Single family homes sales in the Pinetop Lakes/Pinetop Country Club area increased by 12% last year compared to 2014. Sales volume went from $28.9M to $32.7M and the number of homes sold went from 106 to 119.
While the volume of homes increased, the average price of the homes sold was unchanged from 2014. The average price started out higher, but it decreased during the 2nd half of the year. In the spring of 2014 the number of homes for sale was low, but by mid-summer the number had increased to a point that it became more of a buyer’s market.
In the Pinetop Lakes/Pinetop Country Club area there was a total of 346 active listings last year. However, there were only 119 sold, and at this time there are only 68 active listings. The remainder of the homes that didn’t sell were either taken off the market or the listings expired. It’s probably safe to assume that most of these homeowners still want to sell their homes and will probably put them back on the market sometime before summer.
The current inventory of homes for sale in the Country Club area is extremely low. There were about 4 times more homes for sale last summer than there are now, and in all of the Pinetop Lakes subdivisions there are only 20 homes for sale.
If you are considering selling your home this year, now is the time to start the process. Don’t wait until summer when the inventory has already increased. Take advantage of the limited competition and contact us now for a free, no obligation, market analysis of your home.