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.

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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.

Who’s Our Phoenix Market Favoring as We Head Into August?

The latest numbers from our market paint a different picture for buyers and sellers.

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

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

As we hit mid-August in our metro Phoenix area, the latest numbers provide some good news and bad news for buyers and sellers.

There are currently 17,678 active listings on the MLS, which is a 12% decrease from the 19,711 listings that were active at this point last year. For all types of homes, our average days on market is 66 days. For sellers, this is great news. In some neighborhoods around the Valley, we’re even approaching 2006-level numbers, which was the peak of our market.

In some neighborhoods around the Valley, we’re even approaching 2006-level numbers.

For buyers, the news is not so great. There are a lot of buyers out there looking for homes in the $300,000 range, but there is a shortage of inventory at that price point.

If you’re a buyer and you’re having a difficult time finding your next home, don’t hesitate to get in touch with us so we can provide you with access to our off-market and FSBO (for sale by owner) properties.

If you’re a seller or you have any other questions about our market, feel free to give us a call. Talk to you soon!

What Do the Latest Numbers Reveal About Our Market?

According to the latest statistics, our market is very healthy, but it’s also favoring sellers more than buyers.

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

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

Today I want to give you a quick multi-market update for March 2017. Last month was a busy month for us, but how did our market do compared to March 2016?

For starters, the number of home sales increased to 9,248, which is about 1,000 more homes than were sold in March 2016. Our level of inventory dropped from 25,000 in March 2016 to about 23,000 homes last month.

This shortage of inventory is especially evident when we look for homes for our buyers. Lastly, our average days on market decreased from 63 days in March 2016 to 59 days last month.

The latest stats from our market paint a promising picture for sellers.

Overall, our market is very healthy, but it’s definitely favoring sellers. If you’re on the fence about selling your home, you can reach out to us and we’ll provide you with a comprehensive price analysis of your home free of charge.

If you have any other questions about our market, just give us a call or send us an email. We’d be happy to help.

Where Is the Valley Real Estate Market Heading?

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

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

January was a really good month for home sales here in the Valley. In fact, overall sales were up about 15% over January of 2015. This month, we’re doing pretty great as well when compared to February of last year.

Overall, the supply of homes is down. If you’re in the market to buy a home under $275,000, there’s not much available. This is great news for sellers in that price range, but it makes the buying process very difficult for people looking for a home. If you’re a buyer looking for a home over $400,000, you have a lot more options.

The four biggest markets in the Valley have seen improved conditions for sellers. However, the Glendale and Peoria markets, as well as Amandale, have seen a minor slowdown for sellers. We think this is just due to it being early in the year, but we’ll keep you updated on the situation as we move forward.

If you would like specific market data for your area, or if you need real estate assistance of any kind, please don’t hesitate to reach out to us. We would love to hear from you!