A look at South Phoenix home values 2019

A look at South Phoenix home values 2019

What to we look at with home values 2019? 

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

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

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

If looking to buy –

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

If looking to sell…Simple – Just request a home valuation and consultation here.

 

The look at home values for South Phoenix 2019 start here/below.

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

June 10th, 2019

205 properties currently for sale

281 properties under contract

185 properties sold last 30 days

1.10 months inventory

$146.67 was average $/sq ft

$251,275 was average sale price

47 was average time to sell

Comments – Things have not been changing much, other that we are in our higher transaction period “summer”.  Every summer we do see an increase in number of transactions, and that is clear at this time.  Inventory remains low, and continues to make it a great time to sell.

June 3rd, 2019

Missed a week as I was on vacation, but here we go again.

217 properties active and for sale

297 properties under contract

197 sales in last 30 days

1.10 months inventory

$146.81 was average $/sq ft for homes sold

$245,059 was average sale price

45 was time to sell

Comments – One can see some fluctuation from week to week, but over all we are in a stable market which favors sellers due to low inventory.  Values are holding, with slow appreciation.  We also see increase in number of sales, which is common in the spring to summer months as families move when kids are out of school.  Great time to sell.

May 20th, 2019

235 properties currently for sale in South Phoenix

302 properties under contract

166 sales in last 30 days

1.41 months inventory

$144.86 was average $/sq ft

$247,411 was average sale price

45 was average time to sell

Comments – I just don’t have the creativity to tell you the market has not changes in over 2 years.  Inventory remains low, and homes priced well are selling fast.  Those over priced sit on the market.

Values are holding steady, I would characterize it as stable values with slow appreciation.  While market does show appreciation, it seems to be slowing.

May 14th, 2019

225 homes for sale

290 properties under contract

174 closings in last 30 days

1.29 Current level of inventory

$144.53 was average dollar a square foot for sold homes

$245,818 was average sale price for sold homes

51 was average time to sell

Comments – Inventory remains pretty darn low, and we have gone under 1.5 months at this time.  For buyers, the lower price ranges are extremely competitive, and likely will have come (or will come) across multiple offer situations.  For sellers, this means it is a great time to sell.

May 6th, 2019

267 homes currently for sale

248 properties under contract

175 sales in last 30 days

$142.87 was average $ sq ft

$248,251 was average sale price

56 was average time to sell

Comments – We continue with a low level of inventory of homes in the South Phoenix real estate market.  This low inventory creates our seller market, which as this point has been the case for over 2 years.  Values on the other hand, are holding steady with slow appreciation at this point.  I say slow appreciation because in last 8 years we have seen double digit increases, but that appears to have slowed to about 6% at this time.

April 29th, 2019

278 homes active and for sale

261 properties under contract

161 properties sold last 30 days

1.72 months inventory

$141.50 was average $/sq ft

$244,104 was average sale price

56 was time needed to sell

Comments – Not much if anything to add, I’m running out of words to describe what has not changed in over 2 years.  Inventory remains low, values holding steady, though appreciation is slowing.  Great time to sell.

April 22nd, 2019

269 properties for sale

273 properties under contract

174 properties sold in last 30 days

1.54 months inventory

$138.35 was average $/sq ft for sold homes

$237,085 was average sale price

57 was average days on market

Comments – Seller market continues, and stats show that the trend seems to be continuing for now.  One thing I will sell, that it appears that appreciation rate of homes could be slowing!

April 15th, 2019

269 properties currently for sale in South Phoenix

238 properties under contract

175 properties sold in last 30 days

1.53 current months inventory

$139.69 was average $/sq ft

$233,834 was average sale price

56 was average time to sell

Comments – Really there has not been much fluctuation in the market, not in the last 2 years plus.  Low inventory, homes selling for the most part relatively quick and values are holding steady for now.  On another note, this weekend saw interest rates go up, and summer generally see’s higher rates too………so we will see what comes.  Will market slow down due to rates?  Time will tell, though spring and summer tend to be the months when most sales occur.

April 8th, 2019

267 homes for sale

227 properties under contract

168 properties sold in last 30 days

1.58 months inventory

$139.54 was average $/sq ft

$230,948 was average sale price

60 was average time needed to sell

Comments – Not much change, all remains the same.

April 1, 2019

Happy April fools day!!  Below are current numbers for our Laveen/South Phoenix real estate market – no fooling

272 properties for sale

210 properties under contract

162 properties sold in last 30 days

1.67 months current inventory

$139 was average $/sq ft

61 was time needed to sell

Comments – Over all really no change in the market.  Inventory levels remain low, so buyers are still having to compete often to get a home, and homes are selling relatively quickly.  Values, those appear to be a little more stable.  Year over year we still see appreciation but it has slowed down a bit.

March 26, 2019

272 properties for sale

228 properties under contract

149 sales in last 30 days

1.82 months inventory

$138.40 was average $/sq ft for homes sold

$223,168 was average sale price

61 was time needed to sell

Comments – Not much change from last 2 years of writting, the seller market continues.  I will say though, appreciation is slowing a bit though, which is healthy.  We have seen double digit appreciation for several years, and my thought – it is not sustainable, it must slow a bit.

March 18th, 2019

278 properties for sale in South Phoenix

222 properties under contract

126 properties sold in last 30 days

$140.31 was the average $/sq foot

$230,190 was the average sale price

65 was the average time to sell

Comments – South Phoenix real estate is going strong.  We continue with a low level of inventory, about 2.2 months at this time.  Homes selling for the most part, within 2 months.  Key to selling today, price it right, and market aggressively.

March 11th, 2019

Below are the latest real estate numbers for South Phoenix:

283 active homes for sale

212 homes under contract

122 properties sold in last 30 days

2.31 months current inventory

$137.71 was average $/sq ft

$234,177 was average sale price

63 was average time to sell

Comments – Not much change from before review.  Sellers market + low inventory + great interest rates = still good time to buy Or sell TOO!.

Nationally, we have seen a slow down of sales, as well as a slow down of appreciation in home values at the end of 2018.  Nationally the appreciation has a drop from 5.7% to 5.0 % from 2017 to end of 2018.  Will this trend continue…….we shall see.

For now, numbers support a stable sellers market with only a feeling that a shift is coming, nothing yet indicated in my numbers.

March 4th, 2019

276 homes for sale

207 homes under contract

113 sales in South Phoenix in last 30 days

2.44 current months inventory

$135.62 was average $/sq ft for homes sold

$243,431 was average sale price

63 was time needed to sell

Comments – Seller market continues, and there is no REAL indication that we are seeing a change at the local level.  At the national level we are seeing a slow down of number of units selling, and this is also true locally.  Annual appreciation on the national level has slowed, and inventory national has grown a bit too.  Should trend continue we could see market flat line a bit.

February 25th, 2019

280 properties currently for sale in South Phoenix

201 properties under contract

108 properties sold in last 30 days

2.59 months inventory

$136.73 was average $/sq ft

$248,367 was average sale price

Comments – No real indication of a major shift if reviewing the South Phoenix real estate numbers.  Inventory has been stable, as has home values.  Though sales are down a bit from last month, and same time last year.  This is likely due to higher home values as well as higher interest rates.  Great time to sell – low inventory = less competition.  Also, great time to buy, as interest rates (though higher than a year ago) are still at historic lows!

February 19th, 2019

Sorry for the day, delay, but I was celebrating a day off and birthday with family.  Here are the current real estate numbers for South Phoenix real estate:

291 properties for sale

180 properties under contract

94 sales in the last 30 days

3.09 months current inventory

$133.38 was average $/sq foot for homes sold

$247,454 was average sale price

Comments – Looking over a lot of my past posts, and just stats in general, one could pretty much define the last 2 years as a seller market with low inventory.  Not much has changed.  It remains a great time to sell, especially since values have appreciated each year since 2013 and due to the low inventory (competition).

February 11th, 2019

303 properties currently for sale – several new to market!

164 properties under contract

102 properties sold in last 30 days

2.97 months inventory

$252,406 was average sale price

53 was average time to sell

Comments – Not really too much change in the South Phoenix real estate market.  While we did see a good size increase in number of active listings, the turnover rate still remains in a seller market.  So great time to sell.  Values have also been holding pretty steady.

FYI – inventory is larger this year (active homes for sale) vs what it was at this time last year.  Couple of main reasons why:

First we have about 50 more active properties for sale

Second – we say almost 30 less properties sold vs this time last year.

What could be causing that slowdown?  No way to know, but higher home values, higher interest rates could be having an affect on those who are considering buying.

February 4th, 2019

279 properties for sale

154 properties under contract

112 sales in last 30 days

2.49 months inventory

$143.53 was average $/sq ft

$249,097 was average sale price

55 was average time to sell

Comments – Not much change.  Things are stable, and continue with a seller market.

January 28th, 2019

Find below most recent South Phoenix real estate trends:

276 homes for sale

155 properties under contract

102 sales in last 30 days

2.70 months current inventory

$144.87 was average $/sq ft for sold homes

$246,626 was average sale price

55 was average time to sell

Comments – The south Phoenix real estate market continues to do well, and continues in a seller market.  This is great for all those folks considering selling, and actually makes it a great time and great market condition to be in to sell!  While inventory is up a bit, and home average sent up, it is still hovering around areas it has been within the last year.  Stable is the best word to describe the market – for now.

January 14th, 2019

275 properties for sale at this time

133 was number of properties under contract

111 properties sold in last 30 days

2.47 current inventory

$137.61 was average sale price/sq foot

$231,749 was average sale price

51 was average days for sold

Comments – Great time to sell.  What else can one say, inventory is such that it favors sellers.  We have seen values hold steady, and they have increased since 2013.  Will this continue through 2019?  We will see.

January 7th, 2019

271 properties currently for sale in South Phoenix

46 properties under contract

101 properties sold in last 30 days

2.68 months inventory

$136.74 was average $/sq ft

$229,022 was average sale price

50 was average days on market

Comments – We currently are at the highest inventory in South Phoenix in over 12 months.  Of course, we tend to see a slow down during the holiday season, though we still saw 101 sales in the last 30 days.  Values holding steady at the dollar per square foot, but we did see the average sale price went down a bit.  We will keep track and see how values hold in the near future.  For now, values steady and great time to sell.