September 2020 Phoenix Real Estate Market Update

By
Real Estate Agent with HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 SA585680000

Quick summary of the video's major points about the Phoenix Real Estate Market Update for September 2020.

35% of all sales close over asking price, twice as many compared to last month.

The biggest impact is in the $200-400,000 price range. The market continues to favor Sellers.

One interesting trend is seeing people moving away from population-dense areas.

Builders are finally catching up with the need for new construction - in single family and multifamily.

The market is constantly changing and a market advisor like me helps Buyers and Sellers navigate it successfully.

If you liked this video, please subscribe on my YouTube Channel, or visit my web-site, https://www.talktosteffy.com, where I redularly publish market observations about Phoenix real estate.

Posted by

Steffy Hristova, MBA, SFR, CNE, Realtor®

HomeSmart Elite Group
Tel:  (480) 966-9353

10601  N. Hayden Rd. I-100
Scottsdale AZ 85260

                                                           http://www.talktosteffy.com                                                               

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Comments (25)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Steffy I always love it when I see a Great Market Report, keep telling myself "note to self time to do something like this"  sadly it seldom happens, Endre

Oct 01, 2020 10:00 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Endre Barath, Jr. , I wish I could learn how to create the market reports faster, too. I manage to publish at least one per month. I also subscribe to a market analysis company for the Phoenix market only, Cromford Report, and it's a great resource for the major trends. 

Oct 02, 2020 06:40 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local real estate reports.

Take care, be safe and have a great day.

Oct 02, 2020 07:11 AM
Steffy Hristova

Thanks, Roy Kelley . I hope yours is warm and sunny, too.

Oct 05, 2020 07:43 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes it is hard, half of me wants to auto-post the ones that are available but then I keep telling myself it is not truly as accurate as if I did it...Endre

Oct 03, 2020 10:44 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Steffy Hristova - WOW! What an impressive improvement your video makes compared to just reading the market report. I thought it was excellent!

Oct 05, 2020 05:45 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Patricia Feager, MBA, CRS, GRI,MRP , thanks very much for your nice comment and for watching the video. I try to make the text as short as possible; visuals always speak faster to the reader.

Oct 05, 2020 07:36 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Endre Barath, Jr. , I always feel the same way. We are very fortunate in Phoenix to have the Cromford Report team - the founder is a PhD in mathematics and the main analyst has a computer science degree. They do a fantastic analysis on the major trends, I drill down to the neighborhoods, and cut the MLS data in a way that I need it. They  monitor/analyze in depth only the Phoenix market. 

Oct 05, 2020 07:42 PM
Shannon Jones
The Shannon Jones Team - Long Beach, CA
Long Beach CA Real Estate

Wow! The Phoenix market is HOT!

Oct 07, 2020 09:33 AM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Shannon Jones , it hot and getting hotter as the weather cools down. Thanks for stopping by.

Oct 07, 2020 07:54 PM
Gregory Manns
HomeSmart Professionals Elite Group - Palm Springs / La Quinta, CA - Indio, CA
Palm Springs Area Realtor HomeSmart Professionals

Hi Steffy,

This truly is a super impressive market report and incredible to see the high demand and percent of homes selling over asking. Thank you for sharing and raising the bar.

Oct 07, 2020 09:27 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Gregory Manns , the numbers of the Phoenix real estate market keep telling us stories which keep us saying 'wow' over and over. Visualization is so much easier nowadays. 

Oct 09, 2020 06:37 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Steffy and Thank for sharing your market report with us here in the Rain.  Always good to learn what is happening in other area.

 

Oct 12, 2020 08:47 AM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Will Hamm , thanks for stopping by. The market is busy, we had an inspection done yesterday on one of my transactions, and the home inspector said that he is doing 3 inspections per day, and has to work on Saturdays, too, to meet demand. And the friendly weather is just starting. 

Oct 12, 2020 09:39 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Steffy Hristova - your video makes a big difference from just showing stats.  Certainly the strong demand in the 200,000 - 400,000 is driving over asking price.

Oct 13, 2020 04:01 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Steffy, nice to see you are still enjoying a good market, and the sweet spot is $200-$400,000.

Oct 14, 2020 07:01 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

It appears your market is similar to our market, Steffy Hristova ...not enough inventory for the many buyers seeking new homes.

Oct 24, 2020 06:00 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Grant Schneider , I agree - video somehow makes it easier to visualize and hear the trends. Thanks for stopping by.

Oct 24, 2020 07:04 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi Joan Cox , yes lots of demand and the slight increase in ventory is quickly absorbed. I was looking at a chart of absorption rates and affordability, and one called "What is a normal market" - it seems in 2017 we were close to a normal market, and since then, the market has been favoring Sellers.

Oct 25, 2020 08:00 AM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Hi John Juarez , I think in the Fremont area, you, too have some more land to grow. In Phoenix metro the new construction permits finally are catching up with demand, and that helps the resale market, too.

Oct 25, 2020 08:01 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Steffy, are you rather lucky to have even close to a stable market, we have seen a very strong seller's market for 9 years now! 

Oct 25, 2020 08:45 AM