This past summer I posted the article “Summer Sizzles, Season Fizzles” referring to the fact that our snowbird real estate selling season here in Gainey (Jan-Apr) had been somewhat disappointing. Now that 2014 is over, let’s look back and see if my summer article was correct.
First of all, and most telling, we had only 48 MLS sales for the year (MLS being of course our Multiple Listing Service). In addition, there were 5 private transactions making a total of 53 real estate deals for the year. This compares to 85 deals for 2013 . . . ouch! . . . only half as many! Going into 2014, the Ranch had an average $’s per square foot selling price of $285. At the end of 2014 we had a $’s per square foot average of $287 . . . you can’t get much flatter than that! The average “days on market” for 2013 was 136 days. As we left 2014, our average days on market was 121 . . . almost no change. So the 2014 real estate season in Gainey was basically bland, very bland! The same was true for Scottsdale as a whole.
OK, we’re hoping for more action in 2015. What should we expect? Check your crystal ball and give me a call. The Canadians are here but not buying . . . their dollar is down 15%. But interest rates are below 4% again (who would have thought!). Does this even matter in Gainey . . . everyone seems to just use cash! And the stock market is still on the way up (but it feels like a big crap-shoot) so why not put your money in real estate?
We’ll all see what happens as the season progresses. To check out all the 2014 Gainey Ranch sales, just go to my website www.GaineyRanchProperties.com and click on the “Sales Activity” tab.