Welcome to Real Trends in Las Campanas Real Estate! Our intent with this newsletter is to provide you with the most current and in-depth information about sales in Las Campanas, allowing you to make highly informed decisions when you are ready to buy or sell.
We are both delighted to have teamed up to bring you unmatched real estate service and knowledge of our local market. Our professional history and friendship go back 30+ years, including working closely together for many years on the Las Campanas Realty sales team. We are available to answer any questions you have or to meet and discuss the market in more detail.
Data below compares October 2021 to October 2022. The result shows a concise picture of the current market, year over year, during these times of market adjustment. Month of October Year-over-Year (all expressions are Median Averages)DAYS ON MARKET October 2021 4 October 2022 64
Homes are staying on the market an average of 16 times longerMEDIAN LIST PRICES October 2021 $1.750M October 2022 $1.735M
Reflects only a slightly lower average list price from last yearACTIVE LISTINGS October 2021 42 October 2022 51
Showing a 17.6% increase in active listings in the current yearMEDIAN CLOSED PRICES October 2021 $1.425M October 2022 $2.115M
The 2022 October average closed price is the highest monthly sales price ever recorded in Las Campanas. The obvious conclusion would be that buyer’s recent choices would be for more expensive product and that there were fewer lower end homes on the market. LIST PRICE VS. SALES PRICE October 2021 List $1.550M October 2021 Sale $1.500M
October 2022 List $1.975M October 2022 Sale $1.775M
While 2021 reflects a 3.2% difference of homes being sold under the asking prices, the 2022 disparity between list prices to sold prices is much greater at 10.1%MONTHS OF INVENTORY October 2021 5 mos. October 2022 7 mos.
This reflects a 28.6% increase in time in order to absorb inventory levels on the market
Our market is obviously adjusting downwards in an attempt to adjust to current conditions. It will be interesting to see if next month’s numbers reflect a further downtrend or tend to stabilize. Those who wish to list their properties would be well advised to keep this trend in mind while pricing their homes if they wish to achieve reasonable time frames to sell.
Data below compares October 2021 to October 2022. The result shows a concise picture of the current market, year over year, during these times of market adjustment. Month of October Year-over-Year