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True Arcadia Real Estate

Some interesting statistics regarding “True Arcadia” Real Estate
(True Arcadia defined as: 44th Street East to 68th Street, Indian School North to Camelback)

At The Marsh Partners, we are passionate about the markets that we work in and focus on. One of those particular markets is the Arcadia neighborhood. This area is a highly sought after neighborhood for various reasons including being a family friendly neighborhood, great public school district, ambiance of the streets, beautiful homes, and a prime location to Scottsdale and Phoenix.

While preparing some data for a prospective buyer in the Arcadia area, I came across some interesting data that I would like to share with you. I think this information gives us great perspective on the current real estate market. The data below shows us that there has been both a substantial increase in closings (increase of 27) this year compared to last year, as well as an increase in average price per square foot (increase of $26.09). These along with the ‘Days on Market’ averages (decrease of 55 days) prove that the market is being pushed in a healthier direction, and that low inventory levels continue to drive prices and absorption rates in positive directions.

Period Starting January 1, 2012 and ending July 10, 2012

Closed: 75
Price per Square Foot (closings): $260.44
Days on Market (average for closings): 70

Period Starting January 1, 2011 and ending July 10, 2011

Closed: 48
Price per Square Foot (closings): $234.35
Days on Market (average for closings): 125

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