What a weekend for the Valley. We have great weather, the Final Four is here with all it’s affiliated concerts and events, the Coyotes are hosting the Capitals, and opening day for the Diamondbacks is Sunday. Jeesh! If you can’t have fun in this town, you’re just not trying!
Terravita had a good month with 13 homes going under contract in the month of March. Historically, that number is actually a bit low. The five year average for March is 16 homes under contract, but I think in our new normal, with lots of new home competition, 13 is a good number. That should keep Terravita on track for a year much like last year with just about one hundred sales for the year. So things are looking good locally.
Nationally, there is also much to be optimistic about. The economy looks strong as March saw consumer confidence surge to a 16+ year high, and the GDP grew over 2% in the first quarter. The housing market saw pending sales up well over last year’s numbers, and home prices jumped to their highest levels in 3 years.
When you consider all the info above, if you own real estate in Terravita, there is a lot to feel great about. Now if you can avoid any April Fool’s Jokes today . . .
By the way, for all of you pet lovers, Trulia has recently launched listings for your pets! Your pets will now have access to an online directory of “Rental Pawperties” for dog houses! Check out the full story here: Trulia Pets
Here are the March 2017 Terravita Real Estate Market Statistics: