It’s that time again folks–here’s our June 2016 Maricopa County Real Estate Update. Market activity has risen sharply in the past 30 days with 8948 sales occurring across the county (all product types included). This graph shows the recent activity over the last three months:
The average days on market has dropped slightly from 80 to 75 while the median sales price has increased to $284,611–this is largely due to much heavier demand in the sub-$300K price range–particularly in Phoenix. With the recent departure of the UK from the European Union, already low rates have dropped even farther. Anyone looking to purchase now or in the very near future should looking into financing–we work with some of the top lenders in the state–find qualified lenders.
This graph highlights the low, average and high sale for all properties sold in the last 30 days:
We expect demand to stay fairly strong in the sub-$300K market across the county–especially for well located, nicely renovated homes. The market at $500K and up is getting crushed right now–demand is very weak. Here is a nice graphic which highlights some stats taken from our MLS for the month of June:
We hope that you enjoyed our Maricopa County real estate update for June 2016. If you need information on the market, a particular community or property, one of our outstanding Luxe agents can help! We hope that you have a safe and fun Fourth of July holiday!