HERE IS A TREND ANALYSIS OF PRICE PER SQFT IN THE SUN CITY
CORE. PRICE PER SQFT ANALYSIS IS OFTEN USED BY REALTORS
IN PRICING PROPERTY. IF THERE WAS ANY DOUBT ABOUT
DECLINING VALUES IN SUN CITY THIS SHOULD RESOLVE IT.
THE ANALYSIS IS FOR THE PERIOD 5/01/2006 THRU 5/31/2007.
AS YOU CAN SEE PRICES ARE DOWN APPROX. $20 PSF IN THE
LAST YEAR. THATS $20,000 ON A 1000 SQFT HOUSE. IN THE
CORE THERE ARE CURRENTLY (6/14/2007) 123 HOMES FOR
SALE.IN MAY THERE WAS 22 SALES WHICH IS .70 SALES
PER DAY. IT WOULD TAKE 6 MONTHS TO DISPOSE OF THE
STANDING INVENTORY.
SUN CITY APPRAISER
The downward trend in the Sun City Core continues. There were 21 sales in June but only 11 in July. Average days on market in June was 71 but increased to 107 in July. As you can see from the attached graph the price per sqft has continued to decline in June and July. In other words, houses are selling for less and talking longer to sell and fewer of them are selling.
