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’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