South Phoenix home values 2017

South Phoenix home values is a weekly article given you updates on the South Phoenix real estate market trends.  We will look at activity over the course of the last 30 days to see what trends we can see and also look at current values homes are selling at on the market.

South Phoenix is also the area commonly called South Mountain or even the Baseline corridor.  South Phoenix extends from the Rio Salado on th North to the South Mountain Preserve on the south.  It also extends from the I-10 interstate (or for some that want to get super exact 48th St) to about 27th Ave on the West side.  The area is made up of the 85042,85041,85040 zip codes.

As far as housing in the area, one can find a little bit of everything.  South Phoenix offers several gated communities, several golf course communities, several newer subdivision homes, many older subdivision homes, homes with HOA, homes without HOA, homes that have irrigated land, homes with acreage, homes with horse priveledges, desert property homes and maybe some others I may have missed.  If your looking to buy a home in South Phoenix, I have made some links for specific community types and you can view those here.

Below find weekly South Phoenix Home Values updates

June 19th, 2017

Find below the latest information on South Phoenix home values and sales, along with a brief commentary:

296 properties currently for sale

258 properties under contract

176 properties sold last 30 days

1.68 months current inventory level

$120.77 was average $/sq foot for homes sold

$223,506 was average sale price

60 was average days on market for sold homes

Commentary – As one can see, the trend is continuing of being in a seller market.  We continue with a low level of inventory, and this is beneficial for home owners looking to sell.  Time to sell has been pretty consistent for some time, and of course is looking at the entire South Phoenix area on average.  Some homes do sell a good bit faster, and then again, some are taking a fair amount longer.  387 was longest amount of time on market, and 1 day was shortest.

Key to selling, is to price it right.  Most homes are being purchase with financing, and that WILL require an appraisal.

June 12th, 2017

Find below the latest on South Phoenix home values and trends:

290 properties currently for sale

265 properties under contract

166 sold properties in last 30 days

1.74 is current months inventory

$119.51 is current $/sq ft average for sold homes

66 was average time to sell

Commentary – Well it is a seller market, and that means it is a great time to sell!!!!  Yes, when there is a low inventory of homes, indicated by the under 3 months inventory, the sellers have a little more of the upper hand.  Depending on price of home, you could possibly experience multiple offers!  Yippee for home sellers, right!

Values are currently the highest $/sq foot and average sale price than they have been since prior to 2008.  Most folks have equity again, and now can considering selling, and actually make a profit.

Looking to sell – Call David Baker your local real estate expert.

June 5th, 2017

Se below latest numbers and trends – spoiler alert – not much change!

297 active properties

265 properties under contract

168 sold last 30 days

1.76 months inventory

$118.79 average $/sq ft

$211,584 was average sale price

64 was average time for sale, for homes sold

In short- seller market, great time to sell.

May 30th, 2017

Here is the update for South Phoenix home values for this week:

291 active homes for sale

265 properties under contract

154 properties sold last 30 days

1.88 months inventory

$118.13 was average $/sq ft

$204,953 was the average sale price

56 was average time to sell

Commentary  – It continues to be a seller market in the South Phoenix real estate market.  This is great for homeowners considering selling, especially at this point going into the summer months, when the volume of homes sold picks up.  In other words, more homes are changing hands, and this usually has everything to do with kids being out of school.

Values in South Phoenix continue steady, with yearly appreciation.  Great time to sell.

May 22nd 2017

Below find information for the current state of the South Phoenix real estate market and home values:

282 properties currently for sale

287 properties currently under contract

160 homes sold last 30 days

1.76 current inventory

$116.12 average $/sq ft

$203,732 was average sale price

56 was average days to sell

Commentary –  Not too much change, the market and home values in South Phoenix continue steady.  We continue with a low level of inventory of homes for sale, at 1.76 months.  While we see fluctuation in average $/sq foot, they have been holding steady.

Homes that are priced right, well those are selling.

May 15th, 2017

275 homes currently for sale

287 properties under contract

171 properties sold in last 30 days

1.6 months inventory

$117.07 was average $/sq ft

$203,331 was average sale price

56 was average time to sell

Commentary – Just know, homes are selling for market value.  While market is one that favors sellers, most homes (about 95%) are being sold with financing.  Thus, a appraisal  will be needed.  In other words, you will NOT be able to sell for over what home is currently worth.  Homes are indeed selling though, and values have appreciated over the last 3 years.

May 8th, 2017

Below are the latest numbers, followed by short commentary on the market in South Phoenix:

288 active homes for sale

274 properties under contract

170 properties sold in last 30 days

1.69 is current inventory

$116.84 was average dollar a square foot for homes sold

$202,792 was average sale price

56 was average days on market

Commentary – Consistent, consistent and more consistent is what the market has proven to be for going on over a year.  Values hold steady with slow appreciation for the last year.  The market continues to favor sellers, meaning low inventory, so less choices for buyers.  Showed new homes this weekend, and 1 builder even had a waiting list.  Housing supply is short at this time.  Good time to sell, it is that indeed.

May 1st 2017

Here are the numbers to start of the month:

286 active properties for sale

268 properties under contract

169 properties sold in South Phoenix last 30 days

$117.91 was average $/sq ft for homes that sold

$205,347 was average sale price

613 properties sold year to date

Commentary – Well, not to much change if any.  We continue on with a seller market, which is to say inventory continues low.  We are also now beginning to enter the summer, which traditionally will see more homes on the market as well as an increase of sales as well.  Values overall are holding, with slow appreciation which is good.

April 24th 2017

Below is the latest information on South Phoenix home values and market trends:

276 properties currently for sale

290 properties currently under contract

173 properties sold last 30 days

117.73 was average $/sq ft

$204,847 was average sale price

60 was average days on market

Commentary – Overall, not much change.  Good things to know and consider if looking to sell:

  1.  how long it is taking on average to sell
  2. average $/sq or sale price – keep in mind this is for the entire zip and all home types

 

April 17th, 2017

Below is the latest entry into my ongoing look at South Phoenix home values for 2017.

266 properties currently for sale

297 properties currently under contract

162 properties sold in last 30 days

1.64 is current market inventory

$115.86 was average dollar a square foot for sold homes

$202,654 was average sale price for properties in last 30 days

56 was average days on market

Commentary – Not really much to add from previous entries you can see below.  Market continues to be a seller market, which is the time to sell if you are considering selling.  Reason is, when inventory is lower, and buyers have less choices, this favors the seller.  In addition, we have seen appreciation rapidly at first, then pretty steady since 2013.

April 10th, 2017

Find below information for the last week:

281 properties currently for sale

289 properties currently under contract

158 properties sold in the last 30 days

1.77 is current housing inventory

$115.57 was the average $/sq foot

$206,083 was the average sale price

59 was average days on market for those home that sold

Commentary – Inventory remains low, as it has for some time.  It continues as a seller market, and values are steady with slow appreciation.  Good time to sell, yet also good time to buy as interest rates are still low.

April 3rd, 2017

Recent numbers for last week:

286 homes for sale

287 homes under contract

158 sales in last 30 days

1.81 current inventory

$113.48 was average dollar per square foot

64 was average days on market

Commentary – Inventory is low, and has just gone a little lower.  This continues to be a seller market, which is a great time to sell a home, when there is low inventory and supply for buyers is of course low.  This helps minimize buyers choices, and allows sellers a little more of an upper hand.

March 27th, 2017

Here are this week’s numbers for South Phoenix real estate and home values:

299 active properties for sale

281 properties under contract

151 properties sold in last 30 days

1.98 is current inventory in South Phoenix

$114.83 is was the average dollar a square foot

$199,625 was the average sale price for the South Phoenix area

66 was average days on market for homes sold

Commentary – The number of active listings has gone down since the start of the year, and the number of sales has gone up a bit as well, which leads us to a lower inventory of homes.  This is actually a great thing for homeowners considering selling, because with less choices the sellers have an upper hand.  1.98 current inventory is the lowest we have had since september of 2016.  Again, great time to sell if considering selling.

March 20, 2017

Lets check out the current numbers:

301 active properties for sale in South Phoenix

283 properties under contract

144 closed properties in last 30 days

2.09 months current inventory

66 was average time for homes to sell

$205,270 was average sale price

$116.56 was average dollar a square foot for homes sold

Commentary – Folks, really not much change.  We continue in a seller market.  Values are holding steady, and all points to things continuing the same for now.  Interest rates may be going up, so we will have to see if buyers are affected by that in the coming months.

March 13, 2017

Here are this weeks numbers:

314 properties currently for sale

272 current homes under contract

134 properties sold last 30 days

2.29 current inventory

$115.22 was average $/sq ft

$200,499 was average sale price

61 was average days on market

Commentary – The story still remains the same.  Not much change here, it is still a seller market.

March 6, 2017

Lets look at the numbers today in a little different format and see what comes from it shall we:

Current                                                                                                  Last year

310 properties for sale                                                                        253 properties for sale

140 properties sold last 30 days                                                       113 properties sold last 30 days

2.21 current inventory                                                                        2.23 inventory this time last year

$114.99 average $/sq ft for homes sold                                         $105.97 was average $/sq ft this time last year

Commentary – As one can see we actually have seen an increase in the overall number of active listings in the South Phoenix real estate market.  Yet, we also have seen an increase in the number of sales over the same time period vs. last year.  The inventory for comparison reasons can be argued to basically be the same, it is still a seller market.

The big difference really from last year, is the increase in the average $/sq ft for homes that sold.  Is it a good time to sell in South Phoenix?  Sure, values have gone up, it is a seller market, and if you need to sell it is a good time.

Call David Alan Baker at 602-373-6345 to set a time to discuss what your home could sell for in today’s South Phoenix market.

February 27th, 2017

298 properties currently active for sale

269 properties under contract

122 properties sold in last 30 days

2.44 is current months inventory

$112.95 was the average $/sq ft for homes that sold

59 was average days on market

Commentary –  We did see a slight decrease in the number of active listings, which makes sense when you also notice number of homes under contract went up a bit as well, as did number of closings.  Over all, the South Phoenix real estate market continues un changed.  We are still in a seller market, interest rates are low, inventory is low, so it is a great time to consider selling.

February 22, 2017

309 properties active on the market

265 properties under contract

107 properties sold in last 30 days

2.88 is current market inventory

$110.86 was average $/sq ft

$198,896 was average sale price

59 was average days on market

Commentary – Not much change folks.

February 13th, 2017

317 properties for sale in South Phoenix

244 properties under contract

106 properties sold last 30 days

2.99 is current months inventory

$110.40 was average $/sq foot for homes sold

$196,000 was average sales price

64 was average days on market

Commentary – Homes, are selling if priced right.  I know, I sound like a broken record, but it is the SIMPLE truth.  Not sure why some folks decide to try not to leave any money on the table, and assume that their home can sell for more than other similar homes have?  Interestingly, only about 5% of homes have been paid for in cash in our area.  This then, would lead us to assume that there is at the very least a 95% chance that any buyer to a home would be financed.  We all know, with financing a home an appraisal will be ordered.  We also further know, an appraisal will base value on recent homes sold, and they will get a similar value to those homes that sold.  The appraisal will not give value of others  homes, plus an additional amount ……just because.  Point is, price the home right, it will lead to more showing and quicker offer and no issues with the appraisal.

It is a good time to sell.

February 6, 2017

Below are this weeks numbers:

300 properties active and for sale

239 properties under contract

94 properties sold last 30 days

3.19 is current inventory

$110.03 is average $/sq ft for homes that sold

$189,580 was average sale price

64 was average days to sell

Commentary – Not really much change, market continues stable.  While we do see some minor fluctuations with closings in last 30 days, some with inventory level, we truly have not changed much.  It continues to be a seller market in South Phoenix, and that makes it a good time to sell.  You can likely expect to sell, as indicated from above statistics, in about 64 days on average.  This is of course, a average of those homes that DID sell.  There are many that are still listed, that have been sitting on the market for a lot longer.  Reason – likely over priced.

So price it well, and get it sold.

January 23rd, 2017

Here is a look at this weeks numbers, followed by quick commentary on the state of South Phoenix home values:

298 active properties for sale

213 properties currently under contract

97 properties sold in last 30 days

3.07 is current market inventory

$111.77 was average $/sq ft for homes sold

$196,327 was average home sale price

77 was average days to sell

Commentary – Holy cow!! We have seen an increase in inventory for South Phoenix, what does that mean!!!??  This is the first time since 2015 that single family homes in the South Phoenix area has seen inventory of over 3 months.  Albeit, it is barely over 3 months, which is what I would describe as a transitional market.  Basically a transitional market does not benefit really either party, seller or buyer.

Yet, to really see what is going on in the market, you could look closer into specific area.  Most zip codes in South Phoenix really have not changed much at all in the last MANY months, but 85042 has a bit.  They have seen a decrease in sales over the last 30 days, as well as an average increase in time on market for home sold.  Out of the South Phoenix zips, this is the one that also has more higher end homes, so that could be a reason.  Yet, it could also be the list prices.  If one were to notice, average sales price per square foot vs. average list price is over $20 difference.  If you consider a 2200 square foot home, that could mean some homes are OVERPRICED by about $44,000!!

So, my opinion in a nut shell is that the market has not really changed much.  It is a seller market, and even if you are in the 85042 zip code, it is a good time to sell.  The key to making sure you’re home sells, knowledge of the market and pricing it right!  Then followed by good marketing, and negotiating.

January 16th, 2017

Lets dive right in and look at the most recent activity in the South Phoenix real estate market:

298 properties currently for sale

200 properties currently under contract

122 properties sold in last 30 days

2.44 is current months inventory

$111.89 was average dollar a square foot for homes that sold

$191,556 was the average sale price

72 was average days on market

Commentary – Not too much change at all in the South Phoenix real estate market.  It is still a seller market (mostly in under $250,000 price range) with only 2.44 months of current inventory.  Good time to sell, when the market does favor you, in this case the seller.  While we are in a seller market, homes are still selling at market value and not beyond.  As an example, there has only been 12% of homes sold YTD in South West Phoenix that have been purchased in cash, the other 88% has been financed.  An appraisal is the ONE thing all financed homes require, and for South West Phoenix that means 88% of the homes HAD TO have an appraisal.  Also interestingly enough, the average on the mls for South Phoenix for sold homes last 30 days was 2% under the final list price.  Point being that it is a seller market, but homes are not going for over market value, and one still needs to market accordingly.

January, 9th 2017

Over all, the South Phoenix real estate market is stable.  We have not really seen any significant change or fluctuation in the market for months.  We have seen a slow and steady appreciation, and that may in part be due to the low inventory of homes.  Here are this weeks numbers:

298 properties currently for sale

185 properties currently under contract

126 properties have sold in last 30 days

2.36 is current market inventory/absorption rate

$114.38 is the average $/sq ft for homes that sold

69 was average time need for home sale

Commentary – Not much change since last year.  Again, we have seen appreciation since last year, though nothing crazy.  I would describe it as a steady and healthy appreciation.  Course, depending on what time frame you look at, the amount appreciation will vary, but rest assured it was a positive gain.  Is it a good time to sell?  I’d say yes, inventory is low and this is good for a seller.

January 2nd, 2017

Welcome to the new year, hope you had a fun and safe new years evening and day.  Below is the updated information for the South Phoenix area, and will give you an idea of where we start the year with South Phoenix home values.

276 properties currently for sale

179 properties currently under contract

130 properties sold in the last 30 days

2.12 is the current inventory level

$113.25 was average $/sq foot for homes that sold

$195,061 was the average sale price

58 was average days on market for homes sold

Commentary – Well the year pretty much is starting the way it ended.  It continues to be a seller market, with under 3 months of market inventory for single family homes in the South Phoenix area.  Interest rates are still pretty low, so this is great for buyers and also helps sellers as it makes the time to buy more appealing for buyers.  The reason is simple, with lower interest rates, the cost of borrowing money is less and thus more affordable.  The fed did raise rates, and this will at first impact equity loans but may begin to impact purchase loans by the March time frame.  This could soften the buyers a bit, if the affordability factor is affected by higher interest rates.  But for now, rates are good, values are good and this is all around a great time to buy and sell.

South Phoenix Home Values

South Phoenix home values is a weekly article given you updates on the South Phoenix real estate market trends.  We will look at activity over the course of the last 30 days to see what trends we can see and also look at current values homes are selling at on the market.

South Phoenix is also the area commonly called South Mountain or even the Baseline corridor.  South Phoenix extends from the Rio Salado on th North to the South Mountain Preserve on the south.  It also extends from the I-10 interstate (or for some that want to get super exact 48th St) to about 27th Ave on the West side.  The area is made up of the 85042,85041,85040 zip codes.

As far as housing in the area, one can find a little bit of everything.  South Phoenix offers several gated communities, several golf course communities, several newer subdivision homes, many older subdivision homes, homes with HOA, homes without HOA, homes that have irrigated land, homes with acreage, homes with horse priveledges, desert property homes and maybe some others I may have missed.  If your looking to buy a home in South Phoenix, I have made some links for specific community types and you can view those here.

Below find weekly South Phoenix Home Values updates

December 26th, 2016

295 active properties for sale

197 properties under contract

113 properties sold last 30 days in area

$112.88 was average $/sq ft

$192,508 was average sale price

50 was average days on market

2.61 is current inventory

Commentary – Looks like we will be ending the year with a seller market in South Phoenix area.  Home values continue looking stable.  We did see some appreciation, but I would call it healthy, nothing crazy like we have seen in recent past.  The South Phoenix area, will have seen about 1740 or so sales for the 2016 calendar year, we are currently at 1710.

2017 likely will still hold steady, and likely continue with being a seller market.  One thing of note, though it was a seller market, homes wer only selling for market value.  If homes were not priced right…………….they did not sell.

December 19th, 2016

Best description for South Phoenix home values, has been steady.  While we have seen an increase in values, it has not been anything as crazy as what was experienced in 2004-2007 years.  Below are current statistics for the South Phoenix market:

300 properties currently for sale

194 properties currently under contract

114 properties sold in last 30 days

2.63 months of current inventory

$115.88 is current $/sq foot

$200,627 was average home sale price

52 was average days on market for homes sold

Commentary – Not much more to add, the South Phoenix housing market has been stable, and is still residing in a seller market.  The so called experts are saying that 2017 will likely remain a seller market, with 2018 and 2019 possibly shifting to a buyer market.  Course , these are the same experts that did not see the 2008-2013 market crash!

December 11th, 2016

Here is what the South Phoenix home values numbers look like this week:

299 home actively for sale

209 properties under contract

105 properties sold in last 30 days

2.84 months of current inventory

$112.72 was the average $/sq ft

$204,497 was the average sale price

57 was average days to sell

1645 homes sold to date

Commentary – If anything, the numbers for the South Phoenix area continue steady and stable. Yes, values have gone up in the last year, and are holding nicely.  Next year is predicted to see an increase in interest rates, and this could (could) slow down the market a bit.  Notice, I did not say DEVALUE, I said slow.  To my knowledge, no one can accurately predict the future, if they could they would just spend their time buying lotto tickets.

The market is still favoring sellers, which means it is a great time to sell.  Especially at the lower price levels.  I’d also say, it is an EXCELLENT time for those considering a move up to larger home.  At this point, home values have gone up a fair amount and one could sell and place that equity toward the larger home in the form of a down payment.  In addition, they can take advantage of the still LOW interest rates, before they go up.

December 5th, 2016

320 properties currently for sale

206 properties under contract

103 sales last 30 days

3.106 months current inventory

53 average time to sell home

$202,143 was average sale price

1614 homes sold to day in South Phoenix

Commentary – Interesting, we have now popped above the 3 month inventory for the first time since December 2015.  Could this be signs of change coming?  We will have to see.  So South Phoenix just went into a transitional and leaning to buyer market, based on the current level of inventory.  It could be a seasonal slow down, but again we will have to wait until end of holidays to see what happens.

Thinking of selling?  Homes Do still sell during holidays, as we say last year.

November 28th, 2016

315 properties currently for sale

217 properties under contract

109 properties sold last 30 days

2.88 months inventory

$115.01 was average $/sq ft

$200,267 was average sale price

56 was average time to sell

1583 homes sold year to date

Commentary – Folks, not much change.  It is  a seller market, and if considering selling, it is a good time.  Homes are moving faster on the lower price ranges, but higher priced homes still selling as well.  To see highest home sold in area, you can view on this page http://phoenixlaveenhomes.com/highest-sale-last-week/

November 21st, 2016

322 active properties for sale

209 properties under contract

120 sold last 30 days

$114.96 was average $/sq ft

$199,780 was average sale price for homes sold

2.68 is current inventory

61 was average days on market

Commentary – It is still a seller market.  The current market inventory has been creeping up a bit, but still below 3 months, so market is still leaning toward the sellers.  I should say though, if considering selling, check homes like yours and not in entire area like I do for this article.  This article takes into account all properties (single family) within the area, high end and low end alike.  Over all, our South Phoenix area is in a seller market.  Yet, if one were to look at homes over a certain price range, it may not be the case.  So FYI, if thinking of selling, get all the correct information so you can make an INFORMED decision regarding your real estate goals.

November 14th, 2016

317 properties for sale

213 properties under contract

120 properties sold last 30 days

2.64 months inventory in South Phoenix

$114.02 was average $/sq ft

60 days was average on market time for homes sold

1535 homes sold YTD

Not much change.

November 7th, 2016

324 Properties for sale

202 properties under contract

133 properties sold last 30 days

2.43 months inventory

$109.88 was average $/sq ft for homes sold

64 was average time on market

1513 number of homes sold to date

Commentary – Not much change at this time.  Active homes, those under contract, and recent sales are all pretty steady.  Values of course have gone up since last year, but nothing crazy, and holding steady in my opinion.

Is it a good time to sell?  I do think so, inventory is still low, and this is great for sellers.  Interest rates are low, this is good for buyers.  As the rates go up (and they will), then purchase power goes down and this could have an affect on people ability to buy.

October 31st, 2016

Happy halloween.  Hope you have a great day, and enjoy the holiday.  Here are this weeks numbers:

322 properties currently for sale

215 properties under contract

125 homes sold last 30 days

$111.03 was average $/sq ft

$206,179 was average sale price

62 was average days on market

1477 homes sold to date

Commentary – Not much new really, homes that are priced right are still receiving offers and selling.  Those over priced are sitting on market, and those over a certain price, well those are NOT benefitting from being in a seller market.  As to the over south phoenix market, yes it is still a seller market with a low inventory of 2.56 months.  Still good time to sell.

October 24th , 2016

312 properties on the market at this time

219 properties under contract

120 properties sold last 30 days

2.6 months current inventory

$111.93 average $/sq for homes sold

$209,837 was average sale price

63 was average days on market

1438 homes sold in South Phoenix to date

Commentary – Not much change, …………………except that the 85041 zip saw a increase of inventory.  Actually while the most of South Phoenix zip codes continue experiencing a seller market, 85041 this week bounces into a buyer market.  While it a very modest buyer market, we will have to keep track and see what happens with that zip.  Overall, prices continue steady, as do number of actives and closings.

October 17th, 2016

304 properties currently for sale

215 properties under contract

127 properties sold last 30 days

2.39 months of current inventory

$109.90 was average $/sq ft for homes sold

64 was the average time on market for homes that sold

1411 homes sold year to date

Commentary – The seller market continues, not much change over the last several months.  Homes are selling, and it continues to be a good time to sell.  Values are holding steady as well.

 

October 10th, 2016

280 properties for sale

220 properties under contract

127 homes sold last 30 days

$109.08 was average $/sq ft

$207,705 was average sale price

2.2 is current months inventory

60 was average days on market

1383 homes sold in South Phoenix year to date

Commentary – In a nut shell, not much has changed.  South Phoenix still is in a seller market, and values are holding steady.  Homes are selling relatively quickly, especially at lower price ranges and if priced right.

October 3, 2016

261 properties for sale – little less than a week ago

230 properties under contract

112 homes sold last 30 days – also down a bit from a week ago

$109.39 was average $/sq ft for homes sold

$205,757 was average sale price

59 was average days on market

2.33 is current m0nths inventory – This up slightly from a week ago

We are still in a seller market, which is seen with our current under 3 months market inventory.  Homes are still selling, though average days on market for homes sold, has gone up in the last several weeks.  Year to date we have 1350 sales all together in the South Phoenix area.

September 26, 2016

280 properties currently for sale

227 properties under contract

127 sold last 30 days

50 days was average time to sell

2.2 is current South Phoenix inventory

$107.12 is current $/sq ft average for homes sold

$191,833 was average sale price

Again, steady is the descriptive word for South Phoenix home values.  Number of active listings is up, but all else is steady, including average times to sell, prices etc.  Seller market, and good time to buy or sell, as interest rates are still good as well.

September 19th, 2016

268 properties currently for sale

218 properties under contract

131 properties sold in last 30 days

47 was average time for home to sell

$108.20 was average $/sq foot for homes sold

$184,891 was average sale price

2.04 is current level of market inventory – still a seller market

Not much change, steady as she goes, yet again.  Real key take away is that values are steady.  While we have seen some appreciation, it has been a slow, healthy and sustainable increase.  Not like we saw back in 2005-2007.  It is a seller market, in the lower price ranges, which can make it a little more competitive to buy affordable homes.  Yet, there are options.  Interest rates are still at pretty historic lows, so overall a great time to buy.

September 12, 2016

277 Homes currently for sale

218  properties currently under contract

135  properties sold in last 30 days

2.05 months of inventory

$108.27  average $/sq ft for homes sold

$189,157  was the average sale price

48 was the average days on market

Steady, steady  and steady.  Not much change, numbers are all continuing pretty steady.

September 6, 2016

Hope all had a wonderful Labor day weekend.  Here are this weeks numbers:

268 properties for sale

206 properties under contract

145 homes sold in last 30 days

1.84 months inventory in South Phoenix

$109.01 was average dollar a square foot for homes sold

$191,658 was average home sale price

49 was average days on market for homes sold

The market continues to benefit sellers, with a low level of inventory.  With the low level of inventory buyers are having to compete a little more for available homes, especially at the lower price ranges.  Values are holding pretty steady, and we have seen some appreciation.

August 29th, 2016

275 properties currently for sale

221 properties currently under contract

147 properties sold last 30 days

$109 was average dollar a square foot

$198,179 was average sale price

47 was average time to sell for homes that sold

 

Why do some homes sell, why others sit on the market?  One could say there are a lot of reason, but in the end the price must match the condition of home, the location for home and if it does not it will not sell.  Currently the average list price in South Phoenix is $127.33, which is a fair bit above the average $/sq foot of solds.  If your home is on market, is desirable, is in a good location, and is not selling, it may be overpriced.

August 22, 2016

Not really seeing much change in the South Phoenix real estate market.  We still have a seller market, and values continue pretty steady.

268 homes for sale

215 properties under contract

167 homes sold in last 30 days

1.6 months of inventory/absorption

46 average days on market for homes sold

$109.69 was average $/sq. ft

$194,963 was average sale price

As you see from last several posts, no big change.  This does not mean all homes placed on the market are selling, but those priced right ARE.  Interestingly, the average list price for the active properties for sale is $126.34 in South Phoenix, yet average for those selling is a good bit less.  What ends up happening is that over priced homes will either eventually drop price to market value and sell or they will not sell and stay on market.  Of course, the owners may decide to wait and sell at some other time.

August 15th, 2016

268 properties for sale at this time

223 properties under contract

161 sold last 30 days

$109.95 was average sale price/square foot

$190,809 was average sale price

1.66 is months inventory

1124 homes sold year to date

Not much change really, it is a seller market.  A report from Inman news in regards to a talk by Gary Keller, indicated some national indicators that could show a shifting market.  These are things such as a decline in affordability vs. the wage earnings growth.  It is a slow down on new home builds, and a slowdown of the overall housing market on a national level.  Will this hit Phoenix?  Time will tell.  At this point indications as shown above, are steady and stable.  Yet, it very easily could shift into a buyer market.

August 8, 2016

262 properties for sale in south Phoenix

220 properties currently under contract

155 properties sold last 30 days

$110.34 was average $/sq foot for homes sold

$190,044 was average sale price

51 was average days on market

1.69 months of inventory/absorption

Still a good time to sell, though as of today kids are back in school.  Numbers are still showing a seller market across the South Phoenix zip codes at this time, with values pretty stable.

August 1, 2016

Welcome to a new month, the month of August.  Lets look at activity for real estate going on today:

268 active properties for sale in South Phoenix

211 homes under contract

150 homes sold last 30 days

1.78 months inventory, still a seller market

$109.61 was average $/sq ft for homes sold

48 was average days on market for homes sold

$182,286 was average sale price

One of the key differences between 2016 and many of the years before, is who the buyers are.  Buyers are now owner occupants, and not your cash investor.  As such, homes are selling for fair market value, and not for more.  So, know your market, know your potential buyer, market smart, and price home well to get home sold.

July 25th, 2016

262 properties for sale

248 properties under contract

145 sold in South Phoenix last 30 days

1.8 is current months inventory

$110.99 was average $/sq ft for homes that sold

$193,895 was average sold price

57 was active days on market

Homes, much like in Laveen, are selling quickly for those under $200,000.  Homes over has a larger inventory (selection) and thus a little more competition.  While it is predominantly a seller market in the area, homes are not selling for over value, they are selling for market value only.  This fully makes sense, when you also see that the majority of homes also are being financed, and of course must appraise.

July 18th, 2016

258 Homes on the market

245 homes under contract

146 homes sold last 30 days in South Phoenix

1.76 current inventory of homes

$108.34 was average $/sq ft for homes sold

$190,823 was average home sale price

53 was average days on market for homes sold

So numbers are above, should give a good idea of the market.  It is still indeed a seller market, with lower levels of inventory indicated by the 1.76 months of inventory.  If your currently selling, and you’ve been on the market over 53 days, well you may be overpriced.  Course that being said, this above looks at the entire south Phoenix area and all homes and price ranges.  To be REALLY sure, you’d want to look at similar homes to get a better idea.

Hope this helps.

July 5th, 2016

252 homes for sale at this time

242 homes under contract

158 homes sold last 30 days

1.59 current months inventory

$107.94 was average $/sq ft for homes sold

$199,834 was average sale price

50 was average days on market

913 is years sold to date in South Phoenix.  Homes are indeed selling, and values have slowly, gone up.  I would actually describe the market as steady, with values holding.

June 27th , 2016

262 properties for sale

271 properties under contract

158 homes sold last 30 days

1.65 months inventory

$111.23 was average dollar a square foot for homes sold

$200,868 was average sale price

51 was average days on market for homes sold

Not much change folks.  Market continues with lower inventory at the lower price ranges, and those are selling the quickest as always.  Over all, South Phoenix is still in a seller market and this is great for home owners looking to sell.

June 20th, 2016

262 active properties for sale

265 properties under contract

165 properties closed in last 30 days

1.58 months inventory

$109.73 was average $/sq ft for homes sold

$199,691 was average sale price

Stable is the name of the South Phoenix real estate market at this time.  We did see a little fluctuation with inventory, but nothing significant.  Number of closings is in line with years past, and values are holding steady.

June 13th, 2016

275 active homes for sale

270 homes currently under contract

162 homes sold last 30 days

1.69 months inventory in South Phoenix

$107.96 was average $/sq ft for homes sold last 30 days

54 was average days on market for homes sold

 

As you can see from the above numbers, South Phoenix is experiencing a sellers market.  Homes are selling pretty fast in the area.  Matter a fact, just listed a home 4 hours ago and I’ve already had 4 agents request a showing.  So does this sellers market apply to all price ranges, wow now that is the question right?  Home I listed this morning is a sub $200K home, and those are indeed selling quick.  Once you look over $300K in the area, well now the market  changes a bit.  So for the scenario of homes in South Phoenix over $300,000 that is a buyer market!!  Yes at this time we have about 6 months inventory of homes over the $300,000 mark.  Point is, if your really considering selling make sure to understand the market, and really try to maximize your sales price.

June 7th 2016

Out for a couple of entries, but here we go again.  Let me catch you up with the South Phoenix home values and trends going on in the real estate market.

263 homes currently on the market

269 homes currently under contract

160 homes sold last 30 days

1.64 months inventory/turnover rate

$108.27 was average $/sq ft for homes sold

$190,916 was average sales price for homes

53 was average days on market

As you can see from the above numbers, values have not really fluctuated much.  South Phoenix home values in my opinion have been consistent.  Of course we do see a little up and down based on the homes sold within any given month, but home values are steady with of course a current appreciation.  While homes are appreciating in value, I am not seeing anything that will gain potential sellers any significant margin to wait a short period.  Nothing like in 2004-2008 when you could buy one day and make a significant profit the next, no those days are currently gone.  The market continues to favor sellers, it is a good time to sell.  I also would say, good time to buy as interest rates are very attractive.

May 23rd, 2016

246 properties actively for sale

295 under contract

135 sold in South Phoenix last 30 days

1.82 months of inventory

$102.99 is average $/sq ft. for homes sold

$188,091 was average sale price

While there seems to be good activity for selling, the market is steady.  Nothing major happening that would be of interest.  Market continues steady, seeing the normal summer increase in sales volume, and prices are holding steady as well.

May 16th, 2016

259 Properties currently on the market

281 properties currently under contract

125 properties sold last 30 days

$106.17 was the average dollar a square foot

$188,876 was average sale price for homes sold

2.072 is the current inventory/absorption rate

It is still a sellers market.  We are in full swing of the summer market too, and many buyers are making their moves at this time. If your considering selling, now is really a good time to place home on market.

May 9th, 2016

275 Active properties for sale

241 single family homes for sale

276 properties under contract

121 properties sold in last 30 days

$107.16 was average sale price/sq ft

69 was average days on market

$187,457 was average sales price

2.27 market inventory/absorption – favors sellers

69 was average days on market

Still a seller market in the South Phoenix area.  Yet, it is really the lower end homes that are truly moving quick, those in South Phoenix over $250,000 not moving quite as fast.

May 2nd, 2016

272 active homes for sale

273 homes currently under contract

132 homes sold in last 30 days

2.06 is the market inventory/absorption

$104.94 was average $/sq ft

$187,755 was average sale price

68 was average days to sell

Homes indeed are selling, and buyers are coming out at this time making the summer move.  It is at this time you see that buyers are coming to market and making housing changes, especially since kids are almost out of school.  Market right at this time does favor sellers.  We have a quick turn over at lower price ranges.  On the high range however, it really is a different story.  Be sure to understand the market if your considering selling.

April 18, 2016

278 homes for sale

247 are single family homes

249 homes under contract

154 homes sold last 30 days

1.8 months inventory

$106.59 average $/sq ft for homes sold

$185,396 was average home sale price

56 was average days on market

Homes are SELLing!   When looking at the region as a whole, the current real estate market does benefit the seller.  It is a seller market with low inventory at this time, as seen above with only 1.8 months available inventory.  Yet, if looking to sell be sure to really do your home work.  For instance homes over $250,000 are over 3 months inventory, and that is a buyer market.  So my tip, know the market, know the inventory, know your competition and of course know your home value.

April 11, 2016

Missed a week, sorry.

262 properties for sale

238 under contract

150 sold in last 30 days

$103.46 was average $/sq ft for homes sold

$180,779 was the average sale price

57 was average days on market

1.74 is the current market inventory level, or absorption rate.  I just wrote about this in my Laveen article as well, and one really needs to look closely at the numbers when considering buyer/selling.  Knowing if the market truly benefits you as a buyer or seller can go a long way to keeping more of your money.  At this point, with the lower inventory, the market favors the seller.  With less inventory, buyers must compete for the fewer homes.  Yet, check out different price ranges, areas, zip codes and you’ll see variation.  If your really considering selling, know all the factors about YOUR specific home.

March, 28, 2016

271 active properties for sale

234 active single family homes for sale

257 currently under contract

115 homes sold last 30 days

66 was average days on market

$102.70 was average price a square foot

Not much new to report at this time.  The home values continue pretty steady at this time.  Currently we have about 2.35 months of inventory/ absorption.  This is still something that in theory benefits sellers.  Key though, is to really know your market, the values in your neighborhood or subdivision, the competition and then see what the best selling strategy is. (or buying).

March 14, 2016

251 active properties for sale in South Phoenix

219 active single family homes

260 properties under contract

116 properties successfully closed in last 30 days

$103.98 was average price per square foot of homes sold

80 was average days on market.

While it is not above, it is interesting to note both the active days on market and active average list price per square foot.  Active average days on market is currently 97 days.  The average list price per square foot is about $346 a square foot.  Now, notice the active average vs. the closed average, and do you notice anything?    Yup, there is a pretty big gap between the average list and the average sale price.  Values have gone up, and sellers can indeed sell their home and get interested buyers, but homes are not selling for over market value.

March 7, 2016

253 active properties for sale

227 single family homes

235 homes currently under contract

113 homes sold last 30 days

2.23 months absorption/months inventory

$105,97 was average $/sq ft

$190,007 was the average sale price

80 was average days on market

Overall homes in South Phoenix area selling.   On average those homes selling sold for 2% under list price, for the homes sold last 30 days.

March 1, 2016

251 active properties for sale

218 single family homes

238 homes currently under contract

110 homes sold last month

$105.38 was average $/sq ft for homes sold

$188,182 was average sale price

86 was average days on market for homes sold

2.28 is absorption/market inventory

Absorption is a great figure to know, especially because it will describe whether we are in a buyer or seller market.  Below 3, which we are, is a seller market.  This means less inventory and less choices for home buyers and this benefits the seller.  Keep in mind, if your considering selling, price range is also very important.  While I can give an idea of the over all market, there are also special niche markets within the community which will be different.  As an example inventory and absorption rate is more favorable to buyers above certain prices.  Values are holding steady, it is a great time to consider selling.

February 22, 2016

275 active properties for sale

243 properties under contract

97 sold homes in South Phoenix last 30 days

2.83 months absorption or market inventory

$105.11 was avg. $/sq for homes sold

$190,363 was average sale price

83 was average days on market

While dollar a square foot shifted a bit, it really still is within a range that it has been for a while, therefore prices to me are pretty stable.  What is good for those considering selling, is that more homes are starting to get placed under contract.  Notice we have less active homes for sale in South Phoenix, and this is because more have been placed under contract.  We are looking to have a pretty good March, at the very least we will see more closings than this past month.

February 15, 2016

Unlike Laveen at this time, when you look at the ENTIRE South Phoenix zip codes as a whole, is still a seller market.  Yet, not by much!

293 active properties for sale

219 properties currently under contract

101 properties sold last 30 days

2.9 months of inventory/absorption

74 was average time to sell home, for those that did sell

$107.29 was average sale price/sq foot

$202,635 was average sale price

So, inventory appears to be fluctuation a bit since late last year, hovering just under 3 months.  Technically, still benefiting sellers.  Yet, when looking at homes that sold in last 30 days, those that did sell on average are selling a little under list price.  Looking at average $/sq ft for those selling vs. the ones active on the market, well the average is much higher for ones on the market.  Take away for me, is homes that are not selling, well they are over priced.

February 8th, 2016

286 homes for sale

202 homes currently under contract

107 homes sold last 30 days in South Phoenix

$105.39 was average $/sq ft for homes sold

69 was the average days on market

2.67 is current absorption or inventory level

South Phoenix does have some areas that have higher inventory than others, which could be more beneficial when it comes to selling.  Knowing what zip codes have less seller competition is something that can give you a little edge when selling.  At this time, South Phoenix is under the 3 month mark for inventory, which benefits sellers.  Keep in mind this post if using all South Phoenix zips, you really do want to consider your own zip code and potentially your price range, and subdivision to get a real accurate gauge and maximize marketing strategies.

February 1, 2016

284 properties for sale

252 single family homes for sale

181 homes under contract

108 homes sold last 30 days

$103.77 average $/sq ft

$189,491 was average sale price

63 was average days on market

Not much really has changed.  South Phoenix real estate market continues moving right along.  Values are holding steady, and the absorption rate/inventory is staying right around the same range.

January 25th 2016

284 Properties currently on the market for sale

256 single family homes

197 properties currently under contract

96 homes sold last 30 days

$189,351 was average sale price

$102.25 was average price a square foot

2.95 is the new absorption or months inventory

We did see some little change since last week, and that was in the inventory level.  We are up about 20 more active properties, and also down about 20 plus closings in last 30 days.  This is changing the inventory level, and now we are close to 3 months.  Just and FYI, as it goes over 3 months, the additional inventory makes it so that the buyer has a little more choice, and sellers must compete a little more with others to procure a buyer.

Hope that helps, call with any specific questions.

January 19th, 2016

260 active properties for sale

194 properties under contract

116 properties sold last 30 days

$104.20 was average sale price per/square foot

$192,448 was average sale price

72 was average time on market for homes sold

2.24 absorption, this is up a little from last report.

Not much change.  We saw a decrease in active listings, decrease in homes under contract, and less homes sold last 30 days.  This added up, gives a little larger number for turn over.  Still good time to sell, and if marketed aggressively, and priced well a home WILL SELL.

January 11th 2016,

270 properties for sale

186 properties under contract

130 properties sold last 30 days

$102.16 was average $/sq foot

$180,969 was average sale price

72 was average days on market.

2.07 is new absorption rate for week

We did see increase in absorption, or inventory on market.  Slight decrease in number of sales, and slight increase in number of home sales.  Should trend continue we may get closer to the “buyer market”, in which case seller’s tend to be more competitive to get the buyer.  FYI, price ranges DO have an affect on this to, and information here is based on entire zip and price ranges, so if you’re looking to sell, make sure and compare similar homes to get an accurate home value and likely sale price.

January 4th 2016

Over all, South Phoenix area real estate is going strong.  Other areas of the valley of the sun saw a slow down of sales for the winter holiday, not the case for South Phoenix.  South Phoenix real estate saw a fair number of closings, and in some cases a good increase in number of closings compared to years past.  Point is the market is doing well, values are holding pretty steady, and homes are selling.

264 active properties for sale in south Phoenix

177 properties are under contract

137 properties sold in last 30 days

$102.07 is the average dollar/square foot for homes sold

$185,852 was the average sale price

69 was the average days on market

Homes are indeed selling, and buyers are still looking to buy.  Need to sell your home.  Give me a call, for a consultation today at 602.373.6345.

December 28th, 2015

This weeks numbers:

281 active properties

252 are active single family homes for sale

201 homes currently under contract

111 homes sold last 30 days

2.531 months absorption rate/inventory

101.32 was average price/Sq ft for homes sold

If you notice last weeks post, I also indicated that the number of closings reflected several longer homes under contract that finally closed.  That appears to be the case this week as well, and we are seeing that we have finally closed on about 20 homes that had been under contract for some time.  This is skewing the numbers a bit, and showing us we are in a seller market.  Truth is, I think we are more transitional market, with the benefit neither to buyer or seller.  If looking to sell or buy, I would just suggest do your home work and study the market well.  Make sure to market aggressively and you will do just fine.

December 21st, 2015

This last weeks activity:

292 properties for sale in South Phoenix

210 homes currently under contract

104 homes sold in South Phoenix last 30 days

2.8 Months Absorption/Inventory

100.92 was average sale price/square foot

Notice, that the absorption rate is down from last weeks report.  Truth is, there were several properties that finally closed that had pretty long close of escrows.  I know for a fact that 2 closed this past period, that I sold and both were short sales.  They both took months to negotiate and close the deals.  So, it appears that many distress and longer term escrows have finally closed, which is why we saw an increase in closings this past 30 day look at the trend.  Will this trend, of under 3 months inventory continue?  I don’t think so, we are going to see this for maybe a week or 2 and then the numbers will again reflect that we are currently over 3 months, and yes, this does favor buyers a little more than sellers.

December 15th 2015

292 Active properties for sale

221 homes currently under contract

84 properties sold last 30 days

104.18 was average $/sq ft for homes sold

43 was average days on market

3.47 is the current absorption rate/market inventory

 

Is is a good time to sell a south phoenix home?  I happen to think it is always a pretty good time, if you need to sell.  Homes are indeed selling, 84 total in the last 30 days in South Phoenix.  Home values are staying somewhat stable, though we did see a slight spike in last 2 weeks.  This was very likely due to a couple of higher end homes that skewed the numbers a bit.  We will have to keep track of the numbers and see if we come back to about $100 a square foot or bit lower.  Chances are, I think we will see between 95/100 a square foot before to long.

December 7th, 2015

Lets get straight to the numbers this week:

294 properties for sale

267 single family homes for sale

233 homes currently under contract

77 homes sold in south phoenix last 30 days

3.8 current absorption/inventory

$105.27 is the average $/sq ft for homes that sold last 30 days

43 was average days on market

Number of active listings is down, number of closings are down, and number monthly inventory is up.  We always expect a slow down during the holiday season.  Truth is though, lot of buyers must move, and they are still out their looking.   There will likely, just like last year, be many sales that still occur during the holiday.  Real estate sales do not stop just because it is Christmas.

November 30th, 2015

Going into the Holidays the number of new listings to market has slowed a little as well as number of closings.  We are down slightly in number of active listings, and have dropped under 100 closings in the past 30 days for the first time in MANY MONTHS.

309 active properties for sale in South Phoenix

278 active single family homes for sale

231 homes currently under contract

97 homes sold last 30 days

50 average days on market for homes sold

$104.31 average $/sq ft. for homes sold

3.18 months of absorption/market.  We are over 3 months, and this does favor buyers a little more.  While close to 3 months, and more of a transitional market, it is tending now toward buyers.  Especially at the higher price ranges.

November 23rd, 2015

Values in South Phoenix continue with stability, not much change at all in values for about 8 weeks.  Little bit of a increase in active listings over the last week, and overall homes currently active and under contract.  Sales per month going down a little, but nothing huge.  The absorption rate or turnover still pretty steady at right around 3 months.  This is a transitional market, and should the number of active listings continue with sales staying steady we will likely enter a buyer market soon.

317 Active properties for sale at this time in South Phoenix

286 single family homes for sale

224 homes currently under contract

104 homes sold in the last 30 days

3.04 months of inventory or the absorption rate

$100.76 average dollar a square foot average for homes sold last 30 days

48 days was average for days on market for those homes that sold.

 

November 16th 2015

We have seen a steady increase in the number of active listings since June 2015.  The increase has not been a huge jump, just a steady increase of active homes on the market over all.  We are also seeing pretty steady home values, no major increase or for that matter decrease in home values.  The word on the hill is that the fed is supposed to start increasing interest rates to make sure we don’t see inflation.  Once rates start going up we may see a decline in number of sales, at least a small reduction compared to what we normally see.  Currently we are starting to see the seasonal slow down, going into the holidays.  Don’t be fooled though, homes DO STILL SELL during holidays.

311 properties currently for sale

282 single family homes on the market for sale

214 homes currently under contract

106 homes sold in South Phoenix last 30 days

$100.33 average $/square foot for those homes that sold

42 was the average time on market for those homes that sold last 30 days

Looking to sell your south phoenix home?  Let me know, I work with buyers and sellers in the South Phoenix and Laveen areas.  With over 300 deals, and 11 years in the business, I want to show what I can do for U.

November 9th, 2015

Well, what a difference a week can make.  Truth is real estate can have a little swing within a pretty quick time span.  So, what I’m I talking about what was the quick change?  Well truth is, if you go back and look at some of my previous article posts, you’ll notice I’ve been saying that the market is trending to going over the 3 month inventory and guess what, today we are at 3.02 months of inventory or as many call it the absorption rate.  This marks the end of the seller market, and really is the transitional/moving toward a buyer market.  The south phoenix real estate market saw an increase of about 15 active listings, and a decrease in closings.  Sellers……….., values are still holding steady with the South Phoenix zips averaging in the $98 square foot range.

309 active properties for sale

279 active single family homes

214 homes currently under contract

102 homes sold last 30 days

$174,284 was the average sale price for homes sold

49 was average number of days on market for homes sold – FAST SALES

****Warning**** Don’t use these numbers to determine your HOMES value.  This uses the ENTIRE South Phoenix zip codes to get an idea of whats going on, and IS NOT the way to value your home.  If thinking of selling, the best way to get value is to call me 602.373.6345 and I’ll be happy to come by and share comparable homes and discuss marketing to net you the best sales price.

November 2, 2015

Welcome to a new month, and what to me is really the start of the holiday season.  Here we’ll be coming up on Thanksgiving soon, then the shopping madness leading up to Christmas, get ready folks.

Many people always ask, is it a good idea to sell during the holidays?  Well truth is, homes do indeed still sell during the holidays.  Life does not stop because of the holidays, it has a way of just keeping moving on.  For many, regardless of the holiday, finding a new home or making a move is a MUST.  It can even be said that you may have fewer folks look at your home for sale, but those that do are REAL interested in making a purchase.  While the number of actual sales do decline during the holiday, you still see MANY happen.

South Phoenix continues to see a slow, but apparently steady growth to the number of active homes for sale.  Went from 281 active properties for sale last week Monday, to 295 this week, and this marks 3 consecutive weeks in a row of increase in active listings.  Number of closings have been consistent, as has the number of days on market.  Same for values, we are really not seeing much fluctuation one way or another.  Over all, most of the Phoenix real estate market and that also does include south phoenix home values, did see about a 4 to 5% increase in values this year.  Good time to sell?  Sure, if you need to sell, there are buyers out there.  Keep in mind, that new changes to the loan programs are demanding on average a longer closing period.  What use to be normal at 30 days for completing a loan, may now begin to see an average in about the 45 day range.

295  Active properties for sale

264 single family homes for sale in South Phoenix

207 homes under contract

111 homes sold last 30 days

62 average days on market for homes sold

$97.84 was average $/sq foot for homes sold

$166,948 was the average sale price last 30 days

2.65 is the overall turn over rate for south Phoenix.  This is below the 3 month mark which tends to show we are still in a seller market.  If considering selling though, DON’T just use all zips as I’m doing here to give an overall idea of the market.  Look closely at your own area, you may find the turn over rate is over 3 months, and that benefits buyer more.

October 26, 2015

281 properties for sale

253 single family homes for sale

218 homes under contract

113 sold homes last 30 days

$161,860 was average sale price for homes sold

63 was average days on market

2.48 is absorption rate or turnover/ or inventory as I like to say

Inventory continues to grow and it appears our absorption rate continues to grow as well.  Remember absorption rate is how long it would take to deplete our inventory, should no other home be listed, and all other things remain the same.  In other words, if looking at number of sales in last 30 days, how many months of inventory do we have.  At this time for single family homes in south phoenix we have about 2.48 months of supply, which is still favoring the sellers.  Don’t let this be deceiving though, because you must really know how to look at the entire market and also specifically at homes like yours to see what is happening in your VERY SPECIFIC area.  Over all though, South Phoenix is seeing a healthy real estate market, homes are being sold and bought.  Interest rates remain EXCELLENT and there are many financing options.

Values have continued very steady, yet with a slight increase this year.  Year to date (and it is hard to say with 100% accuracy), I’d say that the South Phoenix real estate market has seen about a 4 to 5% increase in property values.  This is really a good increase and is pretty healthy in my opinion.  We don’t want to see HUGE increases as those would not be supported and would likely be followed by a huge drop again – a correction like we saw in 2008-2012.  In some months back then we saw decrease of 5% a month!!!  Of course it had to happen as we had previously seen a huge spike in property values leading up to the crash.

Hope that helps.  Please call if you have any questions.  Looking to sell your South Phoenix home?  Let me earn your business today!!  Call 602.373.6345 to set an appointment to discuss your real estate needs.

October 19th, 2015

274 Active properties for sale

251 single family homes for sale

214 homes currently under contract

123 homes sold in South Phoenix last 30 days

$164,612 was the average sale price for homes sold

70 days was average for homes that sold

2.22 is the turn over rate or market inventory

Above of the numbers,and they give an idea of what is going on in South Phoenix real estate.  We are in a seller market for the most part, but that monthly turnover rate/inventory is growing.  Actually when looking at all zip codes it is a little deceptive as an example, 85042 has over 3 months at this point.

Where is the best place to currently list and sell your home, if you had a home to sell in South Phoenix?  Right now, today, the hottest zip code in South Phoenix is the 85041 zip code.  It has the lowest monthly turn over and actually 4 homes appear to be going under contract for every new listing coming to market.  Granted this changes on a weekly basis, but the 85041 zip has been showing this for the last several weeks, and if I had a home and was considering selling in that zip code, this could be a great time.  See, we are overall going into a buyer market in the Metro Phoenix area.  For many areas the supply of homes has increased, and with seasonal decline in sales the market is starting to favor the buyers.  Yet, the 85041 zip code in South Phoenix is bucking the trend by homes selling quick and overall values are up a bit over a month ago.

Got questions about selling your home?  Call me David at 602.373.6345 today!

October 12, 2015

284 Active properties for sale in South Phoenix, up from last week

261 single family homes currently for sale, also up from last week

197 homes currently under contract

139 homes sold last 30 days, up from last weeks last 30 day review.

2.04 current inventory or turn over rate for south phoenix

$99.88 is the average $/sq foot for homes sold last 30 days

71 days on market was average for homes sold

$169,539 was the average sale price for homes sold

Values in the South Phoenix area have been stable, with average homes sale price being in the Mid $160’s to $175’s on average for those homes sold.  Over all the south phoenix zip codes, outside of Laveen, are still experiencing a seller market, that is less than 3 months of inventory.  Those homes that are priced right are selling, and most selling relatively quickly.  While the turn over rate or months inventory appears to have gone down this past week, I will attribute that to several UCB (homes under contract with contingencies) which closed.  This tends to be a status that is descriptive of homes that are short sales, so we may have had several finally getting approved.  If this was an anomaly, then we may see that turnover rate continue to grow as it had been for the last 4 weeks.  We’ll keep track and see what happens.

Over all though, the South Phoenix real estate market is real healthy.  We are seeing a fair number of closings, as well as fair number of homes going under contract.  Actually for most homes recently listed (that are listed at a fair market value and not based on some fantasy land number), are going under contract quickly.  Right now for every new listing about 2 homes are going under contract, yet inventory is going up.  See, ones that get listed at value are selling, those others are helping grow the inventory level.

October 5, 2015

Another week come and gone as we make our way through the South Phoenix real estate market this year.  Wow, time is flying!!

Funny enough while things are showing relative stability for the entire area of the South Phoenix market, there are slight shifts going on.  This shifts are not being seen when looking at the entire South Phoenix market, but more so when you look closer at individual zip codes.  For example at this time the 85042  zip code saw a relatively large drop in number of closings for the last 30 day, from 42 to 33.  May not seem like much, but that there is about a 20% drop.  We will have to keep track to see if this is a one time occurance, or if shows things to come.  Also, while the 85042 zip has slowed down in closings the 85041 has seen very consistent closings and a decrease in active listings.  This in turn has dropped the over all turn over rate/market inventory for that zip, and also in essence is helping to make sure the numbers while looking at the entire South Phoenix area appear more stable.  My point, this information I give is a great way to gauge and look at the over all market, but if you are considering selling, be sure to look at homes specifically like yours and in your area.

276 Active properties in South Phoenix

252 single family homes in south phoenix

199 homes currently under contract

129 homes sold in South Phoenix last 30 days

$101.84 average $/sq ft for homes sold last 30 days

63 was the average days on market for the homes that sold

 

Lets look at something else today as well:

$247,523 and $175,547.  These two numbers represent the average list price (all active listings) and the active median sold price (the sold homes last 30 days).  Mentioned above that the average days on market for homes sold was 63 days, yet the average for homes that are active is sitting at 91.  It is also interesting to look at the average price of homes under contract, which is pretty much the same.  In other words many home owners may very well be over listing the price of their homes.  Just food for though for home owners that need to sell.

September 28th 2015

We have a couple of fewer homes being actively sold compared to last week, but beyond that it has been a stable week.  I like to try and study the market daily, but really giving a weekly look and review works wonders.  This will allow me and by default you to see if there are any sudden changes or shifts in the market.  While the last week is almost significantly steady, we have seen that the number of active listings has grown a bit from about a month ago.  Nothing major, and nothing that is having any affect at this time.   We are still in a seller market for single family homes standing at 2.17 months of inventory.

279 properties for sale

253 single family homes for sale

221 homes currently under contract in South Phoenix

128 homes sold in last 30 days

57 was the average days on market for homes sold

$103.30 was the average sale price for those homes sold

$185,699 was the average sale price

Homes are indeed selling, you just got to make sure to price them right.  While we are seeing a seller market still, that changes when you start looking by price range.  Most homes under $250,000 in our area are indeed a seller market, once you go above that dollar figure, not so much anymore.  Once over $250,000 we are at 4 months inventory and it only gets a little more so the higher we go in our area.  What does this mean to you as a seller?  Well, it means make sure you know what is going on in the market and how to aggressively market your home.  Call me for questions.

 

September 21, 2015

Feel like just saying same as last week, just read below.  Things are still incredibly steady in the area.  While last week I mentioned gradual increase of turnover/inventory this week the numbers show that any increase for the south phoenix area has not changed, though slightly.  We are now back down to about 2.26 months inventory.  What does this mean?  Well over all things are just moving forward the way they have been.  Last week the federal reserve decided to keep interest rates where they are at, and as such we are still seeing low purchase interest rates.  Good time to buy. We are seeing a little increase in number of active homes, so buyers are starting to get a little more choices.

281 properties currently for sale

256 single family properties for sale

219 homes currently under contract

124 homes sold last 30 days in South Phoenix

$100.91 was average $/sq ft for homes sold

50 was average days on market

Is it a good time to sell?  Good as any.  Buyers are still buying, as mentioned interest rates are still low so this is good.  For specific questions feel free to call.

September 14, 2015

What else can I say about the South Phoenix real estate market at this point, it is steady.  As mentioned last week, there could be signs of change, but they are very gradual.  We are seeing an increase in the turnover rate or what I call inventory.  We are up from 2.21 last week to 2.3 this week, and 1.6 early August.  Not a huge increase, but it can be showing that we are seeing a shift.  Number of homes under contract is steady, the number of homes selling every 30 days is steady, the average prices are steady, not much else to report.  Homes are selling, if priced right.  If they are not, they are staying on the market until sellers bring home to right price.

256 active properties for sale

233 single family homes for sale

111 homes sold in last 30 days

$98.94 is the average $/sq ft for homes sold

56 was the average days on market for homes sold

Looking to sell you south Phoenix home?  If you are, make sure to call your local expert David at 602.373.6345.  Not only do I work and specialize in the area, I live here too.

September 8th, 2015

Welcome back from your holiday weekend, it appears it is time to be back at work.

The market has it ups and downs over time, but for the current time it has continued pretty stable.  That being said, I am starting to see possible shifting in the numbers, which while still holding stable, could indicated a change should the trend continue over time.  Now, if we saw a big change, it would have a quicker impact.  For example, our sales in South Phoenix have been very consistent anywhere between 120 to 156 sales when looking at sales over the past 30 days.  Well, if that dropped, to say about 60 to 75 or so for a 30 day period, that would have a big effect.  In essence it would cut down the number of sales by 50%, and this would give us more active homes on the market, a larger turn over ratio (months inventory) and could indicated a buyer market more than likely.

At this point, we are still in a seller market.  Sellers currently hold the advantage, as there is 2.21 months of inventory, and this is something that favors sellers.  With a low inventory, buyers are competing for active homes and sellers can often sell quicker, and for asking price or more (maybe) if they are priced right and have multiple offers.  Well, inventory/turnover has increased a little.  Number of sales for this period last 30 days is down, and the number of homes currently under contract is also down a bit, which could mean soon we will have more active homes too.  All said, this could see that inventory grow more, and if it does and goes over 3 months, we may see the tide begin to favor the buyer.

Also, the fed has begun talks of increasing interest rates.  If rates go up, we could also see a slow down of buyers/sales, which could also lead to larger inventory.  Time will tell on that one, we are not there yet.

252 active properties for sale in South Phoenix

232 active single family homes for sale

217 single family homes currently under contract

114 homes sold last 30 days, this is down a bit

$99.27 was the average sale price/square foot for homes sold

54 was average days on market for those homes that did sell

I can’t stress enough.  This article, is really to help home owners in my area of South Phoenix have a feel and understanding for what is going on in the real estate market.  The market does shift, change and values go up and down.  Knowing what is going on in the market, is key to getting the most money for the sale of your home.

August 31, 2015

Depending on sales for the last 30 days, we can see some fluctuation on $/sq ft as well as average sale price.  Thing is though, these two things have been pretty steady for many weeks, and frankly for a good year plus.  One thing about South Phoenix real estate is that it has maintained steady value since late 2013, with no real major increase in value.  Again, depending on what has sold in last 30 days, it does fluctuate.  Also, keep in mind that I’m taking 3 zip codes that form south phoenix into giving an over all idea as to what is going on in the area.  What is happening is that homes are indeed selling, values are holding steady, and inventory has been steady as well.  I should mention that the inventory level is of course still within what is described as a seller market, that is, there is a lower inventory of homes and as such there is some competition from buyers to purchase.  This is happening much more in the under $200,000 range, and one may not see as much competition in the ranges over $200,000.  Actually, once you get over $300,000 you may find your in a buyer market.  I say this, so as a seller you make sure to study and understand the market.  A seller who knows what is going on has the best chance at making the most on the sale of their home.

258 active homes for sale in South Phoenix

225 single family homes under contract

130 homes sold in last 30 days

$95.28 is the average $/sq ft for homes sold

$169,455 was the average sale price

62 is the average days on market for homes sold

How can you, a seller make the most on the sale of your home?  Well, price the home correctly.  Have home looking in the best condition possible, and lastly market the home extensively.

 

August 24th, 2015

Wow, unlike the rest of the Phoenix area, South Phoenix just saw a slight decrease in number of active listings.  It does appear though, that the decrease may very well be from properties which have decided not to sell.  See, they are not under contract, and they have not sold, the decrease is exclusive to the number of active listings.  Chances are, they may have expired and they may be coming back on the market after a brief review of the South Phoenix real estate market.

256 Active properties for sale in South Phoenix

232 Active single family homes for sale in South Mountain

232 homes currently under contract in area

136 single family homes closed in the last 30 days

$95.53 was the average $/sq. ft

$168,328 was the average sale price

62 was average days on market for those homes selling

1.88 is the turn over rate or months inventory

It is a seller market in South Phoenix, WHICH makes is a great time to sell.  Even though summer moving is coming to a close, the activity and inventory still lends itself toward a seller.  Chances are if priced right, it will get quick attention and get a solid offer.

For specific questions, please call David at 602.373.6345

August 17, 2015

Been gone again for about 10 days, yet even then managed to take a listing and sell 2 while I was gone.  Hurray for me, but really good for my clients as I provide them with great service and get deals done even while on vacation.  That is the difference (not the only one, but one) that shows professional realtors from others.

Ok, what about the South Phoenix stats?  Inventory still remain very stable, and we are still in a seller market.  Current market turnover, or inventory as I like to call it, is at 1.89 months of inventory.  Current number of active listings is still lower than the earlier part of the year, which makes sense as we have an increase in activity during the summer season.  We likely will see a further increase in active homes as we come out of the summer months, after families have bought and made their moves, now with most kids back to school.  Really, the best description I can give for the current south mountain real estate market is steady.  Do we see values going up a little bit?  Well yes, but nothing drastic, it has been a steady and very slow increase, almost insignificant.  Current average dollar per square foot for the last 30 days is $96.02, which is really on par where it was about 2 weeks ago, and 2 week prior to that!  Steady.

269 homes currently for sale in South Phoenix

247 single family homes for sale

216 homes currently under contract

142 homes sold in last 30 days in South Phoenix

$96.02 was the average $ per square foot

$173,316 was the average sale price

1.89 months of inventory or the turn over rate

68 was the average days on market for the homes sold

SELLERS TAKE NOTICE OF THIS – average current days on market for homes active on market is 89 days, with longest on market at 725 days.  So if most homes that are selling are on average taking 68 days, and active listings have an average of 89 days, it appears that some active listing are likely not selling, right?  There is a buyer out there for every property so long as location, condition and price are in line.  Most likely, if a home is not selling, check in with realtor and analyze which in not lining up, and if you do re align home will sell.

August 6, 2015

Sorry folks, had to take a quick vacation and run the kids to an amusement park – super fun!!  Lets get to work and look at South Phoenix numbers

257 homes currently for sale in South Phoenix

240 properties for sale which are single family homes

214 homes currently under contract

156 homes sold in the last 30 days

$96.35 was the average $/sq ft

62 was average days on market

1.64 is the current inventory level

Inventory level has been fluctuating a bit, but overall, the level is still under 3 months which is a seller market.  Values still are holding steady, and no real increase in value is being seen, really just a stable market.  Is is a good time to sell in South Phoenix and Laveen?  Yes, I think so, as it is a seller market and as such you will have possible competition for your home and could negotiate the best deal.  Call me David at 602.373.6345 for a free consultation and strategy session.

July 20, 2015

Steady as she goes is what is going on in South Phoenix.  Number of active listings has not altered much, closings are still consistent, so all is well right?  Values are holding steady, though the area is still going through a seller market.  Currently the inventory and turn over for single family homes is shy of 2 months.  This is making it a little harder for some buyers to be able to find and get that home, especially in home values ranges under $200,000.  Homes are still selling above those prices, but there is more competition and longer sales times.  Currently the Highest sales price over the last 30 days in South Phoenix was in the community of Talasera in the 85041 zip code.  This home is a semi custom home on a gated community, with most homes on about 1/3 of an acre.  Home sold for $455,000.  85042 has the most homes under contract over $500,000 and both of them are in the desert rose community south of Baseline Rd and about 32 street.  This is a nice community that is of course gated, and borders the south mountain desert preserve.

265 active homes for sale on the market

223 homes currently under contract

133 homes sold in last 30 days in South Phoenix

$98.13 was the average $/sq.ft for homes sold

$176,792 was the average sale price

75 days on market was the average for homes sold

Folks, as a home seller or owner considering selling a home, be sure to price your home right!!  I shared before how homes in the area don’t sell if they are not price right.  Above I mention that the average for homes sold is 75 days on market.  Yet currently 96 days is the average for active listings.  The longest home on market has been on market for 752 days, which is a long time!!  If you have specific questions about your home, marketing and getting a home sold, give me a call at 602.373.6345.

July 13, 2015

Looks like we say a slight increase in the number of active listings in the South Phoenix area over the last week.  The total number of homes under contract has gone up a bit,  and closings over the last 30 days are pretty stable.  Our inventory/turn over is holding steady, so we are still in what we call a seller market.  South Phoenix is likely seeing more of the seller market at homes valued under $200,000 and a little less so at homes over $300,000.  Actually once you look at higher valued homes in the area, it is a buyer market.  Important to know to help you make the most out of your purchase or sale.

264 active homes for sale in South Phoenix

240 homes in South Phoenix under contract

130 homes sold and successfully closed last 30 days

$96.66 average dollar a sq/ft for homes sold last 30 days

$171,092 was the average home price for homes sold last 30 days

79 was the average days on market

$1,333,000 is the highest price home on the market at this time in South Phoenix

$600,000 was the highest sale price last 30 days

July 6, 2015

Much like the Laveen area, South Phoenix just saw a slight increase in $/sq foot based on sales last 30 days.  Big reason for this jump was because of a couple of homes that sold in the higher price range, in this case there was a $600,000 sale that is increasing the numbers just a bit.  The true test is to see if this value of $97 a square foot will stay up, or whether it will go back down a bit.  My guess, it will come back down a bit after a couple of weeks because the area has been real consistent in the low 90’s for some time.  Number of active listings is staying pretty consistent as are the number of sales.  Over all we have a stable and consistent South Phoenix real estate market.

257 active homes for sale in South Phoenix

237 homes currently under contract

134 homes sold last 30 day

$97.46 average $/sq ft

$172,480 was the average sale price for homes in south phoenix last 30 days

1.91 is current inventory or turn over rate

73 is the average days to sold for homes sold

Looking to sell your South Phoenix home?  I’ve both lived and worked as a full time realtor in the area for a decade.  I’d love the opportunity to earn your business, call me today for an appointment at 602.373.6345 or email at dabaker21@msn.com

June 29, 2015

Not much change over the course of the last week for the South Phoenix real estate market.  We have about the same number of active listings for sale in South Phoenix, and we still are seeing about the same number of homes sold as well.  The turnover rate or inventory level is still constant at about 1.7 months, which again, is really a little more of a seller market.  Funny thing is though, while the turn over rate shows that we are in a seller market, it is really also based on price ranges as well and those homes selling at a higher price range are still in a buyer market.  My point, know where, what and who your competition is when selling so you can determine the best strategy to  the sale of your home.

South Phoenix real estate by the numbes:

256 homes for sale in South Phoenix

250 homes currently under contract in South Phoenix

149 homes sold in last 30 days

$94.38 was the average $/sq foot for those homes sold

$170,388 was the average sales price for homes sold

62 was the average days on market

If your looking to sell, please make sure to compare similar properties.  The above information is based on all properties in the zip code and should not be used to determine your specific home value, but can give you an over all idea based on zip.  If your looking to sell, call me, I’d be happy to help you market, negotiate and of course determine your South Phoenix home value.

June 22, 2015

We are hovering around the same number of active homes as last week, so inventory of active homes has been stable for at least a week.  Over all the values appear to be holding steady for the south phoenix zip codes.

258 Active properties for sale in South Phoenix

236 active single family homes for sale

248 south phoenix homes currently under contract

150 homes sold in south phoenix last 30 days

$94.76 was average $/sq ft for homes sold last 30 days

$170,148 was the average sales price

67 was average days on market for homes sold

1.72 is the turnover rate in months – again, we are still in a seller market

What to do to sell quick and for the most?  Really, make sure to price it right!  Call me today to schedule an appointment to find out your home value and discuss selling strategies.

June 15th, 2015

Number in active homes for sale on the market has taken another dip, which translates to lower inventory!  Of course it is to be expected that we are now coming into the busier time of the year for buying/selling homes in the South Phoenix area.  The number of closings in the area has been on the rise, and again this is common in the summer months.  Through out the south phoenix zip codes values have been remaining pretty stable as a whole, in the mid $90’s a square foot.  With new ratio I’m using, it does still appear that the number of new listings coming onto market, is not really keeping up with those that are going under contract.  Which along with the current inventory turnover rate we have, we are in a seller market.  Yet, as we are in a seller market, I’m still not seeing buyers paying over list price for homes being sold, and this is based on the averages of all homes selling in the area.  Yet, we are seeing those homes listed at market have multiple offers, and while I can’t attest to those I’m not selling, we are seeing a better net to the seller.  Good right?

257 Active properties for sale in South Phoenix

237 of the properties for sale are single family homes

246 homes under contract

150 homes sold in last 30 days in South Phoenix

$95.06 Was the average $/sq. ft for homes sold

$169,810 was the average sale price

64 was the average days on market for those homes that sold last 30 days

1.7 is the current turn over rate or months inventory.

If you are truly looking to sell, make sure your comparing similar homes to determine value, if not your leaving money on the table or possibly over pricing your home.  Better yet, give me a call and let me show you what I can do to net you more on the sale of your home.

 

June 6th, 2015

I have not used another ratio to help determine market trends on my own before, mostly because the mls system was not working well for it.  Tried it out again today, and it appears to have worked out its kinks, so I’d like to share some of the information that it tells.  The ratio is the new active listings vs. the new pended listings (under contract).  This helps give an idea of what is going on in the market.  For right now, the south phoenix and laveen area are all in a seller market.  This again, is when the inventory is low, and buyers are competing for the few homes on the market.  This of course generally will  benefit sellers as they will have the upper hand, and most likely to get an offer that is best for them.  They may even see multiple offers.  If you do notice though, values are not rising in any super quick way.  So if your a seller wanting to sell, you likely will be selling for market value, as it appears buyers are competing for homes, but not over paying for them.  So, the ratio. currently in all south phoenix and laveen zip codes, at minimum 1.56 homes are going under contract for every new home on market.  So, we have more going under contract, than are being placed on market.  This is for past 30 days.  Again, it describes that we are seeing less homes coming to market, and thus a lower inventory as well.

Currently 280 homes for sale in south phoenix

253 of those homes for sale are single family homes

246 homes currently under contract

134 homes recently sold in South Phoenix last 30 days

$91.69 was average $/sq. ft

$169,288 was average sale price

65 was average days on market for homes sold

Again, as I always say, if you are truly looking to sale don’t base it on above information.  This takes all homes, property types, sizes and conditions into consideration to get an over all idea of the market.  For selling your specific home, you’ll want to look at similar homes.  Call me to discuss your home sale if your looking to make a move.  Thanks,

June 1st, 2015

Well for south phoenix over all we have not seen much change.  The number of current homes on market, under contract, and even homes recently sold are have been very constant.  Matter a fact, it has been so even steven, that you could just review what I said last week, as numbers are almost identical.  What does this mean?  Well homes are selling, but values have not been moving.  Also, we are seeing a low level of inventory, which is creating a little bit of competition for buyers.

282 active properties for sale in south phoenix

243 Homes under contract

129 homes sold last 30 days

$94.64 was average of homes sold

$172,650 Was the average sales price

67 was the average days on market for homes sold

Folks, home are indeed selling.  It is a good time to sell in south phoenix.  They key is price your home right, get a solid offer, then negotiate the best net or take away for yourself.

May 26, 2015

Again, nothing very spectacular to report this week as far as South Phoenix home values.  Homes are holding steady value, of course some fluctuation can be seen week to week, but over all the values have been incredibly stable.  Here it is by the numbers:

281 active properties for sale in South Phoenix

271 homes currently under contract

129 homes sold in South Phoenix last 30 days

2.17 months inventory – this is up  a bit

$94.66 average dollar/sq ft for homes sold

$171,884 was the average sales price for homes sold last 30 days

66 was the average days on market for homes sold

The new listing to pending(under contract) ratio is about 25%.  This means that for every home going under contract 4 homes are coming on the market.  This actually may show that inventory may grow, but like anything in life, we have change.  Should this new listing/pending ratio keep steady, we will see inventory grow.  Time will tell.

For now, we are still in a seller market which favors sellers.  Still, I’m seeing homes that do get listing at over the actual value, and they are not selling.  Those homes  that do get over listed sit, until the owner/realtor drops price to market value in order to sell.  This can be seen on the monthly mls charts I have shared, which shows about 2.5% to 5% under original price selling for the mls, and even more for those who have done price drops.  Food for thought home owners looking to sell, price right, price well, and sell.

May 18, 2015

Well, we have activity as always.  Last 30 days we are seeing a slight increase in active listings, which may show that some sellers are deciding to get off the fence.  We are also seeing a slight slow down in turn over rate or inventory growth.  Prices again, as I have said for some time in my articles, prices are pretty stable.  Depending on what sells in the past 30 days, the average dollar per square foot has been incredibly stable.  So where are we currently?

280 Active homes for sale in south phoenix

248 single family homes for sale

269 homes currently under contract

135 homes sold in South Phoenix in the last 30 days

2.07 months inventory – still a sellers market, but not like we say years past

$93.69 average price/sq. ft for homes sold last 30 days

62 average days on market for homes sold

What does this all mean?  Well in a nutshell, homes are selling.  Homes that are selling are priced right, and if priced right because it is a sellers market you might see multiple offers.  Now, depending on price range, you may actually be in a buyer market, for example homes in South Phoenix over $300,000 which currently has about 9 months inventory.  See, it pays to know your market.  So if your looking to buy or sell, call me David at 602.373.6345 I know the market, and I can help U.

May 11, 2015

What are most folks thinking is happening in the real estate market here in South Phoenix or even South Phoenix home values?  Well truth is, many think that values are really just starting to shot up.  Yet, going on numbers that I have been tracking, values are still staying incredibly stable or to say they are stable.  I’ve also reviewed numbers put together by the Arizona Multiple listing service, and even with numbers shared by the association we are seeing that the values are still pretty stable.  Matter a fact for the entire Phoenix market the sale to original list price is about 96%.  That is to say that the homes that sold at their original list price, sold for on average 4% less than the listed price.  So you see, homes are not going for over list, which is something seen a good bit when values are going up, and at this time we are not seeing that increase.

276 Active homes for sale in South Phoenix

259 homes currently under contract in South Phoenix

141 Homes in South Phoenix in last 30 days

$161,097 average sale price homes last 30 days

$95.42 average dollar a square foot in South Phoenix

Folks, keep in mind these numbers are taking the South Phoenix zip codes ALL into consideration.  In other words, if you are looking to sell your South Phoenix home, you really need to consider looking at similar homes to help determine the value of your home.  If you’d like me to stop by and give you an idea of likely sales price, call David at 602.373.6345.

 

What do these numbers tell US?  Well, frankly it is a good time to sell because it is a seller’s market for single family homes at this time.  Yes, we are under 3 months inventory for homes in South Phoenix and this is good for sellers’.  While values do not really seem to be going up, they are not going down either, real estate in South Phoenix has been relatively stable since Summer 2013 when it did see  a big increase in values.  As of now though, values are currently just holding pretty steady.  With the seller market going on though, one may begin to see a little increase in home values or possibly just negotiations strategies changing to allow the seller to net more money at the closing table.  While I don’t share all here (just too much information) I can tell you that it appears the list to sale ratio is still under 100%.  Many zip codes in the south phoenix area are seeing sales prices at 3%-5% under original list price.  So while houses are selling, it appears that buyers are not going crazy offering over list price for homes.  Time will tell of that will change, but again for now prices hold steady.

The number above are for the entire 3 zip codes in the area.  If you really are wanting to find out the value of your home because your considering selling, I recommend you DO NOT use the above numbers.  These are just informative about the over all health of the South Phoenix real estate market and the trend we are seeing.  This is really not a good source to use or determine the value of your specific home.  In determining the value of you home the use of similar homes is necessary to give the best idea of current market value.  Call me David today at 602.373.6345 to set a no obligation appointment to discuss the value of your home and how to best market the home for sale.

 

 

Sellers Tips for South Mountain or Laveen Home Owners

By David Baker – Things sellers should consider if sellling in South Phoenix, South Mountain or Laveen.

Price

Likely the single biggest mistake home sellers in our area make, is to set a too high list price. A list price suited both to the home and to the market conditions will likely attract more buyers, increasing the likelihood that you’ll get a higher price in the end.

Staging the Home

Sellers houses that are not at their best are another source of lost profit. Act on good advice you are given about cosmetic changes and minor repairs.  Small cosmetic changes that are cost effective can make a large impact on first impressions from buyers.

A sellers home that shows clean, tidy and sweet-smelling goes without saying.

  • Sellers should allow for viewing hours for the greatest accessibility to buyers. In a competitive market, people can easily go elsewhere and fall in love with another house.
  • Home sellers should not be home during the showings. Prospective buyers feel more comfortable raising concerns and poking about when the current owners are not present.
  • Home sellers should remove as many personal items as possible. The things that mark the house as yours interfere with the buyers’ abilities to imagine it as theirs.

 

Other Considerations

Sellers should sell before you buying to avoid loss of negotiating position at both ends. Plan for the move early, and pack as much as you can as soon as possible.

To find out the value of your Laveen or South Phoenix area home request it for FREE here.

Recent Home Sales – Laveen Az 85339 recent sold homes

By David Baker

Recent home sales in the area are one of the best ways to find out home values.  Do you know what profession is held to the highest standards to determine the value of a home?  The profession that deals with finding property value is the appraiser.  What I want to share is what special tools an appraiser needs to use to help determine value of a home.  Any appraiser looking to determine value of a home uses recent home sales as their go to “tool” in a specific area in which the subject property is located.  Even realtors working with their buyers will provide their clients with recent sales in the area.  This helps buyers in making a decision on their offer price based on recent sales and activity in the area.  Recent home sales are also used by realtors looking to help their sellers determine a list price for homes that will be placed on the market.  This gives sellers a statistical evidence of values of similar homes, and what one can expect home value to be.  When listing a home for sale this home value then can help realtors and their sellers determine their opinion of what a home will fetch on open market.

To help home sellers in this area, I’d like to show recent solds in the area for the last 60 days.  It is important to know, this is a great tool to help you determine the value of your home.  Unfortunately MLS regulations don’t allow me to post a live link showing this homes, but I can e-mail them to you.

Click here to request yours today!!  Yes, you will have to fill out form, but without the information, how can I get this valuable information to you?

Laveen and South Phoenix Values on the Rise

As a realtor in the Laveen and South Phoenix area, I like to keep track of the values of homes over all. Of course anyone not living under a rock saw that prices plummeted in previous years, but that values for the past year have been on the rise. Some of the increase of values, big increase, can likely be attributed to the low inventory we are experiencing. Many buyers under the $200,000 range are finding themselves competing against several others offers when bidding for a home. So, if a buyer wants to get into a house, they may likely have to bid over asking price to get into the home.

What are the average home values right now in Laveen?

As of this week July 15, 2013 the average home price in Laveen is about $169,574. This is about $79 a square foot. What is amazing is the huge increase in values since the start of the year, about 20% in the Laveen area.

What are the average home values right now in South Phoenix?

South Phoenix home values, like Laveen have also been going up. The home values in South Phoenix 85041 zip code are currently averaging about $143,362. The home values in South Phoenix zip 85042 are higher average of about $173008. Much like Laveen, South Phoenix has also seen a large increase in value from the start of this calendar year.

If you’re looking to sell and want to find out the value of your home, don’t go by these numbers. These numbers are looking at the large picture, and when determining your personal home value, you really need to look at a smaller pool of homes similar to your own.

Market Value of Property in South Phoenix and Laveen – April 22 2013

Welcome to Market Values in South Phoenix and Laveen for the later part of the Month of April 2013. The values in the South Phoenix and Laveen area could be said to be steady, but they have indeed been rising over the last year. In fact the area has seen as high as a 42.3% increase in values over the last 12 months.

Currently the Laveen Arizona 85339 area has 1.3 month inventory of homes, making this a seller’s market. 94 Active homes are currently on the market in Laveen Az 85339, with 225 additional homes under contract and in some stage of the closing process. The Laveen Az 85339 area is seeing about 72 closings in the last 30 days and averaging about $164,000 sales price.

The rest of South Phoenix market including zips 85041 and 85042 are averaging about less than 2 months inventory as well. Both areas are also seeing monthly closings of about 75 and 38 respectively. Average sales price in the South Phoenix 85041 zip is about $126,000. Average sales price in the South Phoenix zip of 85042 is about $168,000.

If you need help buying or selling please let me know. You can request information at this site, or call at 602.373.6345.