January 2

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A look at South Phoenix home values 2018

A look at South Phoenix home values 2018

What to we look at with home values 2018? 

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

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

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

If looking to buy –

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

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

 

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

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

December 17th, 2018

289 properties for sale

148 properties under contract

119 properties sold in last 30 days

2.42 current market inventory

$139.10 was average sale price per square foot

$237,899 was average sale price

45 was average days on market

Comment – Still a seller market in South Phoenix, though inventory is slowing starting to grow.

December 10th, 2018

Below are the most recent numbers for real estate in South Phoenix:

276 properties for sale at this time

155 properties under contract

117 properties sold

2.35 months inventory

$136.57 was average $/sq foot for homes that sold

$252,543 was average sale price

44 was average time to sell

Comments – Still great time to sell, but NOTICE that the inventory is slowly growing.  We are the highest level of inventory for the 2nd time this year, and it appears that inventory will continue to grow.

December 3, 2018

Wow – already at the end of the year, another full year of writing about South Phoenix home values and real estate trends.  Find below the latest information:

277 properties for sale

152 properties under contract

126 sales in the last 30 days

2.19 months inventory

$136.10 was average $/sq ft

$253,478 was average sale price

48 was average time to sell – FOR SOLD HOMES

Comments – Funny how average dollar a square foot for homes is $136 and the average for homes currently on the market is a full $12 more a square foot.   That is also likely why average days on market is 48, while average days on market for homes for sale is 77.  Normally when homes are priced TOO high, they will sit on the market for a longer time, or until home owner reduces to market/below market value.  Values have been holding steady, but notice inventory is growing slowly, and if that trend continues we could be heading for a market Shift.

November 26, 2018

283 Active properties for sale

158 properties under contract

135 properties sold in last 30 days

2.09 months inventory

$133.67 was average $/sq ft

$251,829 was average sale price

49 was time to sell

Great time to sell.

November 20th, 2018

So, a seller market continues.  I do hear a lot of chatter, especially from area residents and potential sellers.  Often the talk is how quickly homes are selling, and how easy it will be to sell.  Hell, some even try to go and sell as for sale by owner.

Some properties are selling yes, but others are not.  There were 195 properties that sold, yet 353 did not!  This is for the South Phoenix zip codes.

If looking to sell, price it right and chances are good it will sell.  Current inventory is 1.81 months inventory.

November 12th, 2018

Below are the numbers for today, which happens to be veterans day (thank you TO ALL who have served our country),

276 homes currently for sale in the South Phoenix real estate market

173 properties under contract

150 sales in last 30 days

1.84 is current months inventory

$139 was average $/sq ft for homes sold

$244,054 was average sale price

43 was time to sell

Comments – Really not much change.  Truly, the last 2 years have been pretty boring to write about.  The market has been steady, with low inventory, which benefits sellers.  While inventory has been growing, there is no real end in sight yet for the current real estate trend of being in a seller market.

November 5th, 2018

Below are the most recent numbers for South Phoenix real estate, home values and market trends:

274 properties for sale

185 properties under contract

143 sales in last 30 days

1.91 months is current inventory/turn over

$139.54 was average $/sq ft for homes sold

$244,996 was average sale price

41 was time needed to sell

Comments – We are still in a seller market, when looking at the South Phoenix real estate market as a whole.  Which does make it a great time to sell.

A word of caution – if considering selling, be sure to conduct a market analysis for homes comparable to your own home.  This information here can give you an idea of the entire market – but your home may be niche specific.  As an example, horse property or luxury condo.  Market changes, and so does demand.

November 1st, 2018

Find below the latest information for South Phoenix:

268 properties for sale

177 properties under contract

148 properties sold in last 30 days

1.81 months inventory

$140.23 was average $/sq ft

38 was average days to sell

$245,456 was average sale price

Comments – Number of listings active, and new to market has dropped off slightly, as also has the number of properties under contract.  As a result, inventory dipped slightly, which is still favorable for sellers.  This is the first dip I’ve seen since inventory has been going up since February.

While inventory remains low, and below 3 months, I think we may be coming onto a shift.  Time will tell, but for now it is a seller market, and values have been holding steady.

October 15th, 2018

In the end really not too much change, see the most recent real estate stats for south Phoenix below:

278 properties for sale

192 properties under contract

127 sales in last 30 days

2.18 months inventory

$138.66 was average $sq ft for homes sold

$246,387 was average sale price

42 was average time to sell

Comments – Not much change.  Inventory is still low and favors sellers.  Values are for the most part – steady.

October 8th, 2018

Below are this weeks South Phoenix real estate market stats and trends:

268 properties for sale

199 properties under contract

122 sales in the last 30 days

2.19 months inventory

$139.45 was average $/sq ft for homes sold

$248,573 was average sale price

45 was average days to sell

Comments – Market continues to be a seller market, though this is the HIGHEST months inventory since January of this year.  Values continue to hold, and we are above homes values of this time last year.

Bottom line – Is it a good time to sell?  Yes, it is a great time to sell.  Homes are still selling pretty quick, and with low levels of inventory there is less competition for the buyers.

October 1st, 2018

Welcome to the new Month!  Below are the most current numbers for South Phoenix real estate:

260 properties for sale

194 properties under contract

127 sales in last 30 days

2.04 months inventory

$138.39 was average sale price/square foot

44 was average days needed to sell

Comments – Really not much change in the market!  Closings have slowed down a bit, and inventory has grown for the last 2 months.  Average time to sell, and values, have been steady.

September 24th 2018

Below are South Phoenix real estate latest numbers:

250 active properties

220 properties under contract

143 sales in last 30 days

1.74 months current inventory

$136.39 was average $/sq ft

$249,718 was average sale price

43 was time needed to sell

Comments – Currently the inventory has been slowing rising.  Will the trend continue?  If it does we could see values begin to stagnate, and who knows – will trade war have an effect.  Time will tell.

Homes prices well are selling, and mostly within a relatively short time – about 43 days.  Price well, sell it, don’t price it well and it will likely sit for a while until price is corrected.

September 17th, 2018

Below are the latest statistics for the South Phoenix real estate market:

230 properties for sale

221 properties under contract

141 sales in South Phoenix in the last 30 days

1.63 months inventory

$137.29 was average dollar a square foot for homes sold

$252,531 was average sale price

42

Comments – While we still are in a seller market, with a lower inventory, it seems like the inventory has grown a bit.  Actually inventory today is the highest it has been since February of 2018.  Will this trend continue?  Time will tell, but should inventory continue to grow we could see the market stagnate a bit.

September 10th, 2018

Find below the latest information for South Phoenix real estate and home values:

223 active properties for sale

215 properties under contract

151 sales in the last month

1.47 months inventory

$132.29 was average $/sq ft for homes sold

$235,643 was average sale price

39 was average time to sell

Comments – Not much beyond what I have been saying for the last year, it is a seller market.  With under 2 months inventory, buyers are having to compete a little more, especially at the lower price ranges.  This is however, the highest inventory we have had, since January 2018, so it has been going up a bit.

Values have been holding steady, with average $/sq foot having been in the low $130’s for couple of months.  It continues to be a good time to sell if considering.  Also to buy, as interest rates are still affordable.

September 5th, 2018

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

226 active properties for sale

199 properties under contract

155 sales last 30 days

1.45 months inventory at this point

$132.47 was average $/sq ft

$237,052 was average sale price

42 was average time to sell

Comments – Some experts, and myself, feel the market is heading for a shift.  The numbers at this point, both above and below, indicate we are still in a seller market.  That has been the case for over 2 years at this point.

We continue under 3 months for single family homes, though, we have seen a drop in average $/sq foot for several weeks now and about the same as we were in June.  Interest rates have been going up, and that means for many the affordability factor may prevent home ownership.

August 27th, 2018

Here are the latest numbers for South Phoenix
231 properties active and for sale

215 properties under contract

158 properties sold in last 30 days

1.4 months inventory

$133.47 was average $/sq ft

$227,922 was the average price

38 was average time to sell

Comments – while all then numbers are still showing a seller market, with under 3 months inventory, and thus a low level of inventory – it feels like a shift is coming.  While many of the homes selling are going on average in 38 days, there are many active homes priced well that are beginning to sit on market.  This is a new trend I’m noticing.  Translation – maybe a shift.

August 20th, 2018

Below is a look at the latest information for South Phoenix home values and market trends:

236 properties for sale

210 properties under contract

162 sales in the last 30 days

1.45 months inventory (more than last month – a smidgen)

$133.27 was average $/sq ft

$231,063 was average sale price

41 was average time to sell

Comments – Really not much change from many of my previous entries.  While it feels like a shift is coming, the numbers show that we continue in a seller market, with low inventory and values which have slowly been appreciating for over a year.

Why do I say a shift may be coming?  Well it boils down to having interest rates going up, home values having gone up for 5 plus years, and this of course affects affordability.  In addition, while un-employment is down, there has been no significant increase in pay for 90% of the population.  In essence, it is not sustainable!  Time will tell, but as of now the market shows stability.

 

August 13th, 2018

Below is the latest information to help determine the South Phoenix real estate market and keep a gauge of over all values for real estate:

225 active properties for sale

221 properties under contract

159 properties sold in last 30 days

1.4 months inventory

$136.70 was average price/sq ft

$234,328 was average sale

39 was average time to sell

Comments – Really no comments to add, pretty much the same as it has been for over a year.  Inventory fluctuates some, but over all it continues low and keeps us in a market that favors sellers.  In other words, if considering selling, YES it is a great time.

August 6th, 2018

Below is a look at current home values for South Phoenix and market trends:

215 properties for sale

209 properties under contract

171 sales in last 30 days

1.2 months inventory

$136.82 was average $/sq ft

$234,161 was average sale price

42 was average time to sell

Comments – We continue with a low inventory of property at this time, which is GREAT for sellers.  Less home for sale, and many selling fast, means sellers have the upper hand.  Call if you’d like to get your home sold!

July 30th, 2018

Find below the latest information for South Phoenix home values and sales, should you have any questions in regards to your specific home value – feel free to call:

208 properties active and for sale

230 properties under contract

136 closed sales in last 30 days

$136.85 was average $/sq ft

$230,976 was average sale price

42 was average time to sell

Comments – Low inventory levels continue, with 1.52 months at this time.  Homes are still selling relatively quickly if priced right, so price it well and it will sell.

July 23rd, 2018

So I missed a couple weeks, went on a quick vacation, and now I’m back to blogging about the South Phoenix real estate market, and of course continue to help both my buyers and sellers in the area.  So what changed since my last entry?  Really not much, South Phoenix is still a seller market, with 1.35 months inventory.    Values have gone up $/sq foot, though for the past 30 days average sale price is down.  Below are the stats:

212 active properties for sale

233 properties under contract

156 sales in last 30 days

1.35 months inventory

$137.25 was average $/sq ft

$228,400 was average sale price, which is lowest since January!

38 was average time  to sell

See above for this months comments.  In short, STILL GREAT Time to sell!

July 2nd, 2018

Find information for this weeks South Phoenix market update below:

209 active properties for sale

236 number of properties under contract

166 homes sold last 30 days

1.25 months inventory

$134.73 was average $/sq ft

$244,932 was average sale price

48 was average time needed to sell

Comments – No real change.  We continue with low inventory, and values are steadily on the rise.  Great time to sell.

June 25th 2018

Below are the recent stats to show South Phoenix market trends:

203 active properties for sale – down from last week

271 properties under contract – up from last week

157 closings last 30 days – slightly lower than last week

1.29 months inventory

$132.33 was average $/sq ft

$246,210 was average sale price

54 was average time to sell

Comments – Over all not much change in the South Phoenix real estate market.  It continues to be a seller market with low level of inventory at this point.  Values are holding steady, and it continues to be a fantastic time to sell.

June 18th, 2018

Below are the most recent numbers, which will continue to show – Seller market:

206 active properties for sale

252 under contract

164 properties sold in last 30 days

1.25 months current inventory

$133.12 was average dollar a square foot for sold homes

$249,578 was average sale price

49 was average time to sell

Comments – Still a market that is very much in favor of the seller, as we continue with low inventory of homes.  If you are currently on the market for sale, and are not getting activing that is likely for 2 reasons:

  1.  Home is over priced
  2. Home is a higher priced home, and they do take longer to sell

Looking to make a move this summer?  Considering a sale?  Call David 602-373-6345, to schedule your no cost no obligation listing consultation.

June 11th, 2018

Find below latest real estate statistics for South Phoenix and some quick commentary follows:

210 active properties

251 properties under contract

168 properties sold last 30 days

1.25 months inventory

$132 was average $/sq ft for properties sold

$235,097 was average sale price

42 was average time to sell

Commentary – Inventory continues to remain low, and thus we continue in a seller market.  Interestingly enough this weeks numbers show an increase of about 20 properties on the active market, and this has bumped our inventory up a smidgen.  Not to worry sellers, it continues to be great time to sell, with well under 3 months inventory, which favors you the seller.

June 4th 2018

Find below the latest information on real estate in South Phoenix:

191 properties active and for sale

251 properties under contract

164 properties sold last 30 days

1.16 months current inventory

$132.38 was average $/sq foot

$231,411 was average sale price

48 was average time to sell

Commentary –  As always, if you are considering selling make sure to look real close at values to similar homes, and price it correctly.  The above shows how homes are selling fast, but really just the ones priced right.  Currently active days on market is higher than average sale, and it is because many are priced above their true value.

May 29th 2018

Here is this weeks information:

186 properties for sale on the market at this time

258 properties under contract

162 sales in last 30 days

1.14 months inventory

$133.10 was average $/sq ft for sales

$234,177 was average sale price

47 was average time to sell

Comments –

We have 36% LESS homes for sale than at this time a year ago

11% increase in average $/sq foot from this time last year.  THE POINT – it is a great time to sell.  Inventory is low and values have now risen for 5 plus years.  One constant is CHANGE – and this too may change.

May 21st 2018

197 properties for sale

246 properties under contract

179 properties sold in last 30 days

1.1 months inventory

$132.90 was average sale price/square foot

48 was average days to sell

$236,938 was average sale price

Comments – The inventory level went up in the last week just a smidgen.  We have seen a couple more homes on market for the area, though nothing big.  Number of closings went down a bit as well, and both of those account for reason we see increase of inventory.  This is likely just a mid month thing, and we will likely see inventory go down again as we come to month end.

Translation – great time to sell.

May 14th, 2018

193 active homes for sale – little uptick

251 properties under contract

195 properties sold last 30 days

.98 months inventory

$131.74 was average $/sq ft

$232,125 was average sale price

51 was average time to sell

Comments – Great TIME TO SELL.  I would just recommend, try to price it right, and get the most possible.  Don’t use a large 3rd party investor (unless it make sense and your willing to PAY A HUGE amount for the service).

May 7th, 2018

Below are the latest South Phoenix real estate statistics:

188 active properties for sale

259 properties under contract

186 properties sold last 30 days

1.01 months inventory

$130.39 was average $/sq ft

$232,143 was average sale price

52 was average time needed to sell

Comments – Still a seller market, a low amount of inventory, and thus …….. a great time to sell.

April 30th 2018

Find below a look at the most recent real estate activity in South Phoenix.

191 properties currently for sale

271 properties under contract

190 properties sold in last 30 days

1.00 months of current inventory

$130.08 was average $/sq ft

$224,865 was average sale price

50 was average days to sell for homes sold

Comments – Well a couple of key take away’s from the above information.  First is the seller market continues, and this is great for home owners looking to sell.  Second is values have continued to rise slowly, which is also good for sellers.

April 16, 2018

Below is a look at the latest trends in South Phoenix:

203 properties for sale

285 properties under contract

169 properties sold in last 30 days

1.2 months inventory

$133.60 was average $/sq ft

$227,118 was average sale price

57 was average time to sell

Comments – Homes are selling pretty quick if priced correctly.  The seller market continues, and that makes it a great time to sell.

April 9th, 2018

Find below the latest information for the South Phoenix real estate market:

210 active properties for sale

281 properties under contract

155 properties sold last 30 days

1.35 months inventory

$132.43 was average $/sq ft

$223,477 was average sale price

55 was average time to sell

Comments – Some things to notice as we are rolling into the spring and summer,  the level of inventory and reasons for the inventory level.  First there is a good bit less active homes for sale than we have had in several months.  Also, the number of closings is increasing a bit as we head into the busier months.  Average $/sq foot sold has also increased in recent sales, and likely very much to do the low level of inventory and the demand to buy at this time.  Keeping in mind to that interest rates are increasing, buyers may be making a push to buy before they are priced out of market…….maybe?

The short of it is, the south Phoenix market is still in a seller market.  Inventory levels are low, and because of that, it continues to be a great time to sell.

 

March 26, 2018

Below is the latest information, and please excuse the absence for a month – was transferring my website to a new host.

246 properties available for sale

95 properties under contract

137 properties sold in last 30 days

1.79 months inventory

$130.98 was average $/sq ft

$224,376 was average sale price

60 was average days on market

Comments – The South Phoenix area is still going through a seller market, which means it is still a great time to sell.  With a seller market inventory continues to be low, and buyers have less choices.

 

February 26th, 2018

256 active properties currently for sale in South Phoenix zip codes 85041,85042,85040

257 properties under contract

141 properties sold in last 30 days

1.815 is current inventory

$129.54 was average sale price per square foot

$236,513 was average sale price

71 was average time to sell

Commentary – Interesting how the average dollar a square foot in ALL of Phoenix is $167.35, yet that of South Phoenix is $129.54.  This may not be a big surprise to many, but the South Phoenix and Laveen area, are great places to get MORE value when buying property.

Not much change in market, truth is no change.  Values continue to increase slowly but steadily.  We continue is a seller market, and with low inventory.

Great time to sell!

February 20th, 2018

Find below the latest information for home values and market trends in South Phoenix real estate:

251 properties currently for sale

245 homes under contract

130 properties sold last 30 days

1.93 months inventory

$128.05 was average $/sq ft

$227,826 was average sale price

72 was average days to sell

Commentary – We still continue in a seller market, which has been the case for over a year.  Actually, if you look back over my articles, you’ll also notice we have seen appreciation for over 4 years now.  In all, the stats and numbers show that things continue the same.  I do not foresee a change at this time, a seller market will continue with slow appreciation…..for the time being.

February 12th, 2018

Below find the latest information for South Phoenix home values, and market trends:

250 active properties for sale

232 properties currently under contract

130 properties have sold in last 30 days

1.92 current market inventory

$231,689 was average sale price for homes

$125.71 was average $/sq ft

70 was average time to sell

Commentary – Looking back to the start of 2017, we have not had any market other than a seller market.  Values have increased slowly and steadily in that time as well.  The lower inventory level has also made it a competitive market for buyers at the lower price range.

Buyers – I would recommend, buy and buy soon.  Interest rates have started going up, and this can affect your monthly payments and your purchase power.

Sellers – Great time to sell, values have been on the increase 4 years plus now.  Low inventory also plays in your favor.

January 30th, 2018

Below are the current information and statistics for South Phoenix real estate:

254 active properties for sale

217 properties under contract

98 properties sold in last 30 days

2.5 months of current inventory

$129.69 was average price/sq ft

$227,769 was the average price for homes sold

67 was average day on market

Comments – Seller market continues, we have low levels of inventory.  This continues to be a great time for home owners that are in need of selling.  BUYERS – time is great to buy.  I did get an email this morning from one of my preferred lenders which indicated that interest rates are going up.  So if considering buying, get off the fence interest rates will soon likely affect your purchase power and monthly payments.

January 22nd, 2018

Below are the latest numbers for the South Phoenix area

269 properties active on the market for sale

203 properties under contract

131 sales in the last 30 days

2.05 months current inventory

$125.66 was the average $/sq ft for homes sold

$231,586 was the average sale price

57 was average time to sell

Commentary – While we do some minor fluctuation in the numbers, all pretty much continues as stable as I’ve seen for the last year.  Values are slowly appreciating, and inventory remains low which means a “seller market”.

 

January 16th, 2018

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

268 properties for sale

195 properties under contract

135 properties sold in last 30 days

1.98 months of inventory

58 days average time to sell

$227,631 was average sale price

$125 was average $/sq ft

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

 

January 8th, 2018

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

260 active properties for sale

187 properties under contract

156 properties sold in last 30 days

1.66 months current inventory

$129.26 was average $/sq ft

$224,444 was average sale price

50 was average time to sell

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

January 2nd, 2018  – Happy New Year

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

270 properties available for sale

189 properties under contract

156 properties sold in last 30 days

1.73 is current inventory level

$129.11 was average dollar a square foot for sold properties

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

55 was average days to sell

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

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

Good time to sell?  Yes it is.


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