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The One-Minute Market Report: Here’s What’s Happening in Phoenix Scottsdale Area, AZ as of end of February 2018

By
Real Estate Agent with West USA Realty #1

Market status: HOT for Sellers AND Buyers – huge sales month! The market is really picking up and very fast.

 

February 2018 Dollar Value of Homes Sold:  WOW! up 16% from a year ago. Up 12% from last month.

February 2018 Closed Sales: Up 7.7% from last year, up 14% from last month.

February 2018 Average Home Price Sold:  Up 8% from last year to $300,000, up 1% from last month.

 

WHAT’S YOUR HOME REALLY WORTH?

 

February 2018 Average Days On The Market: Down to 73 days, homes are selling as fast as last month.

February 2018 Discount price: About 3.5%. Sellers have an edge, but buyers can still buy with a small discount.

Janaury 2018 Market Numbers: 16,000 active listings on the market (very low!!!), 10,000 new contracts, and about 7,000 sold in the last 30 days. A very low inventory! And high spike in sales of homes!

February 2018 The Total County Absorption Rate: down to 2.5 months of inventory, which means houses are selling fast!! And inventory is being absorbed!

 

Want to know how your city, area code or subdivision or area is doing? Send me an email… at richard@richardbazinet.com   and get your report.

 

SEARCH ‘ALL’ METRO PHOENIX SCOTTSDALE HOMES FOR SALE

 

SEARCH ALL METRO PHOENIX SCOTTSDALE HOMES FOR SALE BY MAP

 

SEARCH SCOTTSDALE HOMES FOR SALE

 

SEARCH PARADISE VALLEY HOMES FOR SALE

 

SEARCH ARCADIA HOMES FOR SALE

 

SEARCH PHOENIX HOMES FOR SALE

 

 

SEARCH FOUNTAIN HILLS HOMES FOR SALE

 

SEARCH RIO VERDE HOMES FOR SALE

 

SEARCH CAVE CREEK & CAREFREE HOMES FOR SALE

 

Richard Bazinet pllc, MBA, CRS, ABR

Smart Real Estate. Sellers, Buyers & Relocation.

www.richardbazinet.com

 

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Posted by

 

RICHARD BAZINET PLLC

MBA,CRS,ABR

West USA Realty

richard@richardbazinet.com

602-300-7007

 

7077 E Marilyn Rd, Bldg 4, Ste 130 

Scottsdale, AZ 85254

 

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Show All Comments Sort:
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Hi Richard... with this pace of sales I'm amazed there is any discount to the ask price. 

Mar 14, 2018 05:54 AM
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

I guess there's always a discount Nina Hollander , assuming that some listings are always over-priced and others where there's a negotiation between parties where the seller is motivated to sell. Thank you for a great observation.

Mar 14, 2018 06:07 AM