Yesterday I had a great meeting with Mark Taylor of Amerifirst Financial about sorting through the vast amount of information that can benefit buyers/sellers in the Phoenix MSA with specific emphasis on my market areas of Scottsdale, Carefree, Cave Creek and Rio Verde Foothills areas and zip codes.
Mark asked what my target market was and I explained it was specific geographic areas by zip codes. He then asked what price ranges were moving in those specific areas? And my response was, well those are good areas. Bad answer....so we looked specifically at the overall market for the Phoenix MSA vs. the specific geographic home areas that I service, specifically, North Scottsdale, Cave Creek, Carefree, and Rio Verde Foothills.
So after a little research, here is what is really happening in the Phoenix overall real estate market which is inclusive of my market service area, North Scottsdale, Cave Creek, Carefree and Rio Verde Foothills. Information about my service areas will be provided in subsequent blogs to follow.
To people not knowledge specific about the Phoenix MSA market and Maricopa county might believe the average sales price for the area is very high, as you can see, the median sales price is 130K and the bulk of sales continue to be cash sales. Also note that the upper end market is still very lack luster, which translates into opportunities for the higher end buyers looking for deals. Better than average opportunites exist in the 300K plus purchase range simply due to the lack of sales activity.
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