The number of 2016 Desert Ridge homes sold was 466 which was 32 more sold homes than total Desert Ridge home sales during 2015. Active Desert Ridge homes for sale listing inventory still remains low for the fifth consecutive year.
In comparison to Desert Ridge homes sold in 2015, 2016 Desert Ridge homes sold averaged in sale price, approximately 2.7% higher which was the same growth we saw in 2015 over year 2014. Additionally, inventory levels remain relatively low and we are now a good seven years out from our 2009 lows. Desert Ridge schools such as Fireside Elementary, Wildfire Elementary, Desert Trails Elementary, Explorer Middle and Pinnacle High help to keep family demand for Desert Ridge housing higher. The number of multi-family rental units in Desert Ridge is increasing at a somewhat steady rate and should continue to grow, hopefully easing the rental market pricing. Also, High Street at Desert Ridge and the Desert Ridge Marketplace continue to be the main driver for Phoenix home buying interest.
The Desert Ridge homes sold that we have included in our annual sales numbers still includes the residential real estate between Pinnacle Peak Road on the north side and the Loop 101 on the south side with the eastern border being 56th Street. Now, with Black Mountain Parkway driving new development like Sanctuary at Desert Ridge by Taylor Morrison, we believe we will see more new home construction commence.
2016 Desert Ridge Homes Sold Details
Of the 466 Desert Ridge home sales for 2016, 331 were single family detached Desert Ridge properties and the remaining 135 were Desert Ridge condominiums and Desert Ridge townhomes. Below are general Desert Ridge home sales numbers for the year of 2016:
Homes Closed: 466
Average List Price ($/SF): $196.77
Average Sale Price ($/SF): $192.18
Average Days on Market: 93
Click here to view details for Desert Ridge home sales during the year of 2016.