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:
- Homes for sale
- Homes under contract
- 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.
December 30th, 2019
Here we go, the last and final entry for the year 2019. Here are the numbers that tell us what is going on in the South Phoenix real estate market:
172 properties for sale
173 properties under contract
132 properties sold last 30 days
1.3 months current inventory
$147.19 was average $/sq ft for sold homes
$265,017 was average sale price
47 was average time to sell
Comments – Well, as we look back over the 2019 year, it can best be described as a seller market. We experienced, and continue to experience at this time, a low level of inventory. Over all, values have increased, but the appreciation rate is down significantly compared to previous years (single digits). This however, in my opinion is a great thing, as double digit appreciation over a long term is NOT sustainable.
While in late 2018, early 2019 I fully expected a market slowdown, with possible depreciation to occur……….that did not happen. There were at the time red flags, which showed that it was possible. At this time, there are no factors in the market which to me indicate a change may be coming, the market continues and likely will continue as it had in 2019. I do expect the rate of appreciation to continue to slow a bit, to under 6%.
December 16th, 2019
178 properties currently for sale
197 properties under contract
131 properties sold in last 30 days
1.35 months inventory
$150.92 was average/sq ft
$261,458 was average sale price
43 was average time to sell
Comments – No change in the market, it continues to be a seller market. Great time to sell.
December 9th, 2019
185 properties for sale
197 properties under contract
138 properties sold last 30 days
1.34 months inventory
$153.75 was average $/sq ft
$264,178 was average sale price
37 was average days on market
Comment – The South Phoenix real estate market continues to benefit the sellers. We continue with a low inventory, and homes are selling relatively quickly.
December 2nd, 2019
179 properties for sale
192 properties under contract
135 properties closed in last 30 days
1.32 is current inventory
$152.88 was average $/sq ft
$258,846 was average sale price
37 was time to sell
comments – As we go into the holiday season (Christmas is only 3 weeks away), we have noticed a little slowdown. This is typical, as we always see a bit of a slow down during the holiday. YET – homes are selling, as seen above, with 135 sales in last 30 days in South Phoenix. It remains a seller market, and great time to sell. YES – homes DO sell during the holiday, so if you need to sell – this is as good a time as any. May even be better, as only serious buyers will be looking.
November 25th, 2019
176 properties currently for sale
209 properties under contract
152 properties under contract
1.15 months inventory
152 was average $/sq ft
37 was average time to sell
$264,830 was average sale price
Comments – Wow, what a great time to sell. With so few homes on the market, and the values being the highest in years, NOW is the time to sell. On the buy side, the interest rates still make a very compelling argument to buy and take advantage of the low rate.
November 18th, 2019
1927 homes have sold in South Phoenix year to date, which is 70 more than this time last year. Below are the most recent numbers which show us the over all South Phoenix real estate market:
186 properties for sale
209 properties under contract
136 sales in last 30 days
1.36 months inventory
$154.10 was average $/sq ft for sold homes
35 was average days on market
Comments – No real changes. We are seeing the seller market continue, which continues to make it a great time to sell! On the other hand, interest rates remain SO low, that it is also a good time to buy.
November 12th, 2019
Below is the most recent information:
185 properties for sale
220 properties under contract
123 properties sold in last 30 days
1.5 months inventory
$154.01 was average $/sq ft
$264,901 was average sale price
36 was average days on market
Comments – No change, it continues to be a seller market. Great time to sell. Inventory has gone up a short bit.
November 3, 2019
Below are the newest numbers for the real estate market in South Phoenix:
175 current homes for sale in South Phoenix
205 properties under contract
139 properties sold last 30 days
1.25 is current inventory
$150.07 was average $/sq ft
$264,327 was average sale price
37 was average days on market
Comments – The seller market continues, and values holding steady.
October 28th, 2019
Below is the latest information year to date for the South Phoenix real estate market:
193 properties currently for sale
206 properties under contract
125 sales in last 30 days
1.54 months inventory – little increase
$150.51 was average $/sq ft for sold homes
$263,099 was the average sale price
41 was average days to sell
Comments – No real change to the current real estate market in South Phoenix. We continue to see a seller market with low level of inventory, though we did see a small increase to the inventory. No real indicators that any change is imminent at this time. Great time to sell, and also to buy because of interest rates.
October 21st, 2019
182 properties for sale in South Phoenix
205 properties under contract
171 properties sold last 30 days
1.30 current inventory
$150.69 was average $/sq ft
$270,755 was average sale price
41 was average time to sell
Comments – No change, the seller market continues as does of course the low inventory of homes currently for sale in South Phoenix. With low interest rates, it continues to be a great time for buyers to pick up a home. Some buyers may have issues buying, mostly due to the low level of inventory.
October 14th, 2019
192 properties active and for sale
202 properties under contract
146 properties sold in last 30 days
1.31 months current inventory
$148.02 was average $/sq ft
$267,038 was the average sale price
39 was average days on market
Comment – Seller market continues, although we are seeing a SLIGHT increase in current inventory. At this time, I don’t see any changes in the real estate market.
October 7th 2019
182 properties for sale
208 properties under contract
171 properties closed in last 30 days
1.2 months current inventory
150.21 was average sold $/sq ft
$262,780 was average sale price
38 was average days to sell
Comments – No change. Seller market continues, great time to sell.
September 30th, 2019
190 properties for sale
209 properties under contract
157 sales last 30 days
1.21 months inventory
$146.68
$255,421 was average sale price
34 days was average time to sell
Comments – The seller market continues, it is a great time to sell. Also for buyers, interest rates continue low, so GREAT time to buy as well.
September 23rd, 2019
181 properties for sale in South Phoenix
205 properties under contract
171 properties sold in last 30 days
1.05 Months inventory
$145.65 was average $/sq ft
$247,644 was average sale price
35 days was average days to sell
Comments – This is a seller market, and continues to be a great time to sell. No real change in values or appreciation, though appreciation rate does seem to be slowing.
September 16th, 2019
149 properties for sale
224 properties under contract
170 properties sold in last 30 days
.87 months inventory
$147.51 was average $/sq ft
$256,381 was average sale price
39 was average time to sell
Comments – As I’ve been saying for months now, it continues to be a seller market. While there seems to be volatility in the worlds, in politics……etc, it has yet to show itself in real estate. At this time, great time to sell, and also great time to buy!! Values are at highest they’ve been since pre-2008, so great for sellers. Also, interest rates are still low, so great for buyers.
September 9th, 2019
150 properties for sale
227 properties under contract
162 sales happened in August
$147.12 was average $/sq ft
$260,590 was average sale price
38 was average time to sell
Comments – It continues to be a good time to sell. Seller market, low inventory, makes for the ideal time to sell if you are considering it.
September 3rd, 2019
Below are the most recent numbers to help us view the South Phoenix real estate trends:
156 active homes for sale
220 homes under contract
159 sales in last 30 days
.98 months inventory
$147.14 was average $/sq ft
$259,710 was average sale price
41 was time needed to sell
Comments – Not much has changed, we do continue to see a seller market. I will however stress, that low inventory and homes selling quickly does NOT directly translate to multiple offers and getting over ask price. On average homes that sold in South Phoenix did so at 1% under list price. This has been a trend in South Phoenix for some time. Homes are selling, if priced right. With most home being financed, they will get an appraisal!
August 26th, 2019
Below are the new numbers for tracking real estate trends in South Phoenix:
164 properties active and for sale
224 properties under contract
179 sales in the last 30 days
.91 months inventory
$146.57 was average $/sq ft for sold properties
$264,924 was average sale price
49 was average time to sell
Comments – No real change in the market we continue in a seller market with low inventory levels. Interest rates continue low, making it great to still buy. Values on the other hand are still appreciating, but the speed of appreciation has decreased. We are under double digits for the first time in years.
August 19th, 2019
Below are the most recent numbers to show South Phoenix real estate market trends:
166 properties active and for sale
240 properties under contract
186 properties sold in last 30 days
.89 months current inventory
$145.21 was average $/sq ft for sold homes
$264,946 was average sale price
46 was average days on market for sold homes
Comments – While average dollar a square foot varies/fluctuates a bit depending on sales, values still appear to be holding steady with small appreciation. Also, we continue in a seller market, with .89 months inventory, which is the EXACT type of market you’d want if you were considering selling.
August 12th, 2019
171 properties for sale
236 properties under contract
190 sold in last 30 days
.9 months inventory
$144.18 was the average $/sq ft for homes sold
$255,878 was average sale price
49 was average days on market
Comments – Great time to sell, as we continue with a seller market. Home values are not rising as fast as recent years, but values are still appreciating.
August 5, 2019
Below are the most recent stats, those that if you pay attention to, help you understand the local market. If you have questions, please dont hesitate to call DAVID – your local South Phoenix and Laveen realtor 602-373-6345
180 properties for sale
236 properties under contract
200 sales in last 30 days
.9 months inventory
$145 a square foot was average sale price/pr sq ft
$252,564 was average sale price
48 was average time to sell
Comments – The seller market continues in the South Phoenix and Laveen area, with .9 months inventory at this time. Competition is pretty fierce in the lower price ranges, with buyers having few options and needed to compete for the few available homes. This makes it a great time and environment to sell – if you’ve been considering.
July 29th, 2019
Below are the most recent stats for our South Phoenix area:
179 properties for sale
245 single family homes under contract
181 sales in the last 30 days
.98 months inventory
$145.11 was average price per/sq ft
$252,824 was average sale price
50 was average days to sell
Comments – Well inventory went up just a smidge, and values are holding pretty steady. Overall, we have seen value appreciation since this time last year, but only of about 6%. While it is still appreciation, the rate of appreciation does seem to be slowing, which in my opinion is healthy. Double digit appreciation in NICE, but in reality it is not sustainable.
July 22nd 2019
Below are this weeks real estate numbers for the South Phoenix area:
186 properties for sale
248 properties under contract
194 properties sold in South Phoenix over the last 30 days
.95 is current inventory
$144.93 was average dolar/sq ft for sold homes
$243,885 was average sale price
49 was average days to sell
Comments – Well, with only .95 months inventory, we see that the seller market continues, as we have low inventory. The short of this all, is that it continues to be a great time to sell. Also, it is a good time to buy, as loan interest rates remain historically low.
July 15th, 2019
183 properties for sale
259 properties under contract
193 sales in last 30 days
.94 months inventory
$141.51 was average $/sq ft for sold homes
$243,529 was average sale price
50 was average time to sell
Comments- Not really much change, we continue with low inventory and values are holding. With interest rates still low, it is a great time to buy. Yet, we do have low inventory, which tilts the scale in favor of the seller getting the better deal. Conclusion, it is a great time to sell.
July 8th, 2019
173 active properties for sale in South Phoenix
269 properties currently under contract
183 sales in the South Phoenix zip codes in last 30 days
$142.14 was average $/sq ft
$242,393 was average sale price
50 was time needed to sell – on average
Comments – We have had a drop in active listing of about 98 (listings) from the start of the year. We have also had a big increase in the number of homes that have/or are currently under contract versus the start of the year, as well as an increase in monthly closings. This all leads us to a seller market, which has been the case for over 2 years. We have a low inventory level, and homes are selling.
I would say though, that it is VERY important to price home at market value. While average days on market for sold is 50 days, the active days on market 76. That is on average! The reason active homes are on longer on average is because they are overpriced. Homes that are priced at market value are selling – those over priced are sitting on the market.
July 1st, 2019
186 active properties for sale
274 properties under contract
190 properties sold last 30 days
.97 months inventory
$141.77 average $/sq ft
$242,452 was the average sale price
48 was average time to sell
Comments – Well, with the .97 months inventory we continue to be in a seller market, one that continues with a really low inventory. Days on market, and even average sale price have fluctuated a little based on these weekly blog posts, but overall I would describe the market as stable with slow appreciation and homes selling relatively quickly.
Great time to sell if you are considering.
June 18th, 2019
This weeks home value update and market stats for the South Phoenix real estate market:
213 properties for sale
378 properties under contract
194 properties sold in last 30 days
1.09 months current inventory
$146.46 was average $/sq ft
$250,941 was average sale price
51 was average time to sell
Comments – The seller market continues in the south Phoenix real estate market. While days to sell and even average $/sq foot has varied a bit over the last several months, I’d describe it as a stable market with slow appreciation. Great time to sell.
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.