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 https://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.