just one reason why expert real estate marketing makes the difference when you are selling your Fountain Hills home!

If you are thinking of selling your home, contact me for more information about our Fountain Hills real estate market. I can show you the latest sales trends in your neighborhood, and give you direction regarding the price and sales strategies that would best apply to your home. Because I have over 33 years of real estate experience, I can help you succeed no matter the season, or the market conditions!

1 comment:

  1. Are you selling a new home building? Can I see them? Because I'm interested in your offer. I'm hoping that your houses was not expensive. Thank you so much for sharing this one.

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