I take it that you heard about the supermoon last week when the moon made its closest approach to Earth this year.
It seemed in many corners to be treated like a once-in-a-lifetime event when, in reality, it happens every year. And, for that matter, last year’s supermoon was even more super as the moon was 240 miles closer.
Perhaps this year’s added fascination came in part because the supermoon – again, an annual event – was predicted by the Mayans, who happened to be really, really good at astronomy back in the day. And, now that I think of it, maybe what I’m seeing in the MLS is proof that the world is ending on December 21 …
For the past five years I’ve been working in Westbrook Village, an active adult community located in Peoria just northwest of Loop 101 and Union Hills and also just northwest of the Arrowhead Towne Center. Much like the lunar-influenced tides, inventory in Westbrook Village peaks and wanes with the seasons.
During the winter selling season, it’s common to see approximately 110 or so of the community’s roughly 5,000 homes on the market at any one time. In the summer, that number generally declines to around 75. Those in the stock community would call this a fairly tight trading band – there may be exceptions, but you almost can book that the numbers won’t vary by much more than 10 percent barring something unusual.
Say hello to something unusual:
That, dear readers, is a whopping 43 homes for sale in a community of more than 5,000 properties. And that’s equal to less than 1 percent of the total available inventory actually on the market, a pittance and an anomaly.
(Gratuitous aside warning …) I’m happy to report I’ve aided to the shortage – I’ve sold a half-dozen properties in Westbrook Village this year alone.
Part of the appeal of Westbrook has been the delayed decline in prices, a decline that didn’t begin in earnest until about 18 months ago. But now, with inventory short and interest remaining high, the window of opportunity for depressed prices may be on the verge of passing.
But wait, there’s more …
Ventana Lakes, another active adult community, this one north of Sun City and immediately northwest of Westbrook Village, usually sees its inventory retreat to 40 or so homes during this time of year. Right now?
Eight. Ocho. Shemone.
That, to say the least, is not much. And that leads to the greater point of all of this.
For quite some time, I’ve said the retirement communities have been immune to the hyperactivity we’re seeing elsewhere in the Valley. Clearly, that’s no longer the case. Second, if you happen to own a property in one of these communities and have been mulling selling for whatever reason, this would be an excellent time to pick up the phone or drop us an email and see what your home’s worth and what we can do for you.