Avondale, AZ - Market Report October 2012

Avondale, AZ Market Report October 2012

Total Active listings are up 11% over the past 30 days and 41% since May.

Lender Owned (REO) and Short Sales (SS) make up less than 26% of Total Actives.

Lender Owned (REO) prices are up 12.7% month over month. That's not a misprint. Lender owned properties are drying up fast in the Phoenix Metro Market and many are receiving multiple cash contracts driving prices up.

Unlike REO and Normal Sales, Short Sale prices have remained unchanged over the past 6 months and I believe the main reason is the challenge buyers face in closing them. As you can see Short Sales Pending are the biggest bottle neck in our market.

Normal Sale prices are unchanged month over month and up 12% over the past 6 months.

What does this mean for buyers and sellers in Avondale, AZ :

 - If you are thinking of buying a home in the next year or two, don't wait, prices will continue to rise. Buy now.

 - If you are thinking of selling your home in the next 12 months list it now, competition (other active listings) is still very low but increasing each month.

 - 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 bargains available in homes larger than 3000 sq.ft.

-Click Here To Find Out What Your Home Is Worth-

-Click Here To Search Homes For Sale in Avondale, AZ-

Work with a REALTOR who truly understands the Avondale, AZ Market E-mail Nancy@NancyLaswick.com or call (602) 793-1627.

Whether you are buying or selling a home in Avondale, AZ 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.