December was a mixed bag for home sales in Phoenix 85032.
- Active Listings are down 15% from the previous quarter but that is good for sellers as demand has increased, but only slightly.
- Pending Listings and Sales Per Month are down slightly, a percentage point or two, nothing big.
- Sales Per Year is unchanged.
- Days on Market for December Closings were down at 85 while Days On Market for all Active Listings in 85032 was up about 10% at 109 days.
- Days Inventory and Months Supply are both down indicating that market velocity is starting to pick up and that’s very good for sellers.
- Annual appreciation for 85032 is at 7% slightly above historical average.
- One number that has dropped again is Listing Success Rate, it is currently 66% and while that’s only a change of 2% it means that many listings coming on to the ARMLS are overpriced and once they sit more than the normal number of days on market they become stale and the chance that they will sell drops precipitously.
What does this mean for buyers and sellers?
If you’re thinking of selling your home January through April is prime time for home sales in Phoenix, just make sure your property is priced correctly. Have an experienced Realtor® do a comparative market analysis for your home.
If you’re thinking of buying it’s a great time to find your dream home. While active listings are down somewhat there aren’t a ton of buyers competing with each other and driving prices up. Also mortgage rates continue to remain incredibly low so you will be able to buy a lot of home for your money.
If you’re thinking of selling your home I’d like to apply for the job. I’m a Top Producer in an office of over 300 agents and I’ve sold more than 20 homes a year for the last 12 years.
If you’re looking to buy a home I’d like to help you find just the right property, whether it’s a previously owned home or a brand new home built just for you.
Either way give me a call 602-793-1627 and let’s talk about your wants and needs. The consultation is Free and there is no obligation.
Whether you are buying or selling a home in Phoenix, AZ
I offer a Free Personalized Market Report.
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E-mail Nancy@NancyLaswick.com or call (602) 793-1627
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Graphic Courtesy of The Cromford Report by Paid Subscription
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