The see-saw pattern of rising prices and slipping sales in Arrowhead Woods was true to form in November. The best news for 2015 is an inventory of 324 homes. A year ago we had nearly 100 fewer homes. A growing inventory in 2014 and holding up well through November is likely a reflection of mild Fall weather and greater confidence on the part of Arrowhead Woods homeowners.
Noteworthy is the year to date sales of homes $100,000 to $499,999 declining to 256 sales in 2014 from 325 sales for eleven months in 2013. We have dropped to near zero in bank and short sales which was as high as 25% of our annual sales when the bubble burst. That listing decline hit hardest for homes under $500,000. Sales and prices of homes above $500,000 are relatively unchanged from year to year.
The universal number for home value, price per square foot, is up 5.4% in 2014, though less exciting, it is a more comfortable way to look to future value growth.