What Do Current Phoenix Market Conditions Mean for You?

There are a variety of opportunities in the Phoenix Real Estate Market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Today, I want to share a few market statistics with you to give you a good idea of where we're at.

If you're in the East Valley, $350,000 is your key number. Homes listed under this are getting multiple offers and selling quickly.

Maricopa County as a whole is still a pretty balanced market. We’re at 4.1 months of inventory, which means it’s a touch of a buyer’s market. However, in some pockets of the market we’re seeing inventory as low as 1.9 months, which means homes are flying off the shelf in those areas!

If you’re in the West Valley, the magic number for you is $250,000. Any home under that price is in high demand! Homes that fall under that market are selling incredibly fast and for top dollar, so now is the time to list if you’ve been on the fence and have a property in that market range!

If you would like a more detailed analysis of our current market, please don’t hesitate to reach out to me. I’m always available to help you!

Phoenix Market Snapshot

There are a variety of opportunities in the Phoenix Real Estate Market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

The market here in Phoenix has seen better days. There is currently a weak demand for homes throughout the area, with the exception of a few pockets. Because of weak demand, the average days on market has risen to 84, from only 61 last year. Our inventory has also increased - to 4.2 months from 3.4 months at this time last year. Additionally, the listing success rate has fallen from 76% to below 70%.

The only good piece of news we have for you today is that average sales price has risen to $250,000 from $225,000. The luxury market is seeing some positive trends, as activity is still strong for homes above $2 million. While overall conditions aren't the best, we will make it through this holiday season. Homes may be sitting on the market for longer, but sellers are getting higher prices in the end. This time of the year is pretty ideal for sellers, as we typically see serious buyers in the fall and winter months.

If you have any questions regarding Phoenix real estate or need a hand navigating this tough market, give us a call or shoot us an email. We can help you make the most of these conditions!

Expect a Buyer's Market in Phoenix for the Summer of 2014

There are a variety of opportunities in the Phoenix real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Welcome to my Phoenix Real Estate Video Blog!

I have two reasons for creating this blog, and they are both geared towards the satisfaction of my clients.

1. I want to update you on what is happening in the Phoenix real estate market so that you can make more informed decisions when buying, selling or investing. 
2. I can answer a question I hear all the time: is it a seller's market or a buyer's market?

To answer this question, I will tell you that we are currently trending towards a buyer's market. We had a seller's market for quite some time, but inventory has risen for 4 consecutive months and we have nearly twice the amount of homes as we did last year.

This shouldn't bother sellers, though, because home prices are up by 20% from last year. Even though home prices are up, there are less buyers in the market. This has caused the average days on market to move from 69 last year, to 83 days this year. 

Hopefully this information will be useful to you if you're buying or selling in Phoenix this year. Please feel free to contact with any questions or comments.