Phoenix Market Trend-Under Contract-Weekly Average List Price 1 Oct 2012
This particular graph relates how much a home is worth versus how much a home is being sold for in the Metro Phoenix area. Often times during economic slow times, the amount that a home is worth is typically not what a home is being sold for. The Weekly Average List Price Under Contract shows how much a seller is asking for the purchase of their property in Metro Phoenix based on the signed contract. This is probably the most accurate dipiction of the market - specifically for the Seller. Obviously, the more that a home is selling for per square foot - the more that a homeowner's property is worth, which brings up the values of all of the homes around the neighborhood.
As you can tell, Metro Phoenix is at a steady climb when it comes to the amount a home has sold for per square foot. October 2012 is already at $98.16 - up from $96.74 from exactly one month prior. To put that into perspective, a person with a 1,100 square foot condo would be valued at $107,976.00 in Metro Phoenix. Considering these slight but significant increase in these aspects of real estate gives a lot of hope that the values of the homes in Metro Phoenix are going to get back to the point where homeowners are not upside-down in their mortgages and everyone can afford where they live.
If you are considering selling your home, please give us a call at the Phoenix Property Shoppe! Whether you are a first-time seller and are not sure what to expect or what options might be available to you - or, maybe you are just looking to get rid of an investment property and need a little direction. WE CAN HELP! With our FREE PROPERTY ANALYSIS REPORT, our team can assess your situation and help with relevant solutions for your real estate needs!
Phoenix Market Trend-Under Contract-Weekly Average List Price October 2012
Comments(3)