Originally posted on Aug 29, 2013.
So far in 2013 total sales for single family homes in the Pinetop Lakes/Pinetop Country Club area are down about 6.7% compared to the same period last year, but the average price of the homes sold was up 5.2%.
Sales volume in the Country Club area was down from $12.9M in 2012 to $12M in 2013, and the number of homes sold went from 44 to 39. The average price of the homes sold this year was $307,597, compared to $292,261 for the same period last year.
These numbers indicate that home prices are fairly stable and up slightly, especially if you consider that prices were up about 2% in 2012 compared to 2011.
The number of homes for sale in the Pinetop Lakes subdivisions is about 13% less than there were at this time last year. The lower inventory should help to increase home prices.
Here’s how neighboring areas did in 2012:
Pinetop (excluding the Country Club)
Total Sales: -27%
Avg. Home Price: +2%
Total Sales: -14%
Avg. Home Price: -9%
Show Low (excluding Torreon)
Total Sales: +22%
Avg. Home Price: -2%
Total Sales: -1%
Avg. Home Price: -1%
Total Local Area
Total Sales: -2%
Avg. Home Price: Even