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.

September 18, 2017

Here are this weeks numbers:

143 properties active and for sale in Laveen Az

108 properties under contract

68 properties sold in last 30 days

2.1 months inventory

$112.33 was average $/sq ft for homes sold

$222,761 was average price of sale

54 was average time to sell

Commentary – Well, looking at the stats above, things continue as they have been for over 12 months, which is to say a seller market.  Yet as mentioned last week, I’m noticing a trend of a LOT more price reductions than I’ve seen in the past.  For now, things continue stable and values appear to be holding nicely.  Still a very  good time to sell.

September 11, 2017

Here are this weeks numbers:

132 properties actively for sale

116 properties under contract

61 properties sold last 30 days

$112.64 was average $/sq ft

$229,680 was average sale price

2.16 current inventory

60 days was average time to sell

Commentary – Not much change.  One thing I am starting to notice though, many more price changes coming on a weekly basis, compared to years past.  Inventory continues stable, values do as well.  It continues to be a good time to sell, with low inventory.  Also, news coming in today shows that interest rates may be kept low for remainder of year.

September 5th, 2017

Find below the latest numbers:

145 properties for sale

106 properties under contract

65 sales in last 30 days

2.23 months inventory

$112.11 was average $/sq ft

$234,709 was average sale price

61 was average time to sell

Comments – Looks like we are starting to see a little bit of the seasonal slow down, after what in our area is the busy time.. summer.  We have seen sales about 90+ in the summer months, and now we are slowing down to 60’s, and our inventory  has grown a bit.  Still a seller market, so still good time to sell.

Values are holding steady, and that meaning they have appreciated over the last 12 months.  Overall, good time to sell, and with interest rates still at record lows, also good time to buy.

August 28, 2017

Here is the latest update with Laveen real estate home values, and market trends:

151 properties on the market for sale

101 properties under contract

73 sold homes in last 30 days

$111.15 was average $/sq ft for sold homes

$234,603 was average sale price

54 was average time to sell

Comments – As you can see, if you review previous posts, the market continues pretty steady.  Home values have been pretty stable, with slight appreciation over the last 12 months.  So in essence, great time to sell, because the seller market continues for now.  Also, good time to buy, interest rates remain low.  The trend has been the same for over a year………..will it continue.  Time will tell, but for now there is no change on horizon.

August 21st, 2017

By the numbers, this week:

145 active homes for sale

98 homes under contract

67 homes sold last 30 days

2.16 current inventory

$111.27 was average $/sq ft for sales

$235,265 was average sale price

52 was average time  to sell

Commentary – Really not much change, small increase in months inventory, decrease in active homes, decrease in homes under contract too.  It continues to be a seller market, values holding steady.  Translation – still great time to sell.

August 14th, 2017

Here are this weeks numbers:

140 properties for sale

105 properties under contract

77 homes sold last 30 days

1.81 month inventory

$108.84 was average $/sq ft for sold homes

$237,561 was average sale price

52 was average time to sell

Commentary – Still in a seller market, values showing slow but steady appreciation to date.  That is 4 years of appreciation at this time, will it continue?  Signs show that it will, but when the change comes, it will likely come fast.

August 7th, 2017

Let us review the latest numbers.  You can always look further down, to see the changes, and review comments:

150 properties currently for sale

99 properties under contract

81 properties sold in last 30 days

1.85 current inventory level

$108.38 was average $/sq ft

$238,584 was average sale price

52 was the average time for homes that did sell

Commentary – See below, really all is the same,…….no change.  It continues to be a seller market, with 1.85 months of inventory, which is still a low level of inventory.  Translation, it is still a great time to sell!

July 31st 2017

Find below the latest information:

153 properties for sale

100 properties under contract

89 properties sold in last 30 days

1.71 is current inventory

$107.31 was the average $/sq foot for homes sold

$234,780 was average sale price

47 was average days on market

Commentary – Not much change, even though I took a small vacation this past week.  The seller market continues, with low inventory, currently as indicated above at 1.71 months.  Home values, holding steady, with some appreciation from last year.

 

July 24th, 2017

Not much change, same ol’ same ol’.  Steady, and pretty stable.  Good time to sell, good time to buy.  Here are this weeks #s:

156 properties active and for sale

97 properties under contract

93 sold homes in last 30 days

1.67 current inventory

$234,178 was average sale price

$106.49 was average $/sq foot for homes sold

49 was average time to sell

Commentary – Really not much change.  We have been in a seller market, and it continues on.  Home values are holding steady.  Sure one can see some up and down, but over all it is steady, and we see a slight appreciation year over year.  At this point, we have seen 4 years of appreciation, which started in January 2013.  Will this continue?  Time will tell, but for now, good time to sell and good time to buy because interest rates remain for now at historic lows.

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.

Laveen Home Values

A weekly article looking at Laveen home 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.

 

December 26, 2016

Last entry for the year!

150 active homes for sale

121 homes under contract

79 homes sold last 30 days

1.89 months current inventory

$227,820 was average sale price

$107.71 was average $/sq ft

63 was average days on market

Commentary –  We will end the year with being in a seller market.  Home values have increased in Laveen over the 2016 calendar year.  The year has seen a total of 949 home sales, and we may get to near 1000 by the end of year.

2017 will likely see a continued seller market, with values holding steady.  Should interest rates change and move up, we could see a little slow down or change in the current low inventory.

December 19th, 2016

Below is current market statistics:

162 properties currently for sale in Laveen Az

128 properties currently under contract

78 properties sold in last 30 days

2.07 is current inventory level

$107.46 is average $/sq foot for homes sold

$218,884 was average sale price

67 was average days on market for home sold

Commentary – Well, the year has been a seller market.  It appears we will end the year the same way.  Also, while the fed did increase the interest rates, it will likely not affect mortgage rates on purchase until march 0f 2017 at earliest.  So, this will likely still keep buyers buying, and hopefully taking advantage of these historically low interest rates.

Values still are holding steady in the Laveen real estate market.  Will that be the case in the year to come?  Time will tell, but I would guess that values are likely to remain stable, and we likely will also remain in a seller market through out the end of summer 2017.  Especially in the lower price ranges.

December 11th, 2016

163 active listings – no change

130 properties under contract

75 properties sold in last 30 days

2.17 Months current inventory – sellers Market

$107.38 was average $/sq foot for homes sold

$216,884 was average sale price

71 was average time to sell

Commentary – Well, homes are still selling, and many within a reasonable amount of time.  As seen above, on average homes are selling in about 71 days, but this is taking the 85339 zip code into consideration as a whole.  Some homes may take little less, some longer.  Truth is my average is about 40 days start to finish, so again it depends.  Laveen is still in a seller market, with low inventory.   Home values have risen a bit over the last year, and are finishing strong.  We have not, and in my opinion will not see huge double digit gains like we did in the pre-2007 years.  Yet, Laveen real estate looks stable, and values as such are holding as well.

December 5th 2016

163 homes currently for sale

133 homes currently under contract

79 homes sold last 30 days

2.06 months current inventory

$108.43 was average $/sq ft

$209,018 was average sale price

70 was average time to sell

897 sales year to date

Commentary – Not much change folks.  Homes are still selling, and those priced well, much quicker than others.

November 28th, 2016

160 properties active and for sale in Laveen

143 properties currently under contract

72 homes sold last 30 days

2.2 months current inventory

$108.86 average $/sq foot for homes sold

$218,444 was average home sale price

64 was average days to sell

871 – number of homes sold to date in Laveen Az

Commentary – Not much change folks.  Homes are still selling, but really just ones that are priced at market value.  Interestingly the average list price a square foot is $115.63, which is almost $7 more a square foot than the average for solds.  Will those sell?  Chances are they will not, as the average list to sale ratio is .99%, which indicates homes are not on average getting their ask price.  So if over priced, chances are they will have to lower, and then still, possibly not get asking price.

The disclosure on this though, is that the stats are based on the entire zip code.  If thinking of selling, use information based on your home, not the entire zip.  This will give you a better idea of value, time to sell …………etc.

November 21st, 2016

171 active properties – down a bit

146 properties under contract

66 sold in last 30 days

$109.09 was average $/sq ft for homes sold

$221,566 was the average sale price

59 was average days on market

2.59 is current market inventory

Commentary – Well, things do appear to be slowing a bit.  We have a few less active listings (though some went under contract), our number of sales per 30 days has gone down (seasonal), so our inventory has grown a bit as far as turn over.  It is still a seller market, and good time to sell.  Do homes sell during holidays?  Yessir, they do.  Buyers still must buy at times, and the time now is good.  Interest rates are still at historic lows, and while inventory is not huge, there is still choices.

 

November 14th, 2016

181 properties for sale at this time

138 properties under contract

76 properties sold last 30 days

2.38 current market inventory

$109.47 was average $/sq ft

$225,882 was average sale price

837 properties sold year to date

Commentary – Sales have slowed a bit, but still a seller market with low inventory.

 

November 7, 2016

182 properties for sale

138 properties under contract

81 homes sold last 30 days

2.24 months of inventory

$109.58 was average $/sq ft for homes sold

$229,785 was average sale price for area

56 was average days on market

821 homes sold to date

Commentary – Not much change.  We are starting to see a little slow down of the market, mostly due to seasonal changes I would imagine.  Beyond that, active property, those under contract, sales and values are holding steady.

 

October 31st, 2016

Happy halloween Laveen Az!!  Here are this weeks numbers:

168 properties currently for sale

141 properties under contract

87 homes sold last 30 days

1.93 is current market inventory

$106.16 was average $/sq ft for homes sold

$227,559 was average sale price

55 was average days on market

807 homes sold to date

Commentary – Again, not much to report.  Values continue stable, market over all is stable.  We continue with under 3 months inventory and in a seller market.  Values have gone up a bit throughout the year, but at a slow and somewhat steady rate.  I’ve read some journals that predict interest rates may go up, and if so……………could mean market may slow up bit.  If that should happen, all else being the same, inventory would grow and it may tip toward a buyer market.  Time will tell.

October 24th 2016

Here are the weekly numbers:

166 homes on the market

128 homes under contract

97 homes sold last 30 days

1.71 current months inventory

$106.29 was average dollar $/sq ft

$227,875 was average sale price

64 was average days on market

Commentary – Not really much to add, things continue as they have been.  It is a seller market, especially at the lower price ranges.

 

October 17th, 2016

175 properties currently for sale

131 homes under contract

94 properties sold in last 30 days

1.86 months of current inventory

$107.62 was average dollar/sq ft for homes sold

$228,395 was average sale price

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

Commentary – Again, not much change for the past week, or even for the last several months.  It is a seller market, and values have gone up over the last year.

 

October 10th, 2016

169 properties available and on the market

132 properties under contract

88 properties sold last 30 days

1.92 current months inventory

$105.82 is $/sq ft average for homes sold

$225,640 was average sale price

751 homes sold year to date in Laveen

Commentary – Not much change folks.  Seller market with homes selling within a short period of time for lower price ranges.

October 3rd, 2016

171 active homes for sale

127 homes under contract

76 sold last 30 days

2.25 months inventory

$104.18 was average $/sq ft for homes sold

$228,719 was average sale price

We are starting to go into the holidays, and as such may see a slight change in the market.  That being said, sellers always will ask if the holidays is a good time to sell?  In my mind, yes, here in Laveen any time can be a good time to sell, as we don’t have seasonal limitations to showing homes.  We see homes sell during halloween, thanksgiving and Christmas all the time.  Key question is though, do you need to sell.  If you do, then put it on market, and there are buyers.

September 26, 2016

166 active homes for sale

141 homes under contract

82 homes sold last 30 days

2.02 months inventory

$106.59 average $/sq ft for homes sold

$218,632 was average sale price

While I’m no lender, I can also share that interest rates are also holding steady, so over all this is a great time to buy as well.  Is it the best time to buy?  No, that really could have been about early 2012, but if you did not buy then, you missed the lowest prices.  Yet………….Home prices are affordable, and interest rates are still at historic lows.  It is still a seller market in Laveen, though this week we see an increase in active listings, as well as decrease in homes under contract.  What could happen should that trend continue?  Well, if we go over 3 months, we could see buyers having more choices, and this would then be a buyer market.  Some price ranges at this time, and horse property, are experiencing that already.

 

September 19th, 2016

157 Properties currently on market for sale

152 properties currently under contract

84 homes sold in last 30 days

72 was average time to sell homes

1.86 is current market inventory – seller market

$106.25 was average $/sq ft for homes sold

$221,378 was average sale price

Again, I’ve looked back on my excel statistics sheet, and really the market in Laveen has been real steady. Yes, we have seen some appreciation, but it has not been some insane increase in values over a short time.  Housing continues to be affordable, interest rates are still very low (historically), and there are options for homes to purchase.  While inventory is low, mostly in lower price ranges, the opportunity for home ownership is great.

September 12, 2016

Here are the current numbers:

162  properties currently the market

159  properties currently under contract

86  properties sold last 30 days

1.88  months current inventory

$107.52  was average $/sq ft for homes sold

$217,170 was the average sale price

63 was average days on market

Not much change, not much to report.  Things are stable, and continue pretty much the same they have been going for some time this year.

September 6, 2016

Hope all had a great labor day weekend.  I did, went and spent some time with family and friends floating down the river, super fun.  Here are the numbers for Laveen real estate:

149 properties for sale – this is down if you notice from last weeks post

166 properties under contract

98 properties closed successfully last 30 days

1.52 is current months inventory

$106.82 was average dollar a square foot for homes sold

60 was average days on market – this is up too

$215,129 was average sale price

What is interesting to me, is that we are about 30 units (give or take) below last years active properties at this time.  We are also, about 30 units above last years closings for about the same time period.  Actually, going on how many were selling at this time, we are selling 20 to 30 more units on a monthly basis.  If this were not the case, our inventory would indeed be larger, and we may very well be in a buyer market……….but that is not the case.  Homes are selling relatively quickly, and we have lower levels of inventory, and our market is a seller market.  So, in short it continues to be a great time to sell.  Values still holding steady, with some appreciation.

August 29th, 2016

167 properties for sale

161 properties under contract

97 sold last 30 days

1.72 months of inventory

$105.04 average dollar a square foot for homes that sold

$213,103 was average sale price

45 was average days to sell

Not much change in Laveen Arizona real estate.  This really has been the case for the year so far, so I would call it stable.  We have seen the average dollar a square foot only vary a bit, since the start of the year.  It has appreciated, but nothing significant, or at least nothing that will make a major difference to the average sale price now vs. the start of year.  Will this trend continue?  No one has a crystal ball, but I would think that things will continue as they are for the current time, and likely the year will end the way it started.

August 22nd, 2016

172 homes for sale

153 properties under contract

96 properties sold last 30 days

$103.91 was average dollar a square foot for homes sold

$220,133 was average sale price

1.79 is current absorption rate

45 was average days on market for homes that sold

Again, really not much change in the Laveen real estate market.  Values are holding steady, and inventory levels still remain in a seller market.

August 15th, 2016

177 homes on the market for sale – same as last week

150 properties under contract – same as last week

106 properties closed last 30 days – wow 3 for 3 same

$101.93 was the average $/sq foot

$216,044 was average sale price

44 was the time on market for homes sold

Not much to say folks, the market is stable at this point.

 

August 8th, 2016

177 properties for sale in Laveen today

150 properties under contract

106 properties sold last 30 days

$99.94 was average $/sq foot

$215,331 was average sale price

50 was average days on market

Today marks the start of school for the Laveen area, and based on the numbers it is still a great time to sell.  It is a seller market.

 

August 1, 2016

Stable market in Laveen, for the last several posts.  Lets look at what the real estate activity is today:

181 properties for sale in Laveen

152 properties under contract

95 properties sold last 30 days

1.9 months inventory in Laveen – little higher than South Phoenix

$100.18 was average $/sq ft for sold homes

$216,126 was average sale price

60 was average days on market

Not too much change really, the market is very stable.  Many of the purchase are being done with financing, and as such have appraisals, so they must be priced right or they will NOT get financing.  Many are going FHA and as many know, those fha appraisals do carry a shelf life, so price it right the first time and market it wisely and aggresively.

July 25th 2016

Can you so, no change.  Yes folks, my fellow Laveen residents, real estate is currently very steady.  Really, it is kind of boring to describe, but I’m sure it is way better for most than what we experienced 2008/2013, right?  Here are the numbers this week:

167 active properties for sale

161 properties under contract

99 homes sold last 30 days

1.68 months inventory – no change!

$100.26 was average for homes sold $/sq ft

$216,241 was average sale price

63 was average days on market for sold homes

There it is, homes are indeed still selling.  I would say, we are still in a sellers market, which is great for sellers.  Yet, unlike other seller markets, homes are NOT selling for above market value, and often we are seeing many homes sell a little under list price. (2% to 5% if you look at last 12 months average for mls).  Homes under $200,000 are selling faster, those over, well not as fast.

 

July 18th, 2016

Here goes the latest and greatest for the week in numbers.

172 active homes for sale

159 homes under contract

102 properties sold last 30 days

1.68 is current months of inventory

$100.82 was average $/sq ft for homes sold

$210,793 was average sale price

There it is.  Homes are indeed selling if priced at market value, and most of those usually under contract within a short time.  Those over priced, well they sit on the market until price comes down.  We do still have a lower inventory, and that is one of reasons homes are selling faster.

July 5th , 2016

Happy 4th, hope all had a great holiday.

180 active homes for sale

157 homes under contract

84 homes sold last 30 days

2.14 current months of inventory

65 was average days to sell

$100.75 was average price/square foot

$216,731 was average sales price for homes last 30 days

It is still a good time to sell, especially for the homes under $200,000.  Those are the ones that are selling the quickest at this time.  Those above $300,000 are indeed taking a little more time, actually for Laveen, those over that price are experiencing a buyers market.  This is one of the reasons I find using a Laveen realtor is key to helping you sell a home, knowledge.  See it is not only knowing homes value, but also what is going on in the market, and trends for the market.  Knowledge is power as they say, and power of knowledge in this game can help you keep more of your money.

June 27th 2016

179 properties for sale

162 homes under contract

98 homes sold last 30 days

$102.06 was average sale price/square foot

$211,244 was average sale price

57 was average days on market for homes sold

It is always interesting as a realtor who specializes in the South Phoenix/Laveen area, to see so many listings priced incorrectly.  This can be clearly seen when one looks at the average list price per square foot, which is currently $115.33.  That is about $13 a square foot difference from the average sold price, which when you look at average square footage size in area is at least $15,000 to $20,000 overpriced on some properties.  With most homes being sold being purchased with financing, homes that are over priced will not sell nor will they appraise.  This must really be kept in mind when looking to sell.  If not, you could waste precious time, effort and cost, with the end being a home which did not get the value needed in the appraisal.

June 20th, 2016

177 homes actively on market – this is up a bit

161 homes under contract

102 homes sold in last 30 days

1.73 months of inventory/absorption

$216,276 was average sale price

$101.91 was the average $/sq ft for homes sold

Summer is here, and if you step out side you will feel it.  We are in the summer sales months as well, when the market heats up a bit (by that I mean more sales) as you can see we sold 102 in last 30 days, which is a good bit for little ol’Laveen.  Values are holding steady, and those homes priced under $200,000 are selling fast.  That said, I have seen a couple of listings that are over priced, well…………even if under $200,000 it won’t sell if over priced.  On average homes in Laveen going back a year have sold on average 2-5% under original list price.  Those that have had price drops, still sold for less than their last list price.  So know the market, know your competition, know your homes value in laveen.

June 13th, 2016

158 active homes for sale

173 homes under contract

98 homes sold last 30 days

1.61 months inventory

$101.12 Average dollar a square foot for homes sold

76 average days on market for homes sold

As you can see above, homes are indeed selling.  Laveen saw 98 homes sold within the last 30 days, and all within a relatively short period of time.  Looks like at least homes sold in last 30 days are also on average selling for 1% under list price, so many home owners are getting pretty close to ask price.

Jump to June 7th, 2016

Back from a short vacation, so that is the reason I missed a couple of log entries here.  So lets jump right in and see what has been going on with Laveen home values:

165 active homes for sale – no real change

162 homes currently under contract

100 homes closed last 30 days

1.65 months inventory

$101.67 average dollar a square foot – homes sold

$211,823 was average sales price

74 was average days to sell

Not really much change in the Laveen real estate home values over the last couple weeks.  Inventory/turnover is still favoring sellers at this point, especially in the lower price points for the area.  Now I do say lower price point, what I really mean is homes under $200,000 are selling pretty darn fast, followed by homes under $250,000.  Once you go over a certain price point the inventory does change, so if your looking to sell………………………make sure you study and learn the market so you can be sure to use a appropriate marketing strategy.

May 23rd, 2016

163 homes for sale

163 under contract

93 closed in last 30 days

1.75 months of inventory

$100.43 was average $/sq ft

$209,042 was average sale price

Things continue steady.  Nothing major appears to be happening, it continues as business as usual.  Good time to sell, as we are in a seller market.

 

May 16th 2016

167 active properties for sale

167 properties under contract too!

77 closed homes in last 30 days

2.16 absorption rate/market inventory

$101.16 average dollar a square foot

$203,637 was the average sale price

Inventory level went up a slight bit, but the market still favors sellers.  Mostly at the lower price ranges, once you go over $250,000 that starts to change.  If you have specific questions, please don’t hesitate  call so I can answer.

May 9th, 2016

165 properties for sale

170 properties under contract

77 closed properties sold in last 30 days

$99.85 was average $/sq ft for those sales

$204,535 was average sales price

69 was average sales price

Sellers market.

 

May 2nd, 2016

160 properties for sale

161 properties under contract

76 properties sold last 30 days

2.1 months inventory/absorption

$98.09 was average $/sq fot

$203,928 was average sale price

64 was average days on market

Folks, the market currently still favors sellers.  We still have a pretty steady supply of active homes, as well as pretty steady number of closings.  You will notice a quicker turn time on home sales at the lower price ranges, generally for Laveen under $200,000 sells pretty fast.  Homes over $200,000 can take a little longer to sell.  Also, homes must really be priced well, if not they will tend to just sit.

April 18th, 2016

152 Active homes for sale

159 homes under contract

89 homes sold in last 30 days

1.7 months inventory – wow, they are moving

$101..42 was average dollar a square foot for homes sold

$210,918 was the average sale price

67 was average days on market

Homes are indeed selling.  Big difference I see is in the different price ranges.  Homes under 200K are selling the fastest………..if priced right.  Then those under $250,000.  Homes over $250,000 are really like the custom or high end for our area.  Those homes actually have about a 4.47 month inventory, which favors buyers!!  I keep saying know your market, know your competition and know your home value.

April 11, 2016

Sorry folks, missed a week there some how.

151 active laveen properties for sale

158 homes under contract

79 homes sold last 30 days

1.9 months inventory

$102.81 is average $/sq ft for homes sold

$206,547 was average sale price

59 was average days on market for homes sold

I’ve seen some reports that indicate a continual rise in home values.  Well, I would say it is some what true, as home values have been going up slightly, but look at average sale price March 28 vs todays’ which is less.  Does that show values going up?  Thing is, with statistics it really only can give an over all idea, and to me the local market is stable.  We have seen a year over year increase in values, and this is good.  Interest rates are still low, so home buyers can get into a home for good prices and have a good interest rate.  The low inventory, shown with 1.9 months, is some thing that currently favors sellers.  With low inventory, buyers have less choice and must compete with other buyers for the fewer homes.  Yet, take this with a degree of caution, this is based on the ENTIRE laveen zip code.  If you were to look closer, you may find that it does NOT benefit the seller but the buyer.  So in essence while this information is good and gives a good over all idea of the market, do also look at things more in depth when either buying or selling.

March 28, 2016

156 active properties for sale

164 properties currently under contract

69 homes sold in Laveen last 30 days

2.26 months of absorption/inventory at this time

$102.04 was average $/sq foot for homes sold

$211,390 was average sale price

55 was average days on market

I am, a broken record.  Really their is not much new at all to report.  The market has been very steady for the last several months, with only a little variation in the inventory and turn over category.  Laveen is seeing very stable prices and a pretty healthy real estate environment.

March 14, 2016

158 active properties

157 properties under contract

65 properties sold in last 30 days

$99.71 was the average price per square foot for homes sold

$213,351 was average sales price

73 was the average days on market

While I did not include it above, I’ll do so now, the average list price per square foot is $110.62.  While it does not seem like much, consider a home that is 2500 square feet and is priced $10 over the current market value, that is about $25,000 over.  Now, of course this is averages, and one really needs to look closely at a home that is similar to subject to really help determine value.  Yet, for looking at a zip code like Laveen, one can see the pattern.  Also active days on market is 86, which is over the average days on market for homes that sold.  Again, points to the fact that homes that are over priced are not selling.  At the very least, they are not selling until the drop to a price that is in line with market value.

March 7 2016

150 active homes for sale

139 homes under contract

68 homes sold last 30 days

2.2 months absorption/market inventory

$99,19 was average $/sq ft for homes sold

$218,772 was average sale price

Homes as usual, are selling. Homes that are selling are priced at market value, and those not………..well don’t sell.  Notice how homes that sold, did so on average within 68 days.  Yet the average days on market for active homes for sale is 118 days.  Not sure why, but for some reason some think that pricing a home over market will just mean people will haggle you down.  Not so much here in Phoenix, here if over priced, chances are good people are not even looking at home.

 

March 1, 2016

141 active properties for sale

142 properties under contract

51 homes sold in month of February

$99.38 was average price/square foot for home sold

$214,273 was the average sale price

2.76 is the absorption rate/months inventory

In some price ranges it is more a seller market, but over all right at this moment Laveen is in a seller market.  This in theory does benefit the home seller, as there are fewer active properties which are competing directly with home owners home.  With less competition, home owner has a little stronger bargaining position. Not shown above, but offered now is the ms figure of 96%.  This is the average percentage BELOW original list price homes on selling for, on average.  Those homes who have price reductions, also are selling below, and those homes are still averaging about 2% below last listed price when it sells.  Take away?  Well, make sure to do a thorough review of values and market trends to price it right.  Homes are NOT selling for more than they are worth.  Especially since almost 98% of homes are being paid with financing, in other words home WILL be appraised.

February 22, 2016

150 active properties for sale

151 properties under contract

45 homes sold last 30 days

3.33 months inventory or absorption rate

$194,965 was average sale price

$95.50 was the average $/sq ft

So, what is happening?  Well it appears we do have a few more homes on market vs. a couple weeks ago.  Also, many that are coming on market and are priced right are going under contract.  Notice we have less active listings, AND more under contract.  We have picked up a bit and we are looking to start seeing an increase in sales in the coming month.  Values are stable, and have been for some time.

February 15, 2016

158 Homes for sale currently in laveen

142 homes under contract

42 sold in last 30 days

$95 was average dollar a square foot for homes sold

$188,336 was average sale price

65 was average days on market

3.7 is the absorption rate or months inventory

Market still favoring the buyer just a bit in the Laveen area at this time.  Yet, if you really look close, it also will depend on the price range as well.  If considering selling your home, make sure to request a valuation showing recent sales similar to your home.

February 8th, 2016

163 homes for sale

128 homes under contract

41 homes sold last 30 days

3.97 months of absorption/inventory

$99.82 was average $/sq ft for homes sold

76 was average days on market for homes sold

Good time to sell in Laveen?  Sure, we have homes selling every  month.  If inventory does continue to grow though, we may see that buyers will have more choices, and as such sellers will be competing for the buyers.  How can a seller be sure to get the buyer?  Well, it comes down to good marketing, heavy internet exposure, social media marketing, and very important make sure home looking good.

February 1st, 2016

Number of active listings down a bit, number of closings down a bit, absorption rate goes up a bit.  That is pretty much the summary.  We came off a really hot holiday, when we had summer like closings, and now it appears to have normalized a bit.  See generally during holiday season, Laveen see’s about 42 to 55 closings a month, not the high 90+ we saw in December.  Still not sure why the spike, could have been many short sales closing, or folks buying because of the Fed rate hike.  Over all though, values are still holding strong, homes are selling.

155 active homes for sale

119 homes under contract

43 homes sold last 30 days

$100.23 was average $/sq ft for homes sold

74 was average days on market

3.6 is current absorption rate, or market inventory.

 

January 25th, 2016

159 active property – just a small increase

122 properties under contract – slight increase

51 properties sold last 30 days – much less than before right?

$210,586 was average sale price last 30 days

$104.55 was average sale price a square foot

3.11 is the absorption rate/months inventory

63 was average days on market for homes sold

Absorption/months inventory has gone up a bit compared to last month.  This really, in my opinion, should have been up anyway but we saw a unusual high number of closings in December.  That had an effect the inventory levels, and now it appears we are going back to a little more normal number of closings.  Why the spike in number of sales, who can ever say, but it may have been the fear of rising interest rates.  Maybe a rush to close before the new year.

Bottom line, is it a good time to sell?  Sure, homes are selling, and there are good qualified buyers in the area.  Interest rates are still low, and buyers will be wanting to take full advantage of that fact.

January 19th, 2016

157 active properties for sale

118 properties under contract

63 homes sold last 30 days

$102.32 was average $/square foot for homes sold

$213,780 was average sale price

70 was average days on market for homes sold

2.49 absorption

Absorption has gone up a bit for single family homes, should this continue, buyers will likely start reaping the benefits.  Interestingly, number of active listings has gone down, though many more have gone under contract.  Market is moving along, and homes are indeed selling.  Values hold pretty steady, as do interest rates.  Still a great time to buy a home in Laveen, and also to sell, as the market does favor sellers a bit.

January 11th, 2016

Today’s update for Laveen home values.

171 properties for sale – no change vs. last week

104 homes currently under contract

81 homes sold last 30 days

2.11 absorption rate, slight increase

$98.33 was average sale price/square foot

$209,887 was the average sale price

81 was average days to sell for homes that did sell

Summary – Well not much change, thought we did see slight dip in number of closings.  December was VERY high sales, un usually so.  While valley saw a good size increase in homes on market, that was not the case with Laveen so far in 2016.  Values continue steady.  Good time to sell?  Sure.  Buyers are buying, and interest rates are good, so great time to buy.

January 4th 2016

Welcome to the new year.  Well, for us that live here in the South valley and Laveen, the real estate market finished strong, and so far appears to be starting so as well.  The Laveen real estate market saw a uncharacteristacally high number of closings to end the year.  In 2013 we had only 69, in 2014 we had 59 and this year we saw a jump up to 86 closings.  To clarify, this is the number of closings we saw at the time of writing my first article for the year, and looking back over 30 days of sales.  Based on what I have seen and reviewed, the Laveen area is really moving compared to other areas of the valley.  Good time to sell?  Sure, it is as good as any.  The real question is always, do you need or want to sell.  If yes, then look to make sure the market will get you what is needed or expected from the sale.

171 active properties for sale in Laveen

101 homes currently under contract

86 homes sold last 30 days

1.98 is the absorption rate, or months inventory

$96.89 is the average sale price/square foot for those home sold last 30 days

$209,556 was the average sale price

74 days on market was average to sell.

 

December 28th, 2015

Number of active listings has not really changed much, but what has is the number of closings.  We saw an increase in the last week of closings, with a total of 79 properties closed in the Laveen area.  This does skew the numbers a bit, because it is high for this time of year.  Looking into where these higher number of closings came from one discovers that there had been a large quantity of homes under contract, and that several of those finally closed.  As an example, my neighbor was under contract for over 2 months, and they finally closed.  Also, I happened to have recently closed 2 short sales in area which had been under contract for some time.  It is these sales that are likely the reason for increased sales.

174 Properties currently for sale in Laveen Az

124 Properties currently under contract

79 properties sold last 30 days

$214,114 was the average sale price

71 was average days on market for homes sold

2.2 is the absorption rate/market inventory. (this again is kinda skewed because of higher closings with long escrows)

Have any questions about buying or selling in Laveen?  Call me David at 602.373.6345

December 21st, 2015

Not really much to report as we start winding down the year.  We are steady, as steady can be.

176 properties currently for sale

132 properties currently under contract

67 homes sold last 30 days

2.62 months of inventory/absorption rate

$210,235 was the average sale price

Some things to note.  First, we did see several homes that had been under contract close, which increased number of closing to almost 70 in the last 30 days, which is higher than several weeks past.  This is likely due to some short sales and other distress sales, finally closing.  The turnover/inventory does show under 3 months which would suggest a seller market, but I would caution and just let you know that really is not likely the case.  We are likely a little over 3 months and will show that in the weeks coming.

So, is this a good time to sell.  Sure, homes are still selling.  Also, interest rates are still good even though the fed increased rates.  This will not have a direct affect on loan interest rates, but it likely will in the long run.  Good time to sell, and yes, good time to buy.

December 15th, 2015

Since August really, the Laveen home values per square foot have been very steady, within 2 dollars up or down.  Looks like we will finish out the year much like we started which is to say pretty stable.  Homes are indeed still selling, but homes do need to be marketed correctly.  How can this been seen in the numbers?  I don’t generally share all information, because really it would be major overkill on an on going article like this, but currently the active average days on market is 90 days.  The average for sold properties is 60 days.  Homes that are priced well are selling, those that are not, well those stay on the market longer.  Sellers who are willing to see, and listen to what the market is telling them will then have price drops to get to market value.  If they do, chances are home may sell, if they don’t, it will just sit.  As an example, one home 642 days on market.

174 properties currently for sale in Laveen Az

145 homes currently under contract

58 homes sold in Laveen last 30 days

$96.15 was average $/sq ft

60 was average days on market

 

December 7th, 2015

Well, some good news Laveen area residents.  Chances are your home did appreciate a little this year.  While I know that some of the experts out there will give you an exact figure, that is really hard to do and is based on a quick time stamp look at something.  It really changes day to day, week to week.  We have seen an increase in Laveen give or take of about $8 a square foot.  I would not run off and base value on that finding however, as homes really are better given a value by comparing to similar recent closings.  Here are this weeks numbers:

173 homes currently for sale

146 homes currently under contract

54 homes sold in last 30 days in Laveen Az

3.2 Months of absorption/market inventory

$97.34 average $/sq ft for homes sold last 30 days

$204,390 was the average sale price

55 was average days on market for those homes that are selling

Over all we are seeing that 2015 has been a pretty stable year.  Values have increased, though not in a huge or dramatic way.  I would describe our appreciation as a slow, steady and likely sustainable increase in home values.  Time will tell if that stability continues.  We are expecting increase in interest ways, and along with some stricter guidelines being followed on the loan side of the industry, could we see a slow down?  Time will tell.

 

November 30th, 2015

What is going on now in laveen real estate?  Well lets just look at the numbers and see what they say:

169 current properties for sale

169 single family homes for sale in Laveen Az

156 Homes in Laveen currently under contract

55 homes sold in Laveen last 30 days

3.07 months of absorption/inventory

$97.46 average $/sq ft. for homes sold last 30 days

49 was average days on market

Homes in laveen az are selling.  There are many that are indeed priced well, and as you can see with average sale days on market, those homes are selling fast.  We are still seeing homes sell for a little under list price on average, about 2%.

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.

Selling your South Phoenix Laveen home – Dealing with Multiple Offers

By David Baker

How to Handle Multiple Offer Situations

When selling your South Phoenix or Laveen Az home, having more than one offer to consider is a great position to be in. However, there are some rules of thumb for handling the sale of your property in a multiple-offer situation.

The most important is to evaluate every offer for its details – not just the price. Study all conditions and investigate thoroughly the strength of each offer. Just because the buyer has agreed to pay a certain amount for your home doesn’t necessarily mean he or she is capable of bringing about a successful closing.

Evaluate their pre-approval letter as well as the lender itself. You should be particularly suspicious of all-cash offers. What’s too good to be true, often is.

In evaluating offers, your listing agent will prove an invaluable support. He or she will do the legwork required to consider each offer and check out the buyers and buyer agents. Do ask your agent for input and opinions. However, in the final analysis of the sale of your South Phoenix or Laveen home, you are the decision-maker.

Negotiations are particularly difficult in multiple offer situations – not so much for the seller, but for the buyers. Hopefully, you and your listing agent will treat offers with respect. The seller pretty much dictates the way offers are presented, and making buyers jump through hoops – especially if their offer comes in well below the others – won’t benefit anyone. Let them know there are several better offers, so if they can’t increase theirs, they can exit gracefully.

For other tips on selling your South Phoenix or Laveen home visit my previous blog on tips for selling.

Phoenix Real Estate Values

By David Baker

Phoenix Real Estate Values – October 16, 2013

Here we are October 2013, real estate values and the market have begun to shift.  For many home buyers and sellers in the Phoenix Real Estate market, you are going to start seeing these changes.  Buyers, this change will be a welcome change, as we now are in what we call a buyer’s market.  What does this mean?

Phoenix real estate is now in a buyer’s market.  My definition, less than 25% of the homes currently on the market get absorbed on a monthly basis.  Others may define a buyer’s market as inventory of over 3 month’s time, which of course we are at; currently we stand at 3.64 months inventory.  From my tracking of the market, this appears to be growing and who knows where it will stop.  I’ve noticed growth of inventory for a while, but more since July.  The Phoenix MLS has been adding a minimum of 500 new listings to the already existing inventory every 7 days.  Since this April, the number of active properties on the MLS has increased by 7000 units up to 22,000.  Good news for buyers as the days of competing with multiple offers has all but disappeared (depending on price range).  You may start seeing more options as well.

Sellers.  With the shift in the market, your strategy for selling will need to be well thought out.  Be sure to consider what is going on in the Real Estate market, as well as considering your home value and list price.

 

So is it a good time to sell your home?  Values are stable currently, and that is after seeing a pretty quick and significant increase in values this year to date alone.  To be sure please request a private and confidential Fair Market Evaluation. (It’s free).

Visit http://www.MyPhxHomeValue.com to request your free fair market evaluation.

 

See below, YUP, over 22,000 listing and counting!!!

Active on MLS

Screen Shot of currently active properties on Arizona MLS

Laveen Az Values

Laveen Az Values – Values of homes in Laveen Az for September 2013

Laveen home values have been on the rise! 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 September 9, 2013 the average home price in Laveen is about $174,734. This is about $86 a square foot. What is amazing is the huge increase in values since the start of the year, about 20% in the Laveen area.  Inventory has been growing over the last several months as well.  Laveen homes on the market have increased from about 90 active homes in January, to 145 as of today.  This could spell good news for buyers as inventory is growing.  On the down side for buyers, interest rates have gone up a bit as well as prices.  This translates into less purchase power for many than just six months ago.

Looking to Sell?  Want to get value of your Laveen Home?

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.  It is best to have a professional research similar homes to help determine value.  Visit this site to request your FREE home evalution: http://phoenixlaveenhomes.com/home-value-evaluation/

 

Market Value Appraisals are not the Only way to Determine Market Value

Market Value

Market Value

 

 

Determining Market Value by Appraisal

Market value of a home can be determined by an  appraisal.  When buying a financed home the lender will require an appraisal to help determine market value.  The home appraisal is generally ordered by the buyers lender.  The appraiser is looking for the 3 most similar properties that have sold.  These comparable homes should be the closest to square footage, lot size, bedroom count, and other amenities to the subject property.  In a city or suburb the appraiser would prefer to see comparable homes that fall within a 1 mile radius.  If possible the appraiser would actually prefer homes to be in the same subdivision.  Appraiser will also look for sales having occurred in the last 60 to 90 days as these are the best properties to judge current market value of a home.  The appraiser will determine market value based on these comparable homes.  The method appraisers use to determine current market value of a home is called the sales comparison approach.

When buying and using financing the buyers lender will require the appraisal – and there is no way around that.  A seller can also choose to have an appraisal done to help determine the market value of their home.  The down side for the seller is the out of pocket expense for the appraisers service.

Having a Realtor help determine Market Value

A realtor can also help determine market value of your home.  The best way a realtor can go about helping you determine current market value of your home is similar to that done by an appraiser.  First the realtor will find comparable homes that have sold within your subdivision or area that closely resemble your home.  Much like an appraiser a realtor looking to find your market value will want to stay within certain proximity of home, within a certain percentage above or below square footage of home, and home that shares similar amenities.  A real estate agent can also help you determine what the current competition is in your particular area.  In other words if you were to be going to market today, what homes would be in direct competition with your home  for the current buyers in the market.  Some agents call this way of determining market value, the CMA – community market analysis.  Real estate agents like myself, are of course doing these analysis to help sellers determine their market value, but also to prepare to take on these homes for sale.

Biggest benefit of going through a realtor to determine market value of your home is that they generally will not charge for doing a CMA.

 

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.

Laveen AZ Home Values – April 2013

Laveen Az home values continue to steadily rise. As a home buyer or home seller condidering the area of Laveen Az, it is important to know what is going on in the real estate market. When selling your home you want maximize your sales price and make sure not to leave money on the table. Same goes with a buyer, generally looking for bargains in and around their search area to make sure the get a good deal on their home purchase.

Here are a couple of things to give both the home buyer and home seller in Laveen Az an idea of where the market stands today. We are currently in a sellers market, which means there is a lower inventory of homes and they tend to sell quicker. Home generally are selling within days if they are priced at market value. The Laveen area, that is zip code 85339 currently only has about a 1.05 month inventory of homes. Since January of 2013 we have also seen some fluctuation of home values, but for the most part the zip code has seen values average between $140,000 and $163,000. keep in mind that this is lumping all homes together, so if you are looking to sell your home be sure to get comparables specific to your home – not the entire zip.

To request a home valuation visit me at http://www.MyPhxHomeValue.com and input your information.

Thanks,