housing market update phoenix: Phoenix Housing Market Update July, 2019 - 07/18/19 10:51 AM
The City of Phoenix consists of just over 1.6 million residents and is estimated to be the most populous city by 2020 in the US.  
This housing market update reflects charts updated to 7/13/19.  
 
The first graph reflects active listings of 3,229, which is lower than any point in time in the last 4 years.  
The Cumulative Days on Market is 60 days, versus 55 days a year ago.  Homes are taking 60 days to sell, but there are fewer of them. If a home is listed for sale in July and it's priced well, it should sell relatively quickly since there are fewer … (2 comments)

housing market update phoenix: Phoenix Housing Market Statistics for 2017 - 01/15/18 07:48 PM
Phoenix housing Market Statistics for 2017 reflect rising prices, falling supply, greater demand, and fewer listings.  But even with the hilly graphs, the market is a fairly balanced market. 
 
If you're a first time home buyer, make sure to consult a seasoned professional as you'll experience multiple offers.   Real estate professionals are working round the clock to make sure that new listings are seen day one when representing buyers.  
 
Sellers know that buyer demand is high and are fairly proud of their list prices.  Cash offers are always king, but if you are a conventional borrower with a strong downpayment you still … (6 comments)

housing market update phoenix: Housing Market Update - Foreclosures - 07/29/16 08:06 AM
It's been a long time since the economic recession brought the housing market crashing down like a freight train.  It's difficult to forget the free fall feeling when not much was selling and foreclosures were climbing in numbers.  That said, it's still a topic I'm asked on occasion.  
 
In the last week, three investors have approached me to talk about doing "fix and flips."  You've heard the term before, but simply put fixing and flipping homes is not a new concept.  But when the housing market tanked and people stopped paying, everything, the supply of homes with smelly interiors and knee … (9 comments)

housing market update phoenix: Phoenix Housing Market - 06/13/16 10:54 AM
A different take on stats - as of June 5, 2016.  Check out this Year over Year view of our Phoenix Housing Market!
 
We're seeing positive signs in Active Listings, Listings Under Contract, and Monthly Median Sales Prices .  Success ratios are 76.7%, showing that 23.3% of listings cancelled or expired.  The end of 2014 showed a 66% ratio, so while 76.7% may seem low, it's actually an increase. As more folks gain equity, those sales are closing.   Home sellers cancel or expire and don't relist for a variety of reasons. Some may be that they wanted more for their sale, … (3 comments)

housing market update phoenix: Housing Market Update April, 2016 - 04/07/16 08:22 AM
Prices continue to rise on a city wide basis.  As you can see from this chart, prices have risen dramatically since the bottom of the market in 2011. 
 
Our month’s supply of inventory has just dropped to 2.5 months as of April 2, 2016.  Demand is picking up for our summer buyers.  We have seasonally different sales cycles with winter visitors purchasing, but most of our sales occur from March to September.   
 
 
Following a very strong March with 9,639 sales,  12% higher than last year.  The Fed has promised a couple of rate hikes this year, so that might be on … (2 comments)

housing market update phoenix: Housing Market Update for Maricopa County - 07/03/15 04:09 AM
Housing Market Update for Maricopa County
 
Part of the American Dream is homeownership.  And it seems that more and more Americans are taking part in that American dream as this Housing Market Update for Maricopa County sales reports shows. 
According to the National Association of Realtors April 2015 report, sales are up 3.5%; prices have risen 7.8%; days it takes to sell a home are down to 64 days from 66; and the number of homes for sale is down 11.7%.
In Maricopa County, Arizona, our sales are up 3.5%; sales prices are up 7.2%;  days on market is down to 81 days … (0 comments)

 
Jan Green, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN (Value Added Service, 602-620-2699) Rainmaker large

Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Scottsdale, AZ

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Value Added Service, 602-620-2699

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