Buckeye, AZ and Festival Foothills Rental Market Comparison 1st-2nd Quarter 2013 to 2015

Last week, we took a look at the city of Peoria, AZ and the Vistancia subdivision's 2013 to 2015 pertinent rental market figures.

This week, we will look at rental market statistics from 1st and 2nd Quarters 2013-2015 in the City of Buckeye, AZ. All figures are taken from closed rental data from the MLS.

The break down will focus on the subdivision of Festival Foothills.

We will analyze the Buckeye rental market data  from 1st quarter and 2nd Quarter of 2013 and 2014 and compare it with data from 1st Quarter and 2nd Quarter to date in 2015.

Let's take a look at the Buckeye and Festival Foothills rental market data.

The rental market numbers for Buckeye in this study are consistent with what we have experienced with the overall 2015 Phoenix Area Rental Market. The Festival Foothills comparison screams small sample size but it is what has happened with MLS listings and we will summarize the data based on what we have, 

Overall, average rental prices in Buckeye has increased during this 2013-2015 time period. The median rental price has increase from 2013 to 2015 in Buckeye by $122, but has only increased in Festival Foothills by $39. Rental property inventory has decreased significantly in Buckeye.

In Buckeye average rental property rent rates in the time frames analyzed have increased only about 12% (from $1005 to $1127). The median rental price has shown an 12% increase. 

Festival Foothills average and median rental property rent rates have increased a bit in the time frame studied. What is interesting though is the Average Days on Market has decreased by over 50% and median days on market has been cut in third from 68 days to 19 days. Based on this number, a price increase would be realistic to expect moving forward. 

Peoria and Vistancia Rental Market Comparison 1st-2nd Quarter 2013 to 2015

Last week, we took a look at the city of Anthem, AZ and the Anthem Country Club's subdivision's 2013 to 2015 pertinent rental market figures.

This week, we will look at rental market statistics in the City of Peoria, AZ. All figures are taken from closed rental data from the MLS.

The break down will focus on the subdivision of Vistancia.

We will analyze the Peoria rental market data  from 1st quarter and 2nd Quarter of 2013 and 2014 and compare it with data from 1st Quarter and 2nd Quarter to date in 2015.

Let's take a look at the Peoria and Vistancia rental market data.

The rental market numbers for Peoria in this study are interesting because they are not consistent with what we have experienced with the overall 2015 Phoenix Area Rental Market. 

Overall, average rental prices in both Peoria and Vistancia have remained relatively flat during this 2013-2015 time period. The median rental price has increase from 2013 to 2015 in Peoria by $100, but has actually decreased in Vistancia. Rental property inventory decrease in these areas has not been as significant as the Phoenix rental market in general inventory decrease within the same time frame.

In Peoria average rental property rent rates in the time frames analyzed have increased only about 1% (from $1283 to $1298). The median rental price has shown an 8% increase. 

Vistancia average and median rental prices have decreased in the time frame studied. What is interesting though is the Average Days on Market has decreased by almost 50% and median days on market has been cut in third from 54 days to 18 days. Based on this number, a price increase would be realistic to expect moving forward. 

2013 to 2015 1st-2nd Quarter Rental Market Comparison in Anthem and Anthem Country Club

Last week, we took a look at the city of Surprise, AZ and the Surprise Farms subdivision's 2013 to 2015 pertinent rental market figures.

This week, we will look at rental market statistics in the City of Anthem, AZ.

The break down will focus on the subdivision of Anthem Country Club.

We will analyze rental market data  from 1st quarter and 2nd Quarter of 2013 and 2014 and compare it with data from 1st Quarter and 2nd Quarter of 2015.

Let's take a look at the data.

The rental market numbers for Anthem are consistent with the overall 2015 Phoenix Area Rental Market. Overall, average rental prices in both Anthem and Anthem Country Club have increased from 2013-2015. Rental property inventory has decreased in that time frame.

What is interesting about Anthem Country Club is the negligible AVG rent increase from 2014 to 2015 and a decrease in the median. This is the only subdivision that we have analyzed over the last couple of months that shows this. It could be a sample size issue but it might show that the recent rent increase here has peaked.  
 
In Anthem, average rental property rent rates have increased about 8% from 2013 to 2015 (from $1431 to $1550). 

Rental Property inventory in Anthem, AZ has also decreased a bit. Although a precise number will not be computed until the end of the quarter, the decrease in inventory is much less pronounced than in other cities.

The percentage increase in average rental price from 2013-2015 within Anthem Country Club is about 12%.

2013 to 2015 1st-2nd Quarter Rental Market Comparison in Surprise and Surprise Farms

Last week, we took a look at the city of Avondale, AZ and the Harbor Shores subdivision's 2013 to 2015 pertinent rental market figures.


This week, we will look at rental market statistics in the City of Surprise, AZ.

The break down will focus on the subdivision of Surprise Farms.

We will analyze rental market data  from 1st quarter and 2nd Quarter of 2013 and 2014 and compare it with data from 1st Quarter and 2nd Quarter of 2015.

Let's take a look at the data.

The rental market numbers for Surprise are consistent with the overall 2015 Phoenix Area Rental Market as company. Average rental prices in both Surprise and Surprise Farms have increased from 2013-2015. Rental property inventory has decreased in that time frame.

What is consistent with the Avondale numbers is the Average and Median Days on market figures. Listing time in Surprise has been more than cut in half from 2013. Within the Surprise Farms Subdivision, the average days on market went from 53 in 2013 to a current 24 day number.
 
In Surprise, average rental property rent rates have increased about 16% from 2013 to 2015 (from $1072 to $1247).

Rental Property inventory in Surprise, AZ has also decreased,
although a precise number will not be computed until the end of the quarter.

The increase in rental price from 2013-2015 in Surprise farms is about 11%.