The Phoenix Area Housing Report in the recent past has shown a very strong sellers market. Now that showings are on hold for a lot of sellers in their occupied homes, we've seen a slow down in showings of homes for April, but that doesn't seem to have stopped sales The price range of $300,000 - $400,000 has moved along at a fairly fast paced sales market.
85024 is located in North Phoenix, just west of Desert Ridge, a planned community, and Desert Ridge Marketplace.
In the current housing market for Phoenix, AZ 85024 homes priced between $300,000 - $400,000 year over year reflects declining inventory. Even with the latest increases to 13 listings we're still lower than any period during the last 4 years.
But has anyone cancelled their listing during this crazy pandemic? According to this chart, we are below last year's cancellations at just 6 as of May 3rd.
How long is it taking to sell homes in 85024 priced between $300,000 - $400,000? According to our charts, homes are selling in 36.5 days for April, 2020. As compared to April, 2015, it took 91 days to sell a home in this price range in 85024. So even though the Days on Market is up from 28 days to 36 days from March to April in this price range, the numbers are still low which should help sellers feel positive about their home sale.
This chart for Weekly Summary Market Conditions is a new chart by subscription to the Cromford Report. This report is for price ranges $300,000 - $400,000 for homes in 85024 and reflects 6 accepted contracts for the last week of April. If you compare week over week, that's a good statistic. People are buying homes again and they are selling fast with rising prices.
If you have questions about these reportts or someone you know is interested in selling their home in the North Phoenix, Scottsdale area, please give me a call!