The Encanterra Real Estate Market has undergone notable changes between November 2022 and November 2023, painting a dynamic picture of the Real Estate landscape in this picturesque Arizona community.
Active Listings
In November 2022, there were 41 active listings in Encanterra, and only 1 pending listing. Fast forward to November 2023, and the number of active listings increased to 45, with a substantial surge in pending listings, reaching 9. This significant rise in pending listings suggests a heightened demand in the market, with more properties in the process of being sold. The increase in active listings, coupled with a notable rise in pending transactions, indicates a robust real estate environment with both buyers and sellers actively engaged.
Total Listings Sold
The total number of listings sold in Encanterra experienced a slight decrease from 7 in November 2022 to 5 in November 2023. While this reduction may raise initial concerns, it’s essential to consider the concurrent increase in pending listings, which may lead to a subsequent rise in completed transactions in the coming months.
Average Sales Price in Encanterra
The average sales price in Encanterra displayed a significant shift from $892,843 in November 2022 to $781,400 in November 2023. This decline suggests a potential market adjustment, providing opportunities for buyers to enter the market or negotiate favorable terms. Sellers may need to be strategic in their pricing strategies to align with current market conditions.
Sale-to-List Price Ratio
The sale-to-list price ratio increased from 97% in November 2022 to 100.1% in November 2023. This uptick indicates a market where properties are selling for more than their listed prices, pointing towards a robust seller’s market. Sellers can leverage this trend to optimize their returns on property sales.
See the market report details in the slides below. All data directly from the MLS.
In summary, the Encanterra Real Estate Market is characterized by an increased number of active listings, a surge in pending transactions, and a shift in average sales prices. While the total listings sold slightly decreased, the rise in pending listings suggests a potential rebound in completed transactions. Sellers can capitalize on the strong sale-to-list price ratio, while buyers may find favorable conditions in the adjusted average sales prices. As we closely monitor these trends, potential buyers and sellers are encouraged to stay informed. For expert guidance and support in navigating the evolving Encanterra Real Estate Market, feel free to contact us at SHEA PREFERRED REALTY GROUP.
Stay tuned next month for further insights into market changes in Encanterra.
