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The One-Minute Market Report: Here’s What’s Happening in Phoenix Scottsdale Area, AZ as of end of March 2019
Summary:
Home sales are up 31% !!!   Never been better!!
 

  
Values are up 2%
 
Inventory of homes is still low and even lower in March….
 
Days on the market is lower to 71 days.
 
‘If you are planning to sell or buy – you need to consult with me ASAP for the best approach.
 
March 2018 Dollar Value of Homes Sold:  Up 36% from last month
March 2018 Closed Sales: Down 11% from last year, up 32% from last month.
March 2018 Average Home Price Sold:  Up 6.25% from last year, up 2% from last month.
March 2018 Average Days On The Market: Down to 71 days, that’s the issue here: homes are still selling faster
March 2018 Discount price: About 3.5% or so. You see what’s going on here? Sellers have ‘the’ edge, but buyers can still buy with a small discount, but it’s diminishing – it’s tight. Buy and don’t argue too much over price.
 
March 2018 Market Numbers: 18,812 active listings on the market (very, very, very low!!!), Very low inventory, strong sales! The market is still a relatively fast selling market.
Recommendation: It’s time to sell, and it’s also time to buy.
 
March 2018 The Total County Absorption Rate: Stable at 2.6 months of inventory, which means it takes about that time for the inventory to be absorbed. ... more

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