Phoenix Market Update October 17 2019

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Real Estate Agent with Phoenix Property Shoppe AZ Broker BR030809000
https://activerain.com/droplet/5l66

 

Phoenix Market Report October 2019

Phoenix Market Update October 17 2019

The Phoenix real estate market is a fast moving market in most areas. Our market has been steadily going up at a normal pace for several years. This week the median list price for Phoenix, AZ is $389,000 with the market action index hovering around 49. This is an increase over last month's market action index of 48. Inventory has held steady at or around 2288 listings. So what does this all mean?

 

 

Market Action Index

The chart below answers 'How's the Market' by comparing rate of sales versus inventory.

 

Phoenix Strong Sellers Market

 

 

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. And remember, a sellers market doesn't mean every home sells within days on the market with multiple offers! Homes that are properly prepared for market, priced correctly to the current market within your subdivision/location and professionally photographed and marketed, have a higher percentage of selling close to or over the sales price.

 

 

Market Profile

Charts Courtesy of Greystone Title Agency

 

 

 

Are you Relocating to the Phoenix Area? Buying a Phoenix home can be a smooth and stress-free process as well as enjoyable! If you are considering a move to Phoenix our team would be honored to represent you as your Exclusive Buyers Agent. Anna 'Banan' Kruchten is the Owner and Broker of the Phoenix Property Shoppe and is among the top 3% of REALTORS nationwide. Her knowledge, experience and integrity will skillfully guide you through the home buying process and beyond.

 

Check out more blog posts of Anna Banana's to ponder!

 

The Sky is Falling The Sky is Falling

 

Writing a Successful Offer in a Hot Market

 

 

 

Phoenix Market Update October 17 2019

 

Posted by

 


                                                            

 

Anna “Banana” Kruchten

Designated Broker & Owner

Phoenix Property Shoppe

602-380-4886

Certified Residential Broker  CRB

Certified Residential Specilist CRS

AZ DRE Certified Real Estate Instuctor

 

 Your Referrals & Testimonials Are Greatly Appreciated!

 


 

 



 

 

   

 

 

                  

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Rainmaker
120,448
Raymond Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

It looks like a healthy market.  We will be spending some time with my dad in Goodyear for Thanksgiving.  I will have to take a closer look while I am there.  Thank you for the update.

Oct 17, 2019 05:30 PM #1
Rainmaker
1,710,764
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

send us that karma - we are in a softening market - and need some good vibes! 

Oct 17, 2019 06:48 PM #2
Rainmaker
5,081,089
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Anna Banana Kruchten - Phoenix Homes Sales it's all about the price, as you said, even in a sellers' market.... buyers will wait until prices are where they should be.... buyers are very careful unless they're desperate!!

Oct 18, 2019 04:18 AM #3
Rainmaker
3,338,547
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Anna. Buyers select with emotions and then common sense comes in to establish price, sometimes! Enjoy your day!

Oct 18, 2019 06:19 AM #4
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3,399,046
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Another great report, Anna! We are seeing a lot of 'motivated' sellers that aren't so motivated lately! They say they are but, then they list high and wind up having to reduce the price...and increasing their DOM!

When they price it right, it sells right away and for top MARKET dollar (not MIND dollar)!!

Oct 29, 2019 11:25 AM #5
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