Special offer

Metro Phoenix Real Estate City Wide Market Report October 2014

By
Real Estate Agent with HomeSmart Real Estate AZ Broker BR030809000

 Metro Phoenix Real Estate City Wide Market Report October 201

 

The Phoenix Metro Real Estate Market has 'cooled' off  just a bit. Find your city in the chart below and compare the Sold Sept 2014 column to the Sold Last Year column and you'll see the current real estate 'temperature' in your area. You'll see that there isn't a significant difference between last year September sales and this years September sales. The numbers tell the real story.

 

What is different in the Phoenix Metro Real Estate Market?  The Days on Market column shows a different story from city to city.  Last September homes were flying off the market as quickly as we could get them listed, many with multiple offers.  This year most homes are staying on the market longer with buyers having a larger pool of inventory to chose from. There were 19,682 Active Listings  in September 2014 which is up 600 Active Listings from  just last month.

 

Digging deeper I discovered that there are 4,900 MORE
Active Listings this year than last September 2013

 

What does this mean for Phoenix Metro Home Buyers?  It means demand is down and home buyers are sitting on the fence longer than they did last year at this time to purchase a home. With more listings to chose from they don't feel the urgency to make an offer as quickly in most cases, and that may be a good thing. It's good to be able to 'sleep on it' and not have to make a quick decision when it comes to, most likely, the biggest financial decision they'll make in their lifetime.

 

What does this mean for Phoenix Metro Home Sellers?  It means that it's extremely important to make sure your home is 'parade ready' before it goes on the market, that your agent has a professional photos for online marketing (which is where well over 90% of buyers begin their home search) and that your home is priced according to the market stats in your neighborhood.  Be prepared to be patient.  And it's possible you many need to adjust your listing price at some point if there has been no offers on the table. Also, remember that generally the Phoenix Metro real estate market picks up speed from mid-October on due to our fabulous weather and our winter visitors.

 

See YOUR CITY  Real Estate Stats Below!

 

Phoenix AZ (Maricopa County) Real Estate Market Report Septemer 2014.

 

If you would like to discuss buying or selling your home give me, Anna 'Banana' Kruchten a call today. My Business Philosophy is about creating trusting relationships, taking excellent care of my clients and offering current, relevant and expert real estate advice. I take pride in going above and beyond for my clients.

 

 Metro Phoenix Real Estate City Wide Market Report October 201

 

Orginally published at Phoenix Property Shoppe

 

 

Posted by

Comments (12)

Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Anna

The greater Phoenix area real estate market remains an active real estate market.

Good luck and success.

Lou Ludwig

Oct 14, 2014 10:07 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Anna Banana, Great report for both buyers and sellers, hope they call you.

Oct 14, 2014 10:08 AM
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Excellent post that clearly illustrates what it going on in the Phoenix real estate market these days.  It sounds a lot like our market and our refrain is the same: you must be show ready and priced right if you want to sell. 

Oct 14, 2014 10:33 AM
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Hey Anna, I am glad to hear you are in a good and continuing to improve market

Oct 14, 2014 10:44 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Lou thanks for stopping by. Indeed Phoenix Metro is a very active market.

Oct 14, 2014 12:06 PM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Will thanks! 

Oct 14, 2014 12:07 PM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Susan it's interesting to follow the market as closely as we do. These slight changes can make a big difference in how we approach selling or buying.

Oct 14, 2014 12:08 PM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

David yes doing great and getting better every day!  Thanks for stopping by!

Oct 14, 2014 12:09 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

My question Anna  is it still being perceived as a foreign buyers market

Oct 14, 2014 02:29 PM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Paul Henderson yes it is as we are a resort destination that is in high demand.

Oct 14, 2014 02:41 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Anna, interesting comparisons. Understanding the market in this depth leaves you hign above your competition. Enjoy your day!

Oct 14, 2014 07:24 PM
Broker Patty Da Silva Da Silva
Green Realty Properties® - 954-667-7253 - Cooper City, FL
Top Listing Broker

Interesting report Anna. Thanks for sharing, have a wonderful day!

Oct 15, 2014 01:53 AM