McCormick Ranch Real Estate Market Report (December 2007)

It's the end of the month, so that means it's time for my monthly McCormick Ranch Real Estate Market Report. In keeping with the spirit of the holidays, let's see who was naughty and who was nice this month. The evidence does not come in the form of presents nor stockings filled with coal, but rather consummated home sales and expired listings.

• There are currently 132 active single family homes for sale in McCormick Ranch. These properties average 2498 square feet, a list price of $730,822 and 129 cumulative days on the market. The average price per square foot for these listings is $292.56.

• There are currently 5 pending sales (contract has been successfully negotiated, but has not closed escrow yet) in McCormick Ranch. These properties average 2440 square feet, a list price of $623,800 and 71 cumulative days on the market. The average list price per square foot is $255.66. The eventual sales prices of these properties will not be known until the transactions close escrow.

• There have been 6 successfully closed sales in McCormick Ranch in December. These properties averaged 2596 square feet, a list price of $584,750, a sales price of $552,167 and 138 cumulative days on the market. The average sale price per foot for these properties was $212.70.

• There were 9 listings that were cancelled in December in McCormick Ranch. These homes averaged 2767 square feet, a list price of $698,861 and 163 cumulative days on the market. The average list price per square foot was $252.57.

• December also saw 5 listings expire in McCormick Ranch. These properties averaged 2337 square feet, a list price of $572,800 and 210 cumulative days on the market. The average price per square foot for these properties which did not sell was $245.10.

So what do these statistics mean to you? Without context they are just figures on a piece of paper. There is a wide variety in the properties that constitute McCormick Ranch Real Estate. In a community which features homes that are typically 20-35 years old, there are vast differences in the level of maintenance and improvements from house to house. There are numerous builders in McCormick Ranch whose products varied from smaller homes with flat ceilings to larger home with vaulted ceilings and Spanish tile roofs. There are two different school districts in the Ranch (Saguaro and Chaparral High Schools) which affect values. McCormick Ranch includes very high end properties which boast lake and/or golf view lots.

In other words, a proper evaluation of your home's worth and desirability to the current market cannot be found through a computer screen. The above statistics are meant to serve as a guide to the current forces at play in the McCormick Ranch Real Estate market, but by no means should be used to derive an opinion of value. For a proper opinion of value, or any other matter that pertains to Real Estate, call your local experts.