{"id":63,"date":"2006-04-05T08:11:00","date_gmt":"2006-04-05T15:11:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=63"},"modified":"2006-04-05T08:11:00","modified_gmt":"2006-04-05T15:11:00","slug":"market-basket-of-homes-values-up-197-in-march","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/63\/market-basket-of-homes-values-up-197-in-march\/","title":{"rendered":"Market-Basket of Homes: Values up 1.97% in March"},"content":{"rendered":"

Home values were up a substantial 1.97% in the March 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices were up more than $5,000, from $260,645 in February to $265,778 in March. Values are still down slightly more than $4,000 from the December 2004 high of $269,875. Market-Basket homes spent an average of 62 days on market, up four days from February.<\/p>\n

The month’s activity was actually stronger than the raw numbers indicate, with many homes selling at or above list price. A few deeply-discounted properties pulled down the average, but average discounting netted out to only 1.37%, down from 1.42% in February.<\/p>\n

A total of 189 Market-Basket homes were sold in March, up from 145 in February. As noted in January and February, the early months of 2006 very strongly resemble the first quarter of 2004. The one significant difference is that overall inventories are substantially higher. For example, there are now 1,209 homes available for sale in the Market-Basket, which would imply an absorption rate of 6.4 months. A six-month absorption rate is considered normal.<\/p>\n

“If the Spring selling season is everything it should be,” said BloodhoundRealty.com Broker Greg Swann, “then we have no problem. Right now there seem to be a lot more sellers than buyers, and the religious holidays in April could slow things down. But if the market heats up with the weather, we should be fine.”<\/p>\n

Based on the idea of the Consumer Price Index market-basket of goods and services, the Market-Basket of Homes uses average sales prices for a small subset of all Valley home sales to get a clearer idea of what is happening in the middle of the bell curve. The alternative method, striking a median among all closed transactions, introduces too many extraneous factors to provide a reliable indicator of what is happening to prices for those homes that are most avidly desired by the greatest number of people. To that end, the Market-Basket of Homes looks at sales prices for MLS-listed suburban homes from 1300sf to 1900sf built in 1998 or later, the homes that drive the resale market.<\/p>\n

The BloodhoundRealty.com Market-Basket of Homes is updated Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Home values were up a substantial 1.97% in the March 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices were up more than $5,000, from $260,645 in February to $265,778 in March. Values are still down slightly more than $4,000 from the December 2004 high of $269,875. Market-Basket homes spent an average of 62 days on […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-63","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":58,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/58\/down-but-not-for-the-count\/","url_meta":{"origin":63,"position":0},"title":"Down but not for the count…","author":"Odysseus","date":"March 3, 2006","format":false,"excerpt":"From The BloodhoundRealty.com Market-Basket of Homes for February: \"Home values are down for the second month in a row in the February 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices dropped by 1.14%, just under $3,000, from $263,638 to $260,645. The weakness was felt mostly at the higher end of\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":175,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/175\/market-basket-of-homes-values-down-183-on-slow-sales\/","url_meta":{"origin":63,"position":1},"title":"Market-Basket of Homes: Values down 1.83% on slow sales","author":"Greg Swann","date":"August 5, 2006","format":false,"excerpt":"Market-Basket of Homes: Values down 1.83% on slow sales The July BloodhoundRealty.com Market-Basket of Homes is available. Prices down, sales volumes down, but -- interestingly -- inventory is down. Make of it what you will:This fall in Valley schools, the faces of the teachers may change, but the kids may\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/59\/another-news-drought\/","url_meta":{"origin":63,"position":2},"title":"Another news drought?","author":"Odysseus","date":"March 19, 2006","format":false,"excerpt":"Catherine Reagor in the Arizona Republic asks, \"Another price dip?\":Valley resales figures for February are due out this week. And early analysis from Arizona State University's Real Estate Center shows the median price might have dipped slightly again. In January the median price of all resales was $257,000. They hit\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":302,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/302\/august-2006-market-basket-of-homes-values-up-25-on-stronger-sales\/","url_meta":{"origin":63,"position":3},"title":"August 2006 Market-Basket of Homes: Values up .25% on stronger sales . . .","author":"Greg Swann","date":"September 8, 2006","format":false,"excerpt":"Is the Metropolitan Phoenix real estate market starting to recover? Too soon to say, but prices edged up slightly on sales that were stronger -- even if they are still slow -- in the August edition of the BloodhoundRealty.com Market-Basket of Homes. Average prices for Market Basket homes in August\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/71\/market-basket-of-homes-values-up-033-in-june\/","url_meta":{"origin":63,"position":4},"title":"Market-Basket of Homes: Values up 0.33% in June","author":"Greg Swann","date":"July 6, 2006","format":false,"excerpt":"Is there light at the end of the tunnel? Home values were up slightly, by 0.33%, in the June 2006 BloodhoundRealty.com Market-Basket of Homes. Average sales prices were up $851, from 257,148 in May to 257,999 in June. Nevertheless, values are down $11,876 from the December 2005 high of $269,875.\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":512,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/512\/august-2006-bloodhoundrealtycom-market-basket-of-homes-values-down-015-on-normal-sales\/","url_meta":{"origin":63,"position":5},"title":"September 2006 BloodhoundRealty.com Market-Basket of Homes: Values down 0.15% on normal sales . . .","author":"Greg Swann","date":"October 5, 2006","format":false,"excerpt":"The Phoenix-area's real estate market seems to be continuing its slow trek back to normalcy. Home prices were essentially unchanged on a fairly strong volume of sales in the September edition of the BloodhoundRealty.com Market-Basket of Homes. Average prices for Market Basket homes in September were down 0.15%, compared to\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/63","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=63"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/63\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=63"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=63"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=63"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}