ALL DATA BELOW IS PROVIDED BY ARMLS®, COPYRIGHT 2021
ALL DATA BELOW IS PROVIDED BY ARMLS®, COPYRIGHT 2021
Total monthly home sales are down month over month. This is a seasonal pattern of decline that we see almost every year.
New inventory is down slightly month-over-month.
Our total inventory for the Phoenix real estate market is down month-over-month, after a slight and hopeful tick upward in April.
Homes under contract continue to be steady, measuring out at 11,859 units in May.
The median list price in the Phoenix area jumped considerably month-over-month to $489,00. This is an indication that there is still low supply and high demand in Arizona.
The median sales price, measured at $390,000, continues to climb as the Valley struggles with it’s low housing inventory.
We’re still hovering at half a month’s worth of inventory, as buying demand remains steady.
Now that you’ve learned how to navigate your MLS home search, it’s time to take a look at your Arizona MLS home search portal.
Don’t have a home search set up yet? Click here to get your home search set up by a real estate professional. No cost or obligation to you.
View the video below to learn how to navigate your Arizona MLS home search portal.
From inside your Arizona MLS home search portal, you can:
Of course, if you’d like to explore the Arizona MLS and search just like an agent, you can do that here.
Learn how to search the Arizona MLS here:
Learn How To Search The Arizona MLSWatch the video below to learn how to search the Arizona MLS with your mobile phone or tablet.
At www.SearchMyAZHome.com you will find the latest and most up to date information on homes for sale in Chandler, Gilbert, Mesa, Queen Creek, San Tan Valley, Tempe and all other cities in the Phoenix Metro area.
If you’re just starting your home search, you can find great home buying information here.
Would you like an expert to set up your home search for you? Click here and let us know what you’re looking for in a home. We’ll get your search set up and sent to you right away!
Are you a first time home buyer? Have you bought and sold many times in the past?
If so, you probably know that many of the major real estate search engine websites that let you search the MLS hold on to old sales data. – That means that you could spend countless hours looking at homes “for sale” that have already been sold!
Your solution? Get your information straight from the MLS. That’s what we offer you here: www.SearchMyAZHome.com.
With our home search app, you receive a live link to search the MLS at your hearts content, 24/7.
Start your search here: www.SearchMyAZHome.com
Another fantastic interior and exterior remodel. New exterior finish and paint. Complete interior remodel. Beautiful 12” wide plank tiling, new interior trim and paint. New doors, hardware and fixtures throughout the home! Brand new custom made kitchen cabinetry, granite counter tops and new appliances. You have to see this kitchen in person! This 4 bedroom home boasts brand new bathrooms, with a master shower that has stone flooring. Walk in master closet. Brand new dual pane windows, to help with energy efficiency. Top it all off with a gigantic cul-de-sac (not a through street) lot, at just above 17,000 square feet! Plenty of room in back to park your RV or toys and put in the pool of your dreams.
Homes sales in the Phoenix area are down, predictably, year over year. This continues to signify a lower buyer demand for homes in the Valley.
New inventory for resale homes is down and should start to flatten out as we move closer to summer.
Total inventory for resale homes remains flat month over month, up almost 50% year over year.
While home buying demand is still down, we are seeing fewer and fewer distressed sales each month. This is a great indication of the real estate market getting healthier overall. 90% of homes sold in the Valley are normal sales.
We are seeing what appears to be a balancing of the market, with monthly supply staying under 4 months and days on market flattening out.
Buyer demand continues to be a question mark in the current real estate market. There is definitely potential for a greater influx of home buyers:
We can only wait and see what factors will come into play that will help these potential buyers to decide to enter the real estate market and purchase a home.
How do you find the home that is right for you?
Just beginning your home search?
Or… Have you been researching the real estate market or looking at homes online for a while now?
There are many different things to consider about your future home as you start on the path to ownership. Things like:
And the list goes on…
While all of these items of consideration are extremely important to your buying decisions, there is one other item that is of utmost importance. This item will be a large factor that will help to shape the entire course of your journey.
What can you afford?
Depending on where you are in the buying process right now, the actual purchase price of your future home may or may not be your biggest consideration.
We think it should be. Just for right now.
In our many years of experience, we have come to learn that many buyers spend countless hours searching for and researching homes online, before they even know their price range.
The pendulum swings both ways when it comes to searching for and qualifying for a home. Many times buyers qualify for much more than what they think they can. Other times buyers are setting their sites on homes that are just out of their reach.
We want you to be the smarter home buyer.
We want you to work more efficiently with your time throughout your home buying journey, because buying a home shouldn’t take any more of your precious time than necessary.
Figuring out your purchasing price range early on in the home buying process will help keep you focused in on your target and keep you from looking at homes that don’t fit within your needs.
It really depends on what stage you are in the home buying process as to how you should go about figuring out your price range.
If you are less than a year away from purchasing a home, then now is the time to consult a mortgage lender.
It’s critical to speak with a mortgage professional. They have the expertise to help you understand where you stand in regards to your credit and finances. They can give you the road map you need to have your financial affairs in order, so that when it’s time to make an offer on your dream home, you are ready!
If you are over a year from purchasing a home, you’re probably fine with using a good mortgage calculator to see where you fit in.
If you are currently renting, are comfortable with the monthly rent payment and it is within your means, then you can just work the numbers backward to see what your potential purchase price would be. Once you’ve done that, you can feel pretty good that the homes you are researching and looking for are right for you!
Check out this quick video on how to use a mortgage calculator to figure out your home buying price range.
In the previous post, 1 Click To Instant Access, you gained direct access to the coveted “real time” sales data for the real estate market. This live information gives you the advantage over your average buyer, who regularly relies on old information from bigger “3rd party” websites.
Having the latest sales data is just the beginning and a key building block to your home purchase success.
It is critical that you put this information into perspective.
A great by-product of having this home buying and selling information at your fingertips is the fact that you can actually track it’s history. By looking at the past real estate market, you will gain greater insight on how things are today.
If you have been researching the real estate market for a while now, you might have picked up a feel for the current climate.
If you’re just now jumping into the real estate market, sometimes taking in so much information at once can feel like drinking from a fire hose. It can be very difficult to keep anything, much less the sales numbers and averages straight.
With that in mind, we have compiled all of the numbers for you and put them into easy to understand charts.
Getting to know the real estate market here in the Phoenix Metro area is very simple, now that you have us on your side.
Every month, we post the historical sales data from the Arizona Regional Multiple Listing Service right here on our site. This market report will help you understand the current real estate market climate.
Click here to see our latest installment of our monthly real estate market updates.
With our Multiple Listing Service home search tool and our monthly market statistics, you will quickly understand the reality of your real estate market.
In very little time, you’ll probably know more about the real estate market in Phoenix than many agents do!
To your success.
See October 2013 Real Estate Statistics Here
August 2013 Real Estate Statistics – Monthly Sales for the August 2013 report (July numbers), almost a 15% rise year over year. Sales have leveled, month to month, which is typically expected, this time of year.
Total inventory is beginning to rise on a monthly basis, as shown here, with total active and active under contract homes.
As of today, the total number of single family homes for sale in the Phoenix metro area that are not under contract is 14,526. The total number of homes for sale in the Valley that are not under contract is 18,159.
Total months supply of homes for sale in Phoenix is still at an amazing low of 2.85, although it is beginning to creep up, as inventory rises.
As the average list price might suggest, we may start to see some leveling off of list prices as our inventory begins to rise.
We have had a very healthy run of sales price increases for some time now. Again, as inventory rises, we may start to see some leveling off of closed sales.
Pending foreclosures in Phoenix, continue their steady decline, as we make our way back into a more balanced, healthy market.
This is an overview of the health of the Phoenix, Arizona real estate market. Click here for the full report. If you would like to learn more about your own market area, such as the city or town that you live in (Chandler, Gilbert, Mesa, Queen Creek, etc…) or even the market statistics for your subdivsion, please let us know. Just click below and we will help you become more informed.
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