A look at South Phoenix home values 2018

A look at South Phoenix home values 2018

What to we look at with home values 2018? 

Well, we will be looking at the market activity by paying attention to a couple of key items which help us monitor the real estate market:

  1. Homes for sale
  2. Homes under contract
  3. Homes sold in last 30 days

In addition we will discuss the type of market, and if values appear to be appreciating, holding, or possibly depreciating.  As home home owner/seller or even buyer these are all important to know.

If looking to buy –

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.

 

The look at home values for South Phoenix 2018 start here/below.

I will post updates as weeks go by, so the latest update will appear on the top.

January 16th, 2018

Most recent update for our area of South Phoenix and the current real estate market and trends:

268 properties for sale

195 properties under contract

135 properties sold in last 30 days

1.98 months of inventory

58 days average time to sell

$227,631 was average sale price

$125 was average $/sq ft

Commentary – We saw a slight slow down over the last 30 days in the number of closings.  This is usually the case during the holidays, and is very likely the reason we saw an increase in inventory.  Chances are, we will see it level back out as number of sales increase coming out of the holiday season.    Overall prices have been slowly appreciating, and all indicators show that trend should continue.

 

January 8th, 2018

Below is the latest information for South Phoenix and home values:

260 active properties for sale

187 properties under contract

156 properties sold in last 30 days

1.66 months current inventory

$129.26 was average $/sq ft

$224,444 was average sale price

50 was average time to sell

Commentary – Property values continue to hold with slow appreciation.  We did see values increase over the course of the last year.  Currently inventory is still under 3 months, so inventory remains low and this continues to benefit sellers.  Still great time to sell if you are considering.

January 2nd, 2018  – Happy New Year

Find below information on how we are currently positioned, and how we are closing out the year as far as South Pheonix real estate homes, properties and values:

270 properties available for sale

189 properties under contract

156 properties sold in last 30 days

1.73 is current inventory level

$129.11 was average dollar a square foot for sold properties

$229,328 was the average sale price for homes sold

55 was average days to sell

Commentary – I don’t recall writing an update, so early in the year (1 day), and as of today “0” homes have sold in the South Phoenix and Laveen area to date.  No worries, I’m sure we will have several by Friday.

We start the year, much as we left off, which is with a low level of inventory.  The seller market continues for the time being.

Good time to sell?  Yes it is.