It is typical for the number of home sales to dip during the hot summer months in Phoenix. This is considered our "off season". While other parts of the country slow down in the winter because of the cold, snowy weather, we slow down in the summer because people aren't out and about looking for homes and sweating in the hot summer heat. Across the range of home prices you see a decline in the Continue Reading
June 2015 Metro Phoenix Area Real Estate Report
There has been a lot of buzz and activity in the Phoenix real estate market recently. Millennials and boomerang buyers have started buying. A metric we can use to gauge if we are in a seller's or buyer's market is absorption rate*. The absorption rate is the rate at which homes are being sold in an area. The higher the absorption rate, the quicker homes are selling. Absorption rates above 20% are Continue Reading
Phoenix Area Real Estate Market Update: 5/4/15 – 5/10/15
There are currently 3,740 Phoenix homes for sale, 2,660 in Scottsdale and 421 in Paradise Valley. Those 3,740 homes for sale in Phoenix have been on the market an average of 85 days and the median list price is $299,999 while the weighted average price per square foot is $176.64. Phoenix area home sales activity during 5/4/15 to 5/10/15: Phoenix: The median sales price for 299 single family Continue Reading
April 2015 Metro Phoenix Area Real Estate Report
We just love analyzing the market; both in crunching the data and actually seeing the inventory in person. Doing so gives really great insight into how to position yourself as a homebuyer or seller in the Phoenix real estate market. Here is our synopsis of key numbers in the Phoenix real estate market for April 2015 (all sales analyzed were for single family detached homes): The median home Continue Reading
Phoenix Area Real Estate Market Update: 4/20/15 – 4/26/15
There are currently 3,882 Phoenix homes for sale, 2,647 in Scottsdale and 434 in Paradise Valley. Those 3,882 homes for sale in Phoenix have been on the market an average of 86 days and the median list price is $299,900 while the weighted average price per square foot is $176.59. Phoenix area home sales activity during 4/20/15 to 4/26/15: Phoenix: The median sales price for 293 single family Continue Reading
March 2015 Metro Phoenix Area Real Estate Report
The graph above tells an interesting story (you can click it to enlarge it). It paints a picture of all the homes that are currently listed as well as the number sold in the last 30, 60 and 90 days in Phoenix. What is interesting is that you can see how the lower priced homes are "hot" right now. The green columns represent the number of active listings. If the red column (number of homes sold in Continue Reading
