Laveen home values 2017

A look at Laveen home values 2017

First, let me give you a little information about Laveen, and just below, you’ll see the most current update on values.

Why do people live here? 

While the weekly article will focus on Laveen home values, would like to start with what is Laveen.  Laveen Az  is a rural feel community where modern living meets a rural lifestyle, with close commutes to Central Phoenix.  Laveen Az is among the perfect choices there are in the Metro Phoenix area for an abode.  Laveen offers a variety of different style homes including horse property, santa fe, gated communities, custom homes on acreage, and all with great mountain views.  While laveen Az offers a very rural feel, all modern amenities are close by with easy access to grocery stores, drug stores, high way access and local area malls.  Outdoor enthusiast also can enjoy the 16000 plus acres of mountain preserve offered by South Mountain.  Laveen Az offers a little something for everyone.

 

Looking for a home in Laveen Az?

Click here for the most current list of homes for sale in Laveen Az.

 

What’s Laveen Az like?

Laveen Az has several different style communities that make up this Phoenix suburb.  Originally Laveen Az had been mostly an agricultural and dairy area, as is still evident by some of the area dairies and plenty of open acreage that is farmed.  With that in mind you still have some older homes in the area which were originally housing for workers to the land in the area.  As the area began developing many farmers  sold off their land and eventually gave growth to new home subdivisions.  There are several new home subdivisions in the Laveen Az area, with the majority being built 2000 -2008.  There are also several 1 acre custom home sites that were built along the southern edges of laveen Az and as well as around 51st ave/Dobbins as well as 67th ave and Baseline.  So you have open farm land, horse properties on acreage, some older homes in pockets, and also several newer home subdivisions.

If your considering selling, I would recommend a home evaluation by a professional realtor.  While the numbers here given are information, they also use all homes in the Laveen Real estate area, and it is best to use similar homes when deciding on home value.

July 17th, 2017

Here are this weeks numbers, followed by quick commentary:

147 active properties

105 properties under contract

93 sales in last 30 days

1.58 current inventory

$104.87 was average $/sq ft for sold homes

$238,122 was average sale price

47 was average time on market

Commentary – Wow, it has been about a month now where we have seen small incremental increases in the monthly inventory.  What does it mean, will market shift, is it too late to sell?  Well, at this point, all we have is 4 weeks in a row, where the turnover rate has increased, yet we have been over 2 months inventory this year, and it is STILL a seller market.  Interestingly though, notice that the average $/sq foot this week is the LOWEST since, 2016.  Yet, the average sales price has been about the same, so maybe we have more larger homes selling, and those do at times sell for less a square foot than their smaller counter parts.

In the end, the cliff note – values continue steady, it continues to be a seller market in Laveen, and homes are still selling if priced at market value!  NOT OVER.  Those over priced, sit on market, while well priced…………….well those sell.

July 10th, 2017

150 properties for sale

106 number of homes under contract

95 properties sold in last 30 days

1.5 months of inventory

$107.76 was average $/sq ft

$238,279 was the average sale price

50 was average days on market

Commentary – Interestingly, number of active listings has diminished, and yet inventory has crept up a slight bit.  Not that it is alarming in itself as we have had inventory levels even a little over 2 months, in this calendar year.  Yet, it seems interesting the active listings are down, even homes under contract are down, and along with that inventory has held steady.  HMMM, if we had more listings, like the 180/190 we had in 2016, we would have over 3 months and it would be a buyer market.

Yet at this time, it continues to be a seller market and a great time to sell.

June 26th, 2017

Below are the latest numbers, pulled from the mls myself this very day:

155 properties for sale

130 number of properties under contract

104 properties closed in last 30 days

1.49 current inventory

$110.20 was average $/sq ft

$236,554 was the average sale price

52 was average days on market

Commentary – Really not much change in the Laveen market.  We continue with a seller market, and yes, continues to be a great time to sell.  Will this continue?  Time will tell, but indication for now show market will continue as a seller market for the time being.

 

June 19th, 2017

Find below the latest and greatest along with some market commentary to follow:

160 properties currently for sale

124 properties under contract

117 sold last 30 days

1.36 months current inventory

$111 was average $/sq foot for sold homes

$231,075 was average sale price

57 was average days on market, for sold homes

Commentary – Well, as one can see we have gone into the summer months and the volume of sales has increased!  In truth, this is about the only seasonal change I’ve witnessed in all the years in real estate, that is fairly consistent in our area.  That is to say, we see a increase in the number of homes sold.

So we are still in a seller market, with low inventory, and this is great for home owners.  It is a great time to sell, as there are many buyers looking for homes, and little to choose from.

June 12th, 2017

Here are the latest numbers for Laveen home values:

156 active properties for sale

133 properties under contract

100 properties sold last 30 days

1.56 current market inventory level

$110.41 average $/sq ft for homes that sold

56 was average days on market

$227,679 was average sale price

Commentary – The seller market continues.  They key indicator, is really the level of inventory we are currently experiencing, which is at 1.56 today, and indicates a seller market.  We still see a pretty significant gap between the average list price per square foot $117.90 and the average sale price per square foot $110.41.  When looking at the entire zip over the last year, variance has been anywhere from about $25,000 to upwards of $40,000 difference.  Point is, price it right, or it won’t sell.

Homes are selling relatively quick, with the average for zip just under 2 months.  Is it a good time to sell?  I would say yes, as it is a seller market and home values have increased and now are holding pretty steady.

June 5th, 2017

Here are the newest numbers:

153 active properties

145 properties under contract

90 sold last 30 days

1.7 months inventory

$109.87 average $/sq ft

$231,664 was average sale price

Commentary – Again not much change.  Seller market, values are steady with slight appreciation.  Great time to sell.

May 30th, 2017

I hope everyone had an enjoyable memorial day weekend, and took some time to remember those who lost their lives in service of our country.

Here are this weeks numbers and the update:

161 properties currently for sale

149 properties under contract

74 properties sold in last 30 days

2.17 is the current inventory level

$230,060 was average sale price for homes sold

$111.17 was average dollar a square foot for sold homes

Commentary – Not really much to add, the Laveen real estate market really has been very steady and consistent.  Values continue to hold steady to date, with slow year over year growth.  With interest rates still at these historic lows, it makes it a great time to buy.  Also, with values having seen almost 3.5 years off appreciation, it is also a great time to sell.  Gone are the days with a high percentage of home owners had No equity, most homeowners now can sell and walk away with money.

Sellers, you often hear about selling to an investor and avoid the hassle.  As they say, if it sounds to good to be true, it likely is to good to be true.  An investor always tries to make money, and the way to do it when buying directly from the homeowner, you do it by sharing in THEIR equity.

May 22nd, 2017

Find below the most recent information for homes, values and recent activity in Laveen Az:

156 properties active and for sale

153 properties under contract

75 properties sold in last 30 days

2.08 is current month inventory

$112.42 was average $/sq ft

$231,807 was average sale price

59 was average time to sell

Commentary – Market and home values continue as they have been going.  That is to say, we continue was steady sales, values are holding steady and buyers are buying.  We have a low inventory of homes, and turn over is happening relatively quickly, with homes averaging about 59 days to sell.

 

May 15th, 2017

Find below the latest information and activity for the Laveen real estate market:

155 properties currently for sale

138 properties under contract

74 properties sold in last 30 days

63 was average days to sell

2.09 months inventory

$111.45 was average $/sq ft

$232,612 was average sale price

Commentary-  Folks, really not much change.  We are still seeing a seller market, which is an inventory under 3 months.  Inventory is still basically pretty low, and there are indeed buyers out there looking for homes.  Values have been pretty steady, though you can see from past posts that we are seeing some slow appreciation over the course of the last year.

 

May 8th, 2017

Below are the latest numbers, followed by a brief commentary on the market:

153 active properties

139 properties under contract

69 properties sold in last 30 days

2.21 current inventory

49 is average days on market for sold homes

$225,131 was average sale price

$111.93 was average $/sq foot for homes sold

Commentary – Over all, the market just keeps on moving the way it has for the last year plus.  It is a seller market, inventory is low, and we are seeing slow appreciation.  You’ll notice on some weeks values $/sq foot may be either up or down, but overall it is a steady and slow appreciation to date.

Is it a good time to sell?  I would suggest that it is indeed.  With low inventory, you have more buyers competing for available homes and can negotiate the best net in your favor.  Also, values have increased since 2013 (4 years and counting).  Will this continue?  Who knows for sure, much like all else out there, we will have to wait and see.

 

May 1st 2017,

Welcome to the new month, lets dive in and see what numbers look like today:

154 active properties for sale

129 properties under contract

69 properties sold last 30 days

$111.89 was average $/sq foot for homes sold

$217,955 was average sale price

45 was average days on market

281 sales in area year to date

Commentary – Well, again not too much change.  We continue with a seller market, which is to say a low inventory of homes for sale.  Yet, be careful, this is the case for Laveen Az as a zip code, not necesarily by price range or housing type.  What I mean is, if your home for example is price over $400,000 you are in a complete buyer market or if your selling horse property again buyer market.  So know your market first if considering a sale.

Values continue steady, although you could call it slow appreciation.  We have seen year over year growth and that is a healthy thing.

April 24th, 2017

There is really been a trend in the Laveen real estate market, for what seems a fairly long time.  The trend has been one of low inventory and seller market.  Here are this last weeks and current numbers:

160 properties currently for sale in Laveen

137 properties currently under contract

76 properties under contract

2.1 months inventory

$110.79 was average $/sq ft

$233,930 was average sale price

61 was average days on market

Commentary – Not much new to report, basically  you could read the below commentary, and it would be pretty much the same.  Seller market, good time to sell.

April 17th, 2017

Not too much change, in fact market continues at it has been for some time. Below are the latest statistics for Laveen Az:

159 properties currently for sale

131 properties under contract

77 properties sold last 30 days

2.06 current market inventory

$110.88 was the average dollar a square foot for sold homes

$230,857 was average sale price

63 was average days on market

Commentary – Like stated above, and as you can see if you’ve read below entries……….the market continues as it has been.  It is a seller market in Laveen Arizona, with 2.06 months of inventory, which is low.  Homes that are really selling the fastest are those priced under $225,000.  Horse property in Laveen is also selling pretty quickly, but mostly those under $350,000.

 

April 10th, 2017

See below the most recent information:

154 properties currently for sale

124 properties currently under contract

78 properties sold in last 30 days

1.97 is current inventory

$111.26 was average $/sq foot for homes that sold

$231,679 was average sale price

225 properties sold year to date

Commentary – As you can see from numbers above, it is still a seller market in the South Phoenix real estate marketplace.  Values have been holding steady, with of course some appreciation year over year.

In short, it is a great time to buy or SELL!  Values are not likely to see any HUGE increase in months or years to come, just continued slow appreciation.  Also, good time for buyers, as there is still awesome interest rates.

April 3, 2017

Here are the latest numbers, looking back 30 days:

158 properties for sale

111 properties currently under contract

82 properties sold last 30 days

1.92 is current inventory

$111.54 was average dollar a square foot for homes that sold

$231,756 was the average sale price

207 sales year to date

Commentary –  Things are starting to pick up a bit in Laveen, with more homes closing.  This is seasonal, something we see every year as we go into spring and summer, which is when more folks move.  Values are holding steady, as well, with small appreciation which is good.

March 27th, 2017

Let us review this past week’s numbers, and look at the over all outlook for real estate in Laveen Az.

156 active properties for sale

118 properties under contract

75 properties sold in last 30 days

2.08 is current inventory level

$108.33 was average sold per square foot

$222,469 was average sale price

70 was average days on market

Sales year to date in Laveen Az – 182 so far

Commentary – If you notice over the course of the year to date, we have seen an increase in number of homes for sale in Laveen.  Yet, we also have seen an increase in homes under contract, and the number of closings has been steady.  All this basically still shows a seller market with 2.08 inventory at this time for single family homes in Laveen Az.  Inventory is still low, demand is still good, so it continues to be a seller market……………..which is a great time to sell.  The most sales occurred in the $180,000 to $250,000 price range for the past month.  This is of course something that makes sense, as the average home sale in Laveen currently is about $222,469 as shown above.

March 20, 2017

Here are this weeks numbers:

160 available homes on market

118 under contract

74 sold in last 30 days

71 was average days on market

$107.72 was average $/sq ft for homes sold

$230,629 was average sale price

163 sales year to date!

Commentary – Not much change, as per usual lately.  Inventory in Laveen has been nothing short of consistent, and the seller market continues.  Values again, pretty much holding steady, but as mentioned many times before there is some gradual appreciation.  By this, I mean you may see 3/5 percent increase in next year, but nothing crazy in a short period.

March 13, 2017

Lets look at the numbers for this week:

147 active properties for sale

122 properties under contract

65 closings last 30 days

2.26 current months inventory

$105.76 was average dollar a square foot for homes sold

$232,439 was average sale price

73 was average days on market

Commentary – The things continue pretty much as they have been.  The market is what I would describe as stable, with slow appreciation.  The market still does favor sellers, at 2.26 months current inventory.  Good time to sell.

March 6, 2017

How about we look at something just a little different today.  Here are some basic numbers to get us started:

 

Current                                                                               Last year

149 properties for sale                                                     150 properties for sale

70 properties sold last 30 days                                      68 properties sold last 30 days

2.12 inventory level                                                          2.20 inventory level last year

$108 average sold/sq ft                                                  $99.19 average sold square foot

Comments – well as one can see some things have not changed much since last year, but one key thing has, can you see it?  Number of properties on the market, number of sales, and even properties sold were all pretty much the same, almost identical really.  The main difference though, home values have gone up.

If you’re considering selling, call me and lets see what your home could sell for in todays Laveen real estate market.  602-373-6345

February 27th, 2017

143 properties currently for sale

120 properties under contract

65 properties sold last 30 days

2.2 months current inventory

$112.13 was average $/sq ft for homes that sold

$228,729 was the average sale price

68 was average days on market

Comments – Well as you can see, we did see a little increase in number of active listings, so active listing inventory grew a bit.  We also did see a slight increase in homes that went under contract, but decrease in sales in the last 30 days.  Most sales do occur toward the end of month, so we may see that number pick up when we review closings next monday.  Homes are indeed still selling, and are doing so in Laveen on the average in about 68 days.

The key as always, is if you are looking to sell price it right, have the home looking good, and get the marketing pieces out there so that potential buyers know your home is for sale.

February 22, 2017

136 properties active for sale

114 properties under contract

71 properties sold last 30 days

1.91 months inventory

$112.49 average $/sq ft

$218,116 was average sale price

71 was average days on market

Commentary – Not much change.  Sellers market still, and that is good for sellers.

February 13th, 2017

142 properties currently for sale – up from last week

105 properties currently under contract

70 properties sold last 30 days

$112.06 was average $/sq ft for homes sold

$220,370 was average sale price

71 was average days on market

Commentary – Really not much change in the Laveen real estate market, or even home values.  You may, if you read previous post, notice a slight change up and down in sales prices and even dollar a square foot.  Yet, these are all pretty static with not a big change.  Also, if there is a change, does it stay consistent over a period of time.  As an example, this week we do see a increase in $/sq foot of about $5, but will that stick?  Chances are it will NOT, and the reason is we saw a very high sale in the area which is lifting up the numbers.  Yes, we had a almost $600,000 sale this past week, and that increase the average.  Watch, within about 2/3 weeks, it is likely to go down.  If it does not, well then we notice a good trend, that are values continue to go up.

February 6th, 2017

134 properties actively for sale

103 properties currently under contract

63 sales in the last 30 days

2.12 inventory at this time

$107.25 was average $/sq foot for homes sold

$210,747 was average sale price

62 was average days on market

Commentary – Not really much change in the Laveen real estate market at this time.  Values are holding steady, as are the average days to sell.  Inventory remains low, and this still favors sellers.  No really much more to add.  It continues to be a good time to sell.

January 23rd, 2017

Lets go ahead and share the numbers for this past week, and then follow it up with some quick commentary:

136 properties currently active on the market

107 properties under contract at this time

61 properties sold in the last 30 days

2.22 is current market inventory

$114.40 was average $/sq ft for homes that sold

69 was average days to sell

$223,834 was average sale price

Commentary – So is it a good time to sell in Laveen?  Sure, I think it is a good time to sell.  Values have increased rapidly at times, and steadily at others since January 0f 2013.  Will values continue to rise?  Well NO ONE really has the crystal ball, and anyone that says different is giving a guess, albeit maybe educated……..but still a guess.

We just saw the inventory go up a slight bit in the last week.  Some of that could be seasonal, as maybe less home went under contract in the Christmas time frame.  Values are steady, as is seen by tracking the average $/sq foot and the average sales prices.  We continue in a seller market, and that means – yes it is a good time to sell.

January 16tn, 2017

Welcome to another weekly update, for the Laveen real estate market and home values.  Lets look at the numbers, and then I’ll add some quick comments:

133 active properties for sale in Laveen Az

109 properties currently under contract

66 properties have successfully closed in the last 30 days

2.01 current monthly inventory

$108.19 was average price per square foot for homes sold

$231,736 was average sale price

66 was average days on market

Commentary – Really, not much change we can talk about.  Yes, slight increase in the inventory, but it does not have any affect.  The market is still a seller market, especially in the sub-$250,000 market.  We have seen 16 closings year to date, so that picked up a bit.  On average, homes that sold are still selling for just a tad bit under their final list price at time of sale.  Lowest sale ended up selling for almost 8% under their ask price……yikes.  It is a good time to sell, and the market does favor sellers a bit.

 

January 9th, 2017

Out of the South Phoenix zip codes, Laveen is really getting the slow start to the year.  Year to date, Laveen has only seen 3 closed homes.  Here are the most current stats, and please be sure to call me if you have any questions:

139 properties currently active for sale

107 properties currently under contract

77 properties sold in the last 30 days

1.8 months current inventory

$107.76 was average for sold homes

$234,822 was average sale price

77 was average days on market

Commentary – Well at this time, really not much change.  Though, as noted at the beginning of article, Laveen is off to a slow start with only 3 homes sold year to date, it has though, still closed the average of homes in last 30 days.  The real estate market also begins the year as it ended, in a seller market.  Inventory is low, and buyers do not have as many options.  Also, while it is competitive for buyers, the average list to sold ratio is 99%, which indicates homes are eventually selling for on average just a little below list price.  So homes, are not going for over market value.  If that were the case, we would be seeing sales over the 100% mark, and that has not been the case for months now.

Take away – if you want to sell price the home right.  Not noted in numbers above, is that 95% of homes sold, were financed.  DO YOU KNOW WHAT NEEDS TO BE HAD WITH A FINANCED HOME?  Yes, an appraisal.  Even if you asked for over market value, and got an offer, you’d still more than likely need an appraisal.

January 2nd, 2017

Well we begin the year, with pretty much a market similar to where we left off.  Lets start with looking at the current numbers for today, to help us begin our Laveen home values journey for 2017:

143 property currently for sale in Laveen

98 properties currently under contract

85 properties sold last 30 days

1.68 is current market inventory

$106.33 was average $/sq foot for homes sold

$230,034 was average sale price for homes sold

65 was average days on market for those homes that sold

Commentary – Well, again we are in a seller market.  We have seen a little drop in the number of active listings on the market, and of course a dip in number of new listing that came to market over the holiday.  Though, If a home owner looks at the number of homes sold over the last 30 days, one would see that HOMES DO SELL during the holidays!!  Many tend to think to wait, because homes don’t sell during the holiday, but that IS NOT the case.  Interest rates are still low, home values have increased but are still affordable, and with the low inventory level the market is still great for both buyers and sellers.  Buyers, because the cost of borrowing and buying is still great.  Sellers, because home values in Laveen have risen, and MANY can now sell for a tidy profit.

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

July 17th, 2017

Hello, and welcome, lets dive right in and look at the latest numbers for South Phoenix home values:

300 properties currently for sale

252 properties for sale

150 properties sold last 30 days

2 months is current inventory level

$121.13 was average $/sq ft for sold homes

$218,582 was average sale price

61 was average days on market

Commentary – Not much change, it is still a seller market, great time to sell.  Values continue pretty stable and consistent for the year.  Time to sell, also fairly stable and consistent at around the 60 day range.

July 10th, 2017

287 properties for sale

255 properties under contract

157 properties sold last 30 days

1.8 months inventory at this point

$122.70 was average $/sq ft for sold homes

$222,396 was average sales price

60 was average days on market…..for sold homes

Commentary – Well, homes are selling, with 1030 properties sold year to date in South Phoenix.  It continues to be a seller market, and as such……….A GREAT TIME TO SELL!  Yes, it continues to be a market that favors sellers, especially in the under $250,00 range in our area.  Once you go above that price, well, it changes a bit.

June 26th, 2017

Find below, the latest and greatest with update on the South Phoenix real estate market:

295 properties for sale

268 properties under contract

161 properties sold last 30 days

1.83 is current inventory of homes

$120.29 was average $/sq ft for homes sold

$221,972 was average sale price

38 was average days on market

Commentary – Nothing really to add, the market continues very steady. Seller market, lower inventory levels, and values are steady with slow appreciation.

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.