Monthly Median Sales Price - Indicates Improvements in Phoenix 9/2013
The Monthly Median Sales Price is one of the most accurate indicator of the overall well-being (or the lack thereof) of the Phoenix Real Estate market. It gives a great overview of the condition of the total market - as when this number is down, it reflects all homes that have been sold. The converse is also true - whereas when the number is up, it is still a median reflection on the bigger picture of the Real Estate market.
The Monthly Median Sales Price is the price of the home that has sold exactly in the middle of all the homes sold collectively throughout the Valley of the Sun. For instance, if there were 15 homes that sold total, the median sales price would be the amount of the eighth home sold. This definitely has an advantage when you are trying to sell your home or investment property for a higher value, as it could give the price a home that sold on the upper end of the average. This creates a cycle of improvement that begins with the increase in the value of the home, which gives more value to other homes trying to sell, which bumps up the overall values of the homes in the area, which is appealing to people moving to Phoenix, which helps Phoenix to grow as a whole, which gives more back to the economy... you get the picture.
Monthly Median Sales Price through September 2013 Indicates Improvements throughout the Valley of the Sun
As the chart above indicates, the Metro Phoenix area has experienced a gradual, steady, and continuously promising increase with regard to the sales prices that homes are selling for throughout the different areas of the Valley. This is great news for all homeowners who live in Phoenix or any of the surrounding areas because as we grow as a community, so does the revenue stream and the economy. The stronger economy that we can present only gives more opportunity as a whole because every business wants to have the social and financial support of a strong community. We are at the end of September 2013 and the Monthly Median Sales Price is at $195,000. Granted this is a skewed average, but even so, to have the average home in the Valley of the Sun is selling at close to $200,000 is appealing to everyone.
The best news of the day is that there are so many Buyers looking to make a purchase in the Metro Phoenix area and there are not enough supply for those buyers. Potential Sellers are encouraged to make the move and sell their home or investment property. And, if you have been considering selling your home, then you need to set up an appointment with Anna "Banana" Kruchten. With her knowledge, experience, and team of experts in their fields - Anna "Banana" will make sure that your Real Estate needs and expectations are met.
To see what Anna Banana's clients have to say about her click here .
To search for Phoenix Metro homes click here.
Monthly Median Sales Price - Indicates Improvements in Phoenix 9/2013
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