June 4, 2011.  125 homes sold in May, at an average of $92 per square foot, which is an improvement

Anthem home sales were very strong in May, with 125 homes sold at an average of $92 per square foot.  That’s an increase over last year’s May sales, where 114 homes sold at an average $90 per square foot.  Here’s the price per square foot trend of home sales over the last 5 months.

May – $92

April – $88

March – $88

February – $90

January – $84

Part of the strength in prices is because inventory remains fairly low, at 141 homes for sale.  In 2008, it wasn’t unusual to see between 300-400 homes for sale  at any one time.    Even so, there are pockets of strength within Anthem – Anthem Country club sales were strong in may, with 41 sales vs. 31 a year ago at this time.  Plus, we’re seeing any nice home under $130,000 sell quickly, and pool homes priced right are in extreme demand.

May is historically a good month for Anthem sales, so we should see a slight pull back in sales when the temp gets over 103.  But I think most people are hoping for a continuation of price stabilization  so that buyer confidence continues.