The Phoenix Housing Market Update for 11/30/17 reflects continuing strong sale results. Overall, our Inventory is down 11.5% year over year for November. Months supply stands at 3.09; distressed sales number 2% of total sales; average days on market is 69; with a median sales price expected to be $243,000 for December.
This data mimics many national sales results around the country. Low inventory, strong sellers market, and rising prices. For buyers under $350,000, act fast or be left out! For sellers, be prepared for the onslaught of multiple offers. And if this isn't happening for you under $350,000, then you're doing it wrong.
2018 promises to be a strong year. More will be written about that in another post. Interest rates recently ticked upward so if you haven't purchased a house or refinanced your mortgage, there's no better time than the present to seal up a low interest rate.
If you're looking to buy or sell a home in Maricopa County, please give me a call. You'll receive prompt, reliable service