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

By
Real Estate Agent with West USA Realty

Market status: We are still a tight market with very low inventory. Even with even sales for end of December 2018 in comparison to November – the market is still HOT for both Sellers AND Buyers. It’s a great time to buy and sell. And in some price points under $450,000, it’s becoming increasingly difficult to find some homes!

The biggest market problem right now: overall lack of inventory.

9% less homes sold in 2018 vs 2017. But as mentioned, fewer homes are also listed for sale.

Home value gains for 2018 was about 6.25%. This is excellent.

 

‘If you are planning to sell or buy – you need to consult with me ASAP for the best approach.

 

December 2018 Dollar Value of Homes Sold:  Down 3.5 % from a year ago. Even with last month. This is normal for December – the seasonality of the year.

December 2018 Closed Sales: Down 9% from last year, down 1.5% from last month.

December 2018 Average Home Price Sold:  Up 6.25% for the year 2018. But the median sold price is up to $261,000 and the average home sold to $326,646 which now shows upward pressure on pricing.

 

WHAT’S YOUR HOME REALLY WORTH?

 

December 2018 Average Days On The Market: Up to 66 days, that’s the issue here: homes are still selling fast – but somewhat a tad slower.

December 2018 Discount price: About 3.5% or so. You see what’s going on here? Sellers have ‘the’ edge, but buyers can still buy with a small discount, but it’s diminishing – it’s tight. Buy and don’t argue too much over price.

December 2018 Market Numbers: 18,250 active listings on the market (very, very, very low!!!), 5,000 + or so new contracts, and about 6,000 sold in the last 30 days. Very low inventory, strong sales! The market is still a relatively fast selling market.

Recommendation: It’s time to sell, and it’s also time to buy.

December 2018 The Total County Absorption Rate: Stable at 2.5v months of inventory, which means it takes about that time for the inventory to be 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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Rainmaker
4,432,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jan 10, 2019 03:57 PM #1
Rainmaker
778,676
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Beautiful stuff there! 💪

Jan 10, 2019 03:59 PM #2
Rainmaker
3,324,453
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Sounds  like thinventory in action !

Jan 10, 2019 07:43 PM #3
Rainmaker
1,150,456
Joyce Marsh
Regal | Christie's International Real Estate - Ormond Beach, FL
Regal Christie's International Real Estate

It is very important to stay on top of current market trends. Thanks for the information.

Jan 11, 2019 12:25 AM #4
Rainer
534,275
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties sold.

Jan 11, 2019 02:45 AM #5
Rainmaker
705,458
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Thank you Joyce Marsh, Daytona Ormond Beach Florida , for the comments and stopping by, appreciate it.

Jan 11, 2019 05:37 AM #6
Rainmaker
705,458
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Morning Candice A. Donofrio , not sure how beautiful it is, hope it helps!

Jan 11, 2019 05:38 AM #7
Ambassador
3,548,971
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

We are in a very similar market, Richard! I'm happy to have had one listing appointment today and two on the books for tomorrow - we need listings desperately and sellers are finally getting on the bandwagon here!

Happy Monday!

Jan 28, 2019 10:09 AM #8
Rainmaker
705,458
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Send some over Debe Maxwell, CRS . Can always use a few more...

Jan 28, 2019 10:50 AM #9
Rainmaker
2,113,533
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Richard Bazinet /MBA, CRS, ABR - It was fun to read Jan Green post of her meet-ups in Phoenix and so nice to see you in that photograph too!

I wish you all the best and many more mini-meet-ups!

Feb 27, 2019 09:23 AM #10
Rainmaker
993,880
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great reporting Richard.  You know the market well in Scottsdale!

Feb 27, 2019 09:21 PM #11
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Rainmaker
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Richard Bazinet /MBA, CRS, ABR

Phoenix Scottsdale. Sellers, Buyers & Relocations
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