Phoenix Market Update Through December 2017

I’ve got a quick market update to share with you. Here’s what you should know about Phoenix real estate.

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As we head toward the end of the year, I have a market update to share with you. We took a look at the latest real estate statistics for this past month and compared them to what we saw at this time last year. Here are a few of the more important things we want you to know about:

1. The 7,214 home sales we saw last month are up from the 6,890 we saw in November 2016.

2. The average sale price is up from $282,000 in November 2016 to $308,000 in November of this year.

3. The average days on market is down from 67 days to just 63.

4. The average sold price per square foot is up 6.5%, from $277,000 to $296,000. A great figure for anybody who is thinking of getting in the market.

Reach out if you have any specific questions for us.

If you have any specific questions or want to learn more about what’s going on in the market, give us a call or send us an email. In the meantime, we wish you and your family a very happy holiday season and a happy new year. We were blessed to be able to help so many of you this year, and we hope to help even more of you in the future.

We look forward to hearing from you soon!

What Does The Market Have in Store for Those Who List Now

We’ve got a quick market update for you today. We’ve also got the answer to a common homeowner question.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

I’ve got a quick Phoenix real estate market update for you today, but before I get to that I wanted to answer a common question I’ve been getting recently. The question is, “Should I list my home now or wait until next year?”

My answer is that it depends on your situation. If you plan on hosting a lot during the holidays or you have a few repairs to get taken care of prior to listing, it might make sense for you to wait until next spring to sell.

On the flip side, December has been one of the busiest months of the year for our team over the last few years. We’ve been seeing more and more motivated buyers around this time of year. These buyers are writing offers as many sellers are pulling their homes off the market until spring. If you decide to list now before the end of the year, this gives you a huge advantage in the market.

We’ve been seeing more and more motivated buyers this time of year.

Speaking of the market, let’s switch gears a little bit and talk about what kind of numbers we’re seeing in Maricopa County right now. Here’s what we’re keeping an eye on:

• Closed sales are at 7,408. This is an increase of 4% from last year.
• The average sale price has increased 4% to $297,000.
• The average price per square foot of sold homes is up to $148.
• The average days on market is down from 69 to just 60 days.

We currently have 19,294 homes on the market. This gives us about 2.5 months of inventory and puts us squarely in a seller’s market.

If you have any questions for me or would like more information about what your home could be worth for in the current market, don’t hesitate to give me a call or send me an email. I would be happy to help.

Where Can You Find Properties Besides the MLS?

Buying a home in this kind of market is tough. Here are four ways we make things easier for our buyers.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

If you’re looking to buy a home but you’re having a hard time finding a good fit or you keep getting beat out by other offers, we have some solutions to share with you.

We try to go outside the box to find homes for our buyers. In a super hot seller’s market like ours, homes in the lower price ranges ($300,000 and under) are selling in less than a month. This means we need to be creative, and here are four ways we are finding more properties for our buyers to look at:

You’ve got to be creative to find a great home in this market.

1. Coming soon listings. These are listings that our team has that aren’t on the market yet. The listing agreement is signed, but most of the time we take a little extra time to get these homes ready for the market. You can check all of them out on our website.

2. Off-market properties. We find a lot of these by calling homeowners who had their homes on the market in the past but didn’t end up selling. Most of the time, these people are still interested in selling. However, they are nervous about another failed listing. By reaching out to those people and letting them know we have a qualified buyer looking for a home like theirs, we can greatly increase your chances of being able to buy the home.

3. FSBO homes. Also known as “For Sale By Owner” homes, these homes are being sold without the use of a listing agent. However, most FSBOs hire a buyer’s agent to help them find a buyer. That’s why it’s important to know who you are hiring so you know they have your best interests in mind.

4. Wholesale properties. There are many of these throughout the Valley. Most of them need at least some kind of major repair. If you’re an investor or someone who isn’t afraid to get their hands dirty, this might be a great option for you.

I hope this information has been helpful for you. If you have any questions for me or want to learn more about how we help buyers succeed in this market, watch this short video.