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This month we are going to add in some pertinent info about the Scottsdale market. Let's dive into our July 2018 Phoenix/Scottsdale real estate market update. First, we'll look at overall numbers for the Phoenix metro area. Currently there are 15804 active listings across the county--similar number to last month and a low figure overall. The average days on market (DOM) for the active inventory is 104. There are 10165 pending listings and since July 1, 2018, there have been 7815 sales--the average DOM for the sales was just 59 (an improvement from the previous month) and the average sale
2018 May/June Real Estate Update For Phoenix Metro Area
Arizona real estate is still selling like hot cakes--here's our 2018 May/June real estate update for the Phoenix Metro area. For the first time in several years, inventory levels dipped below 16,000 units (for all housing types). Currently, the are 15,975 properties for sale across the county and while inventory is very low at some price points and in some areas, other price points are burdened by excess inventory. Distressed inventory remains at just 2%--so, for investors this means fewer deals can be had at below market pricing. In Scottsdale for example, there are just 35 distressed
2018 1st Quarter Market Update + April Stats
The Phoenix real estate market has been bustling since the beginning of this year. Check out our 2018 1st quarter market update plus some info on April housing stats. As of May 7, 2018, there are approximately 16,400 active real estate listings across Maricopa County. There are 12870 pending listings and since January 1 of this year, there have been 33742 sales--compare this to 32603 for the same period in 2017. While inventor remains low, there are still plenty of nice homes available in and around the Phoenix metro area. The median sale price has increased since 2017. The median home
2018 Phoenix Real Estate Market Outlook
With a few months under our belt, here is our 2018 Phoenix real estate market outlook. First, what's been going on so far. As of today, there are 17,578 properties actively listed for sale, 12,279 under contract and 10,849 sold since January first--what does this mean? It means we are off to a good start in terms of activity as compared to last year. In 2017, there were 7,986 sales per month on average. When the final sales figures hit for February, we'll have far eclipsed that average figure--keep in mind that our market goes through cycles throughout the year and that activity typically
YTD 2017 Maricopa County Real Estate Update
With the end of the year approaching, it's time for our 2017 YTD Maricopa County Real Estate Update. Let's to do this. The key number for agents is the active listing inventory--this is the number of all homes, condo's, town homes, etc available--that number is approximately 17,800--a 700 unit decline from last months already low figure. A decline at the end of the year is not unusual because many folks hesitate to list their home for sale in December. We expect inventory to begin to rise again around mid-January. The average days on market for active listings has dropped slightly to
Nov 2017 Real Estate Market Update Maricopa County
We've reached the end of November so now it's time for our Nov 2017 real estate market update for Maricopa County. Let's jump right into the numbers: As of November 30, 2017, there are 18,531 active listings across the county--this is a fairly small number for the Phoenix metro area, but not so small that demand is driving prices sky high. 13,000 units are priced under $499,000--approx $3000 are priced from $500K to $1M and a few thousand homes are priced from $1M+--the market above $400K (in most parts of the county) has stalled with the average days on market (DOM) for active listings
Oct 2017 Real Estate Market Update Maricopa County
With the month coming to an end, it's time for our Oct 2017 real estate market update for Maricopa County. Let's dive right in. Current active inventory levels for all housing types is hovering around 19,000 units--this is up slightly from last month, but still lower than what would be considered "normal" for a market our size. There are approximately 10,000 pending sales and since Oct 1, 2017, there have been 6372 closed transactions. To see how market trends compare to last month, check out our September market update. This graph shows Market Activity for the past three
Home Buyer Lending Guideline Cheat sheet
Check out our home buyer lending guideline cheat sheet before you purchase your next home! Let's begin by looking at one of the most important lending factors--your FICO score. The FICO score requirement will vary based upon the type of loan--always consult with a reputable lender before beginning the home buying process. The FICO score required may also vary depending upon the amount of the down payment: 2017/2018 FICO Requirements (subject to change) Conventional loan: 620 Jumbo loan: 680 FHA: 580 VA: 580 Note: Consult with your lender regarding jumbo loans that allow for less than a
10 Signs You Are Buying The Wrong Luxury Condo
By Victoria Hemington Performing due diligence before purchasing a Scottsdale luxury condo is only right considering the money involved. And if your due diligence yields warning signs that the luxury condo you’re eyeing may not be the right one for you, you should heed them by all means. More often than not, signs like the ones listed below are usually good indicators that there is something wrong with the luxury condo you’re about to buy. Problems with the city’s planning department A city’s planning department is responsible for, among other things, the long range development of a city.
Sept 2017 Real Estate Market Update Maricopa County
Here's our Sept 2017 real estate market update for Maricopa County. Inventory levels often determine market conditions and the available inventory remains steady (though low) at around 17,700 units. Sales activity picked up slightly in August from July figures--with a three percent increase in closed transactions (for all housing types). Currently there are 10,400 pending sales which is similar to contract activity 30 days ago. The average days on market for sold homes has gone up slightly to 67--while the average dollars per square foot obtained at sale remains $146. This graph shows
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