Q3/2011 LightRailConnect Real Estate Market Report

by | Oct 7, 2011 | Market Report, News & Information

      The research department at Light Rail Advisors has just released the current real estate market report for the Phoenix Metro area. This data and graphical report presents the current snapshot of real estate activity within .25 miles of each light rail station. If you are interested in the Residential or Commercial market, you will find interesting trends and direction that span the last 5-10...

Market Report: June 2011 Residential Sales near light rail

by | Jul 24, 2011 | Market Report, News & Information

Market Report Phoenix Metro Light Rail June 2011 The month of June ended with 185 residential units sold within .5 miles of the Phoenix-Tempe-Mesa tracks.  While the sold prices can vary significantly, the opportunity for high and low end residential units remains high.     Sold Price Sq Ft Day on Market Low $23,300 602 0 Ave $114,209 1,320 100 High $669,000 3,119 642 This information in this report was furnished by ARMLS. The information and data are believed to be accurate, but cannot be relied upon for decision making. This report was supplied by LRA Real Estate Group, LLC, 637 S. 48th St, Ste 201, Tempe, AZ 85281; 480.734.7878; Bryan Watkins, Designated...

Residential Real Estate 3-Year trends near light rail

by | Apr 4, 2011 | light rail corridor, Market Report, News & Information

Light Rail Corridor Real Estate Trend: .5 miles from the tracks Residential Sales by Property Type: 3-year Trend Average and Median Sales Prices: 3-year Trend by Bryan Watkins, Light Rail Advisors We all know what happened during the past 3-4 years in the real estate economy here in the Phoenix Metro area, right? So what happened in the light rail corridor during that same time? Let’s focus on the light rail corridor, that spot in which taxpayers invested $1.4 Billion, or $13,258 per linear foot. Home prices stood in Q4 2007 at an average price of $266,000, and a median price of $215,000. The next 5 quarters were all downhill. The slide stopped in Q1 2009 at an average price of $104,000, and has been relatively flat up until the current time. We can see that actual numbers and trends in the chart below: Interesting to note is the type of property that was reported sold on MLS. Q1 2007 reported total sales at 86 units of all residential property types, with the breakdown as follows: 31   Single Family Detached 16   Apartment Style 5   Loft Style 30   Townhouse 4   Patio Home 86    Total From Q12007 forward, sales of residential property types started increasing until the current point at Q1 2011, where MLS reported the following: 110   Single Family Detached 139   Apartment Style 20    Loft Style 53    Townhouse 2      Patio Home 324  Total The light rail corridor real estate market has been moving along at an average 300+ unit quarterly sales rate for the past 4 quarters.  Prices...