Prices of houses sold are up from a year ago. Average sold price is up 64.31%. Also, the median sold price is up from May 2012 with a 33.07% increase. These statistics show a slow but steady incline and its beginning to look better for the housing market. Who doesn’t want to live in Paradise!
The housing trend continues! Sales and Median Home Prices are UP! Time to list your home for sale.
This is the 6th straight month of positive news for homeowner’s in the Valley. The Phoenix metro area is showing stable signs of growth with new contracts up 32%, closings up 12% and most importantly median home sales prices up 21%. Tack on the low inventory of homes for sale and you have a recipe for a great sellers market.
If you or someone you know if looking to buy or sell a home in Phoenix, Scottsdale, Paradise Valley and other Valley communities, feel free to call the Szabo Group.
Phoenix Metro Real Estate sales are up 7.8%!
Things are heating up in the Valley and it’s not just the over 100 degree temperatures!
Great news for Phoenix, Scottsdale, Paradise Valley and other Valley residents. The sales growth trend has not slowed down!
As of May 2013 sales in the Phoenix Metropolitan area are up 7.8% to 9,436.
Some additional good news… Distressed properties in the area are DOWN to 22% of total sales. Quite a change from the recent years.
Phoenix and Scottsdale Real Estate Sales are UP and inventory is DOWN! Great time to list your home for sale!
SALES Month over Month
May sales increased 7.8% to 9,436, following the steady, upward sales trend line begun in January. Sales above 9,000 were last seen 11 months ago in June 2012 (9,129).
SALES Year over Year
Sales were up 11.8% over the same metric in 2012. May’s figure (9,436) is the highest since June 2011 when sales hit a record 11,125, the highest sales figure of the decade.
NEW INVENTORY
New inventory fell slightly by 0.3% to 9,842. May’s figure is 8% above the 12-month average of 9,114.
TOTAL INVENTORY
Total inventory dropped by 1.7% in May to land at 19,734. This metric has fallen 7 out of the last 12 months, averaging -0.14% per month over the last 12 months. This is the first time total inventory has slipped below 20,000 since June 2012.
The Valley’s real estate market is continuing to show signs of recovery. With the increased sales activity (7.8% increase) and pricing metrics showing gains: median list price +2.5%, median sales price +1.7% and average sales price +4.4%, May will mark the six month of advancement at a steady pace.
On top of this progress we are also seeing real estate inventory decline which has aided the price up-tick. Times are changing!
If you, or someone you know, have been considering selling your home there is no better time than now! Call Joe and Linda Szabo for a free market evaluation.
Phoenix and Scottsdale Area Communities Map
Home Sales are Up!! Arizona Market Update – New VS. Sold Listings
More great news for the Grand Canyon state. Since January home sales have exponentially increased month over month. While listings are slowly starting to increase as well, the sales numbers are painting a picture for what could be the best year for Arizona, Scottsdale, Phoenix real estate since 2005/2006.
If you’ve been considering selling your home, feel free to reach out and see how The Szabo Group can help!
Phoenix Real Estate Market Update – Inventory Down and List Prices Up! Great time to list your home for sale.
It’s a great time to list your home for sale in the Phoenix area! There are fewer homes available on the market and list prices are increasing. All areas are affected including Scottsdale, Paradise Valley, Carefree, Arcadia and more.
Phoenix Inventory
“Phoenix’s housing inventory has decreased not only when compared to March 2013, but to the previous year. Currently, the total number of homes on the market totals 2,693. This is a 5 percent drop from a month ago when the total number of homes on the market totaled 2,824. When compared to a year ago, we see a 32 percent decrease at 3,986 homes on the market. With the lower supply in inventory, this is yet another indicator that the housing inventory is in an upswing.” (Source: Moveto.com)
Phoenix List Prices
“Phoenix experienced a tremendous jump in the median home list price over the last year. A year ago, the median home list price was 139,900. As of April 6, the median home list price was $214,000. This is jump of 54 percent. When compared to a month ago, the median home list price is up eight percent when the median list price was $199,900.
The median house size has also jumped, but nothing like the median list price. Currently, the median house size on the market is 1,173 square feet. That is a 1 percent jump from last month when the median house size was at 1,699 square feet. When compared to a year ago, we see a 3 percent increase when the median house size was then 1,670.
The median price per square foot has jumped, as well. The current median price per square foot is at $123 square foot. This is a 4 percent increase from March 2013 when the median price per square foot was $123. When compared to the previous year, we see a 45 percent increase when the median price per square foot was then $85.
New listings are also climbing. New listings figures for March 2013 total 2,284. When we look at September 2012 new listing figures total 2,129. December 2012 show the total amount of new listings to be 1,474.” (Source: Moveto.com)
With incredibly low interest rates and favorable market conditions now is a perfect time for homeowner’s who’ve been sitting on the fence for the market to recover.
If you are have been thinking about listing your home for sale, please give us a call for a free market analysis on your home. Or visit www.AZLuxuryHomes.com or www.ScottsdaleRealEstateTeam.com for more information.
Joe and Linda Szabo