🚨 Market Update 🚨
The spring market has brought both relief and uncertainty. Relief for sellers from the downward plunge in home prices but uncertainty for buyers with the rocky interest rates. Here’s a recap of the real estate market in May.
👉 The median sales price in the Metro …
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🚨Market Update🚨
The median sales price in Gilbert jumped up $34,000 over the past month! And pretty much every other metric in market data for the Phoenix Metro area has been improving since the beginning of the year.
Is this due to the typical seasonality of the …
🚨MARKET UPDATE🚨
While prices are still down compared to March of 2022, the free fall in price decline seems to have hit bottom. March was the first month since May of 2022 there was an increase in the median sales price in Gilbert. It was also the first …
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🚨MARKET UPDATE🚨
On March 1st the Cromford Market Report made the bold statement that the real estate market in the Metro Phoenix area hit bottom in December saying,
“The contract ratio for all areas & types has risen above 60. This means we are officially in …
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Market Update
The demand in the Phoenix Metro real estate market has risen causing the highest increase in listings under contract we have ever seen from one month to the next!
Here are some bullet points to summarize the current market at the end of …
For Buyers:
Buyer demand has been more reactive to mortgage rates than normal, but that’s to be expected at the rate of increase we’ve seen this year. In terms of affordability in Greater Phoenix, a household making the median family income should normally be able to afford 60-75% of what’s …
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Historically, the real estate market in Arizona cools down in December and heats back up January through May. This December was no different.
We are BACK TO BALANCE! In November we fell into a full-blown buyer’s market and stayed there for a few weeks. The Cromford Market Report notes …
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Demand is low!
Active listings in the Greater Phoenix Area have grown 187% (6,433 vs 18,467) since November 2021 and 340% (4,197 vs 18,467) since April 2022. From August 2021 to April 2022 the active listing count was stable with few changes. But in April that …
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One-by-One, Most Cities in Greater Phoenix Succumb to a Buyer’s Market
44% of October Sales Involve Seller Paid Concessions to Buyer
For Buyers:
Greater Phoenix as a whole has been in a balanced market since August, but is expected to glide into a buyer’s market by mid-November. Buckeye, Maricopa and …
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While median sales prices have dropped $80K since the peak of the market in May, it’s still up 4.81% over October 2021.
On average, homes in Gilbert are selling for 2% less than list price.
Sellers are now paying a portion …