This year has been a rough year for so many people, and despite a pandemic, hurricanes, fires, elections, the Phoenix real estate market is thriving.
Real Estate Sales Volume year-to-date through October has exceeded 32 billion dollars, valleywide. This is 14% higher than the sales volume last year this time.
Prices have significantly increased this year but the biggest surprise that is impacting the Valley is the mix of homes sold.
Luxury market sales - that is homes sold over one million dollars - have increased 49% over 2019.
First-time home buyers and investors, who are looking for homes priced under $250,000 have fewer choices, however.
Demand is far higher than supply, helping new listings sell faster.
If you currently own a home, you probably get phone calls and letters from investors, looking to buy for cash. Before making any decision to buy or sell your home, please give me a call. Navigating this ever-changing market takes a full-time realtor who understands the market and is committed to helping you achieve your goals.
Please call me at 480-966-9353, Steffy Hristova with HomeSmart Elite Group.