August numbers are in and is definitely one of the slowest months of the year. It’s typical to experience a little slow down in the market and August is not about to disappoint. I think we’ll see things pick back up a few weeks into September ? call or text 480-250-0023 for details on buying and selling in today’s market conditions.
May still reins champion as the month with the most homes sold in 2018 and we’ve been trickling down ever since. Have no fear, Arizona, this is typical for this season. As the temps heat up, showings die down a bit and therefore sales do too. It’s just too hot and families are wrapping up vacations and getting the kiddos settled and off to school. Interest rates aren’t the lowest we’ve seen but they aren’t the highest either and, with prices still on the climb (steadily), you’re better off buying now than waiting since we already know the prices and rates now…but don’t know what they will be later.
We’ve seen more buyers from CA, Canada, WA and CO than we have in recent years. They are loving our weather, prices and the opportunity that comes with being a Phoenix area resident at this exciting time. Call me, Katie, at 480-250-0023 to discuss how these market conditions are affecting you and your specific situation.
June’s jets have cooled just a little but not much since our fast and furious May. We gained a little more inventory this past month, thank goodness, but still moving along these summer months rather swiftly. Multiple offers are not uncommon and neither are contingencies on selling a home in order to buy another. The Phoenix luxury market has also been busy with58 homes sold just in the last week at $1MM plus all the way up to $4.2MM.
Info courtesy of ARMLS.
It’s typical here in Phoenix to see a bit of a slow down just before the dog days kick in. July and August tend to be less active than the 2nd quarter months. May saw the highest number of sales so far for 2018 pushing us back under 2 months inventory, Valley-wide.
The entry level market is still a beast. Anything under $200k is flying off the shelf as quickly as it’s put on the shelf. In fact, we are seeing low days on market all the way to even $500k as long as it’s appropriately priced. Historic districts are still seeing some heavy activity too since everyone is gaga over homes with character these days.
Info courtesy of ARMLS.
The inventory levels are rising but not as quickly as the temperatures are as we approach summer. March 2018 inventory levels were the lowest we’ve seen in while and new build contracts have skyrocketed due to the low inventory of resale homes.
Selling a home? Better get the sign in the yard soon. As we approach the summer months things tend to slow down a little. Get your home on the market now so you can vacation in July like everyone else! Call 480-250-0023 and ask for Katie!
