19% of Homes Sold Over Asking Price Last Month!
19% of Homes Sold Over Asking Price Last Month! 24% of Sellers Agreed to Closing Cost Assistance
For Buyers:
Supply shortages created an environment of multiple offers and listings sold over asking price last month. This is ...
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Posted by Jessica Jablonski on December 11, 2019 in Market Update
Despite Rising Prices, Affordability is Good
Contracts In Escrow Up 19% Over Last YearDespite Rising Prices, Affordability is Good
For Buyers:Buyers waiting for prices to come down have been sorely disappointed so far in 2019. The average sale price per square foot is up 6.7% since last ...
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Posted by Jessica Jablonski on November 19, 2019 in Market Update
Supply is Down 73% in this Area and Price Range
New Listings Up 10% from July to AugustSupply is Down 73% in this Area and Price Range
For Buyers:A faint glimmer of good news for buyers, supply finally stopped declining and actually rose a tiny bit in the last week. While active listings ...
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Posted by Jessica Jablonski on September 30, 2019 in Market Update
Contracts up 19% in this Price Range!
Jablonski Group at Russ Lyon Sotheby's International Realty
Contracts up 19% in this Price Range!Flip Sales Rebounding Strong after Weak First Quarter
For Buyers:New listings activated in June were down 10.0% compared to last June and overall ...
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Posted by Jessica Jablonski on July 31, 2019 in Market Update
Re-sale prices are not predicted to come down this year.
Jablonski Group at Russ Lyon Sotheby's International Realty
For Buyers:
Re-sale prices are not predicted to come down this year. Between August 2018 and January 2019 it looked like the market was going to balance out and cause prices to ...
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Posted by Jessica Jablonski on June 14, 2019 in Market Update
Low Interest Rates are Continuing to Fuel Buyer Demand
Increased Demand in Q2 Resulted in Strengthening the Seller Market After a Full 7 Months of Decline.
For Sellers:Low interest rates are continuing to fuel buyer demand and there are now 2.5% more listings under contract today than there were last ...
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Posted by Jessica Jablonski on May 14, 2019 in Market Update
Listings Under Contract Up 19% in 5 Weeks!
Listings Under Contract Up 19% in 5 Weeks!Mortgage Payments Drop $50 per Month on a Median Priced HomeFor Buyers:Buyers got a break last month as 30-year mortgage rates dropped significantly from an average of 4.41% to 4.08%, which is the lowest ...
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Posted by Jessica Jablonski on April 27, 2019 in Market Update
List Price Reductions up 24% in Greater Phoenix, Up 42% in Some Areas
List Price Reductions up 24% in Greater Phoenix, Up 42% in Some AreasSellers: Stop Trying to Time the Market
For Buyers:A weak 4th quarter for sales in 2018 has resulted in 11,874 price reductions in the first 5 weeks of 2019. That’s ...
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Posted by Jessica Jablonski on February 27, 2019 in Market Update
It’s Still a Good Time to Sell… For Now
Greater Phoenix Buyer Contracts Down 15%It’s Still a Good Time to Sell… For Now
For Buyers:The monthly average interest rate rose to 4.64% in December 2018, up 0.69% from the previous December’s 3.95%. For buyers who will ...
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Posted by Jessica Jablonski on January 18, 2019 in Market Update
Seasonally, This is the Calm Before the Storm for Buyer Activity
Seasonally, This is the Calm Before the Storm for Buyer ActivityGreater Phoenix Demand Down 16% in Q4The 4th Quarter is Seasonally the Best Time to be a Buyer
For Buyers:Remember when you would not eat your dinner as a kid and your parents would ...
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Posted by Jessica Jablonski on December 21, 2018 in Market Update
The 4th Quarter is Seasonally the Best Time to be a Buyer
New Listings Up 18% in October between $250K-$400K
The 4th Quarter is Seasonally the Best Time to be a Buyer
For Buyers:Seasonally the 4th Quarter is the best time to be a buyer and this year is no exception. Typically buyer contract activity ...
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Posted by Jessica Jablonski on November 20, 2018 in Market Update
Price Reductions up 27% on Active Listings Between $250K-$400K
Seller Concessions Spike on Listings Sold Between $200K-$250K
Price Reductions up 27% on Active Listings Between $250K-$400K
For Buyers: October marks the 4th month in a row that supply has continued to rise between $200K - $400K, which is good ...
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Posted by Jessica Jablonski on October 24, 2018 in Market Update
Supply Continues to Rise in the Middle
Supply Continues to Rise in the MiddleSeller Price Reductions up 46% and 61% in these Price Ranges
For Buyers:Overall supply is down 9.6% compared to last September. At first glance that’s nothing new. However, for those of you ...
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Posted by Jessica Jablonski on September 24, 2018 in Market Update
Seller Price Reductions Up 7% in Popular Price Range
Supply between $200K-$250K has Risen 8.1% since May
Seller Price Reductions Up 7% in Popular Price Range
For Buyers:If your budget lies somewhere between $200,000 and $400,000 for a home, there’s good news for you. Supply between ...
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Posted by Jessica Jablonski on August 20, 2018 in Market Update
Cost of Waiting to Buy Means Less Closet Space or Higher Payment
Cost of Waiting to Buy Means Less Closet Space or Higher PaymentMore New Homes Sell in Low $200’s This Year
For Buyers:Hearing cries for more affordable housing supply, developers have sold more new homes in the low $200’s this year; ...
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Posted by Jessica Jablonski on July 18, 2018 in Market Update
Is Greater Phoenix “Overvalued”?
Is Greater Phoenix “Overvalued”?
Mortgage Payments Are Lower Than They Were 13 Years Ago
For Buyers: Interest rates have been increasing along with the inflation rate as of late, which has spawned a string of headlines about ...
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Posted by Jessica Jablonski on June 13, 2018 in Market Update
Summer is a good time to List Luxury Properties over $500K
Summer is a good time to List Luxury Properties over $500KSupply between $175K-$200K dropped 18% in 3 WeeksFor Buyers: Supply under $200K has continued to drop rapidly, but the $175K-$200K range has accelerated its decline over the past month ...
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Posted by Jessica Jablonski on May 16, 2018 in Market Update
MLS Sales Outperform non-MLS Sales in Frenzy Market
MLS Sales Outperform non-MLS Sales in Frenzy Market Supply Supply Under $200K Down 36% Over Last YearFor Buyers: Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the ...
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Posted by Jessica Jablonski on April 16, 2018 in Market Update
17% of Sales are Closing Over Asking Price
Median Sale Price up $20,000 over March 2017
17% of Sales are Closing Over Asking PriceFor Buyers:The percentage of seller concessions awarded to buyers has dropped down to 24% in the first quarter of 2018 after 2.5 years of consistently landing ...
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Posted by Jessica Jablonski on March 16, 2018 in Market Update
Greater Phoenix Market Update - February
MLS Sales Over $1M up 36%Inventory Under $150K Down 62%
For Buyers:Buyers continue to have a tough time finding inventory on the low end of the market. New listings overall are down 9% year-to-date thus far, which doesn’t help matters. ...
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Posted by Jessica Jablonski on February 21, 2018 in Market Update