The One-Minute Market Report: Here’s What’s Happening in Phoenix Scottsdale Area, AZ as of end of March 2018
Market status: HOT for Sellers AND Buyers – huge sales month! The market is on fire!!! Hot, Hot, Hot….🔥
March 2018 Dollar Value of Homes Sold: WOW! up 12% from a year ago. Up 40% from last month.
March 2018 Closed Sales: Up 2.5% from last year, up 36% from last month.
March 2018 Average Home Price Sold: Up 10% from last year to $305,000, up 1.5% from last month.
WHAT’S YOUR HOME REALLY WORTH?
March 2018 Average Days On The Market: Down to 69 days, homes are selling faster as last month.
March 2018 Discount price: About 2.8%. Sellers have an edge, but buyers can still buy with a small discount, but it’s diminishing.
March 2018 Market Numbers: 16,900 active listings on the market (very low!!!), 10,300 new contracts, and about 8,800 sold in the last 30 days. A very low inventory! And high spike in sales of homes! The market is red hot!!!
March 2018 The Total County Absorption Rate: down to 2.4 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.
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Richard Bazinet pllc, MBA, CRS, ABR
Smart Real Estate. Sellers, Buyers & Relocation.
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