At Nolle Properties we like to provide our followers with the most up-to-date analysis of the current real estate market in metro Phoenix. We encourage you to invite your friends and family to like and follow our Facebook page to stay on top of the local real estate market.
As you can see from the chart above, the current average list price is at $567,536, and the average sale price is $325,455. The list price to sale price is getting just over 98%. That is good news for those of you who have been waiting for the right time to sell. Now is the time to list your house for sale to capitalize on your equity!
The market for homes valued between $450,000 – $600,000 continues to remain on fire! The inventory of these homes on the market continues to remain low and that lack of inventory continues to push prices up.
So, what does this current real estate market mean for you? If you are a seller, this is the time to list your house! The average sale prices of homes are up 15.45% from January of this year alone! Sellers are no longer negotiating as much on contracts which is putting pressure on buyers because there is scarce inventory.
If you are a buyer and there is a house that you like on the market today, you need to act fast! Contact us to go preview properties and be ready to make an offer right away because we are seeing multiple offers being made on homes in the $250,000 – $350,000 range.
For our renters, this is the time you need to make a move! If you have been renting because you have been on the fence deciding whether or not to buy, this is your time to strike! If you are waiting for your perfect home, keep in mind that 80% of your perfect home is 100% better than renting. Your perfect home just may not be out there. Find something that is close to perfect and jump on it because quite frankly, it is not going to be available for sale next week in this market – especially in that $250,000 – $350,000 range.
As always if you have any questions or would like to meet with me, please either email me at dnolle@nolleproperties.com or call me at 602-750-7913.
Nolle Properties 