A couple of you have contacted me privately to make sure I'm alright. I've not been as active and visible with my blogging lately, but I'm OK! There's one simple reason for my online absence: I'm completely swamped with home buyers. In fact, I haven't seen this kind of buying activity in about 3 years! And I'm not talking about low end bargain hunters; I'm working with clients looking at large horse properties, waterfont estates, gated commuities, golf course homes ~ especially in Gilbert, Chandler, Mesa, Queen Creek and Phoenix. I've also been dealing with many out-of-state folks as well as local buyers ~ and I cannot remember the last time anybody has asked me if we're "at the bottom" of the market. Smart money is on the move, and they are indeed buying!
For those of you that are 'numbers people', take a good look at the following two charts. Not only will you notice a significant decrease in the number of listings on the market (for 3 months running), but you'll see that we just dropped below 7 months of inventory, a level we haven't seen in perhaps 3 years, with home sales almost doubled from a year ago.
I'm not one to try to prematurely call the bottom of ANY market, but there are several key indicators that are clearly turning positive. Is it possible that we are heading into the year of the turnaround in the great Phoenix area?
Following is a graphic illustration of the current real estate market conditions in the greater Phoenix area, which encompasses the entire Valley of the Sun, including Gilbert, Chandler, Mesa, Queen Creek and Phoenix, Arizona.
Chandler Homes - Gilbert Homes - Mesa Homes - Queen Creek Homes - Phoenix Homes
Data was compiled and provided by the Arizona Regional MLS (ARMLS)
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