Avondale, AZ 85392 Market Report June 2012
As a Realtor living and working in the Phoenix Metro Area I am often asked what parts of the Valley are selling well? All real estate markets are local. Local meaning specific neighborhoods, subdivisions or zip codes and most often that is the market data that I supply to my clients. However, sometimes it's beneficial to look at larger areas to identify trends that might not be so easily found in smaller samples. In this Market Report we're looking at Avondale, AZ 85392.
Unlike most of the valley Total Active listings are up 20% over the past 30 days.
The numbers of Lender Owned (REO) and Short Sales (SS) are virtually unchanged and make up 36% of Total Actives.
Lender Owned (REO) prices are up 10% month over month. Lender owned properties are drying up fast in the most of the Phoenix Metro Market, Avondale however still has a good supply.
Short Sale prices are up 9% month over month but there is still a good supply of excellent Short Sale properties in Avondale.
Currently there are almost 300 Short Sales pending. Historically almost 20% of those deals will fall apart potentially putting another 60 homes back on the Short Sale market or into foreclosure (REO).
Unlike the rest of the valley Normal Sale prices are down by 8.5% month over month.
What does this mean for buyers and sellers in Avondale, AZ 85392 :
- If you are thinking of buying a home in the next two to three years, it's a good time to do so. Even though Normal Sale prices are down over the past 30 days they have been rising steadily over the past 8 months and as the REO/SS inventory begins to shrink , Normal Sale prices will begin to rise.
- If you are thinking of selling your home in 2012 list it now, competition is at an all- time low and prices may level during the summer months and as we approach the election in November.
- If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargans available in homes larger than 3000 sq.ft.
Work with a REALTOR who truly understands the Avondale Market E-mail Nancy@NancyLaswick.com or call (602) 793-1627.
Whether you are buying or selling a home in Avondale, AZ 85392 I offer a free customized market report. As an informed buyer or seller you'll make better decisions.
All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.
Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.