Real Estate sales in August 2014 outpaced sales in 2013 with 72 sales as compared to 59 in August 2013, a 22% increase. However, on a year to date (YTD) basis sales continue to lag behind 2013 with 686 sales as compared to 833 for the same time period last year, a nearly 18% decrease.
The slow sales are definitely having an impact on the "absorption rate" which has to do with demand. It is the rate at which the market absorbs the inventory of homes that are for sale--in other words how fast are homebuyers buying the homes that are available. In August the absorption rate was 10.85 YTD. According to the National Association of Realtors, a Seller's market occurs when there are less than 6 months of inventory on the market and a Buyer's market when there are more than 6 months of inventory on on the market. In other words, the greater Green Valley AZ real estate market is still very much a Buyer's market.
If you are thinking about selling your Green Valley AZ home give me a call, I'd love to hang an Another SOLD By Judi in front of YOUR house. With more than forty-five of my listings selling in 2013--and 47 are already under contract or sold in 2014, including 2 that were on the market less than a week--I'd love to make yours the next one. My extremely successful marketing plan WORKS...let me prove it to you.