The 2015 Verrado Real Estate Market Recap – by Tim Klimek

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.

Understanding the New Real Estate Market – by Diane Simpson

Since the rebound of the recession of 2008, there have been many changes in the Real Estate market. As you look across Verrado and the Phoenix Valley, you will now see more building in the new home arena, custom homes and commercial buildings.

We have also seen a very positive shift in the resale market, with considerably fewer short sales and foreclosures, which is keeping the price point higher and steadier. The price point is not rising at a fast pace but it does seem to be consistent, making for a healthier market.

Currently we see a trend with smaller homes bringing a higher price per square foot where the larger homes, over 3000 sq ft, are bringing a slightly lower price per sq foot. This appears to be cyclical, changing with the demand; we might attribute it to the large Baby Boomer generation scaling down at this time.

News articles tell us that the younger home buyers, the Millennials, have a higher debt due to student loans and auto loans, which is keeping them from buying a home at a younger age. Rentals are at a higher price per sq ft due to these economic changes, causing many to think of investing in income properties.

Something that seems to have caught on that benefits both the Millennials and the Baby Boomers are the new Multi Generation homes being built across the Valley. Verrado is a great place for just that and we are happy to have that offering here. To prepare for the future of any size of family, real estate is a good investment at this time in Verrado and the Phoenix Valley.

21036 W. Court Street, Buckeye | Price Reduced $234,800

This charming home is within 2 blocks of Main Street in Verrado. The wonderful details include:

  • Covered front porch
  • Private side courtyard
  • Eat-in kitchen with stainless steel appliances
  • All major appliances included
  • Large side yard with great entertaining amenities
  • Mature landscape
  • Fire-pit with seating
  • Outdoor kitchen with a built-in BBQ, bar and seating area

This lovely home shows pride in ownership and is move-in ready.

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3778 N. Park Street, Buckeye

Experience this gorgeous Verrado home in the heart of the Main St. District from TW Lewis, one of Verrado’s most prestigious builders. This meticulous home offers many custom upgrades including:

  • Large corner lot provides privacy
  • Expansive mountain views and close proximity to all the amenities Verrado has to offer
  • Wood and stainless Casablanca ceiling fans
  • 20” Italian tile
  • Built-in Vizio 58” plasma TV with sound bar
  • Wood plantation shutters and Architella shades
  • Large kitchen boasts granite counters, stainless steel backsplash, walk-in pantry, and butler’s service area off dining room
  • Large ensuite master
  • Office with custom built-in cabinets and a desk area
  • Laundry room has pedestal-mounted Samsung washer and dryer plus utility sink and cabinetry surround
  • Back yard complete with pavers and a built-in BBQ

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kit and fam park st. verrado

20552 W. White Rock , Buckeye

This single story elegant home has a wonderful living/entertaining space that is a sought after commodity. The home features:

  • Dark wood flooring throughout main living areas
  • Gourmet eat-in kitchen
  • Granite countertops, an oversized island and stainless steel appliances
  • Large master bedroom and ensuite bathroom
  • Lots of windows throughout
  • Good-sized laundry room with sink
  • Spacious backyard has pavers plus a grass area
  • Beautiful private backyard with mature landscaping, a private terrace off the master bedroom and perfect north/south exposure complete this home.

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