March 2014 home prices are up sharply, hitting a median of $346,500. In the past three months, prices have risen 8%, an unsustainable growth rate, but a strong confirmation of recovery here in Arrowhead Woods. Sales were down 14% in the first quarter from a year ago, likely due to low inventory, 279 home listings now, about 100 short of normal, what buyers expect to see.
Arrowhead Woods 1st quarter prices in 2014 increased 2.6% over the same quarter in 2013. As of March 2014, we now match 2004 that had a median of $349,000. Arrowhead Woods is 28% off the peak of 2006 at $480,000.