In 2015, Verrado, as a community, continued to make big strides forward. It was a great year, full of many new residents, homes and amenities. In 2015 we saw the Grand Opening of VICTORY, the valley’s newest cutting edge active adult community, featuring stunning panoramic mountain and city views, state-of-the-art amenities and a new Tom Lehman designed golf course (Scheduled to open in 2017). In addition to VICTORY, Verrado experienced its own growth adding another Elementary and Middle School, Water Park in the Heritage District and a new Gas Station. The future for Verrado is brighter than ever with a new Fry’s Marketplace and shopping pavilion, Parkview Plaza, scheduled to break ground in 2016 at the Northwest corner of Indian School Rd and Jackrabbit Rd.
Year-end Sales Analysis
- 264 Homes SOLD in 2015 – Average SOLD Price – $/sqft = $294,095 – $122.03/sqft
- 119 Two-Story Homes SOLD – Average SOLD Price – $/sqft = $290,902 – $109.70/sqft
- 145 Single Level Homes SOLD – Average SOLD Price – $/sqft = $297,413 – $132.23/sqft
- 59 Homes w/Pools SOLD – Average SOLD Price – $/sqft = $356,248 – $119.74/sqft
- 4 Custom Homes SOLD – Average SOLD Price – $/sqft = $1,050,000 – $210.51/sqft
- 17 Custom Homesites SOLD – Average SOLD Price = $123,426
Behind the Numbers
- Sellers had to wait over 30% longer to sell in 2015 as average days-on-market rose by 34% from 91 days in 2014 to 122 days in 2015.
- Verrado experienced a modest increase in average Sold $/sqft with an increase of 7% from $114/sqft in 2014 to $122/sqft in 2015.
- Home sales across the board increased in Verrado with 264 home sales in 2015, up 28% from 206 homes sold in 2014.
- Up slightly in 2015, more than half, 55% of homes sold in Verrado in 2015 were priced between $200,000 – $300,000.
- Land sales of custom homesites within Verrado soared in 2015 up over 140% from only 7 homesites sold in 2104 to 17 homesites sold in 2015.
- With the increase of custom homesites sold in 2015 this market did experience a 20% drop in sales price and nearly a 20% increase in days-on-market.
In Summary, The Verrado market is showing positive indicators that home values are on the rise with steady price increases year-to-year since the recession. As consumer confidence and financing return to the markets we predict home values and prices to continue to rise again slightly in 2016. We continue to see Verrado as one of the Best Places to live in all of Arizona.