MARKET UPDATE – AUGUST 2020

Valley Real Estate Sales Rebound in June

While total unit sales are still down year-over-year (YOY) in June when compared with 2019, they have rebounded from their drastic reduction in May this year.  If you remember. total unit sales in the Phoenix Metro area were down by 34% fro May 2019!  June 2020 saw only a 3% increase in unit sales YOY.  

The low amount of inventory, combined with current low interest rates, continue to drive home prices higher and higher in the Phoenix Metro area.  The East Valley saw the least price growth that month with a nearly 13% price increase YOY.

Are you thinking about upsizing, downsizing, or getting the exact amending you need ?  Whatever the reason, because home prices are so high, NOW is the perfect time to consider selling your home.  We can assist you!  We help our clients with everything from staging and marketing homes for sale – to reommending contractors and lenders to negotiating TOP DOLLAR for our clients’ homes. 

Lets start today!  Contact us for a FREE COMPARATIVE MARKET ANAYLSIS.  We will let you know what your home is with in your local real estate market. 

Allison Fox

Allison Fox

MARKET UPDATE – JULY 2020

In May 2020, the median home price in the East Valley increased by 8% year-over-year (YOY).  West Valley home prices increased by 9% YOY for the same period.  Due to the high demand and low inventory of single-family homes and condominiums, the housing market in these areas remains a STRONG SELLERS MARKET.  

Unfortunately for Scottsdale, the vacation Mecca took a small hit in May with a 2% decrease YOY in home prices. 

Overall, total unit sales in the Phoenix Metropolitan Area were down by 34% from May 2019.  A prime consideration for the drop in sales YOY is public concern about COVID-19.  

We will continue to keep you updated on how current health and economic concerns are impacting home sales in Arizona. 

Are you interested in selling your home? Do you want to know a little bit more about the selling process in Arizona?   Contact us today for a FREE SELLER GUIDEBOOK.

Allison Fox

Allison Fox

MARKET UPDATE – JANUARY 2020

Home values in Phoenix continue to escalate!  Home prices increased  an average of over 8.5% between November 2018 and November 2019 with Southeast Valley homes experiencing over a 10% increase in value in that same time frame.  This trend is not slowing. If you’re interested  in taking advantage of current home price trends by selling your property or investing in an income property, contact us today!

Tony Dalpiaz

Tony Dalpiaz