Happy Birthday, America! We just LOVE the 4th of July in Fountain Hills. The fireworks over our world-famous fountain are just spectacular! Mark your calendars, so you don’t forget the 4th at the Fountain on July 1! We are such a patriotic town, and we just love celebrating our country and our freedom!
We wanted to take a moment to tell you about our donation room. With inflation so high right now, many families are struggling for basic needs. As a way to give back, we have started an apparel donation room at our offices on Avenue of the Fountains. Stop by on Tuesdays or Thursdays, from 11 AM-3 PM, to “shop” or to drop off your own apparel donations. We are a community that cares for each other, and we are proud to be part of Fountain Hills!
We are seeing the impact of higher mortgage rates and sky-high inflation in the Fountain Hills real estate market. According to Cromford, average price per square foot is a good indicator of slowing sales. The first stat to be impacted is the average prices per square foot on active listings. As of June 15, it was $425.23/sqft, which was down from a high of $431.85/sqft in May 2022.
The last stat to change is the closed sales per square foot, because many of those homes went under contract a month or two ago when the market was still driving upward. The under-contract price per square foot and the sales per square foot were up as of June 15, but we expect that to change as we head into July and August.
As you can imagine, this can be a disconcerting change of circumstances for sellers, and even buyers are wary due to uncertainty around interest rates. That is where our expertise can help you navigate this market and ensure an optimal outcome. We’d love to help!
Want a peek at our July Newsletter? Click here to access an online version!
Happy Independence Day! Blessings to you and your family!
Karen
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If you are thinking about buying or selling a home, we are here to help! Susan Pellegrini and Karen DeGeorge are ready to put their care and expertise to work for you. Buying or selling, our first-class service comes with a wealth of experience and eye for detail, ready to focus on you. Visit our website to learn more and contact us or give us a call at (480)- 315-1575, we’re here for you.
