Market Update

Market continues to go Gangbusters in 2020

Market continues to go Gangbusters in 2020

Luxury Sales Over $1M Up 52% in January Supply Between $200K-$250K Down 60%  For Buyers: Supply continues to drop as the market heats up with the seasonal rush of Buyers. Typically we would see supply rising at this time of year as ...

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Time is of the Essence for Buyers AND Sellers

Time is of the Essence for Buyers AND Sellers

Active Supply is Down 32% Median Sale Price up 11% and Expected to RiseFor Buyers: The urgency for buyers cannot be stressed enough; real estate prices are not projected to decline in the Greater Phoenix area in 2020. There isn’t one measure ...

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19% of Homes Sold Over Asking Price Last Month!

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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Despite Rising Prices, Affordability is Good

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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Supply is Down 73% in this Area and Price Range

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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Contracts up 19% in this Price Range!

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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Listings Under Contract Up 19% in 5 Weeks!

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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It’s Still a Good Time to Sell… For Now

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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Supply Continues to Rise in the Middle

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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Is Greater Phoenix “Overvalued”?

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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MLS Sales Outperform non-MLS Sales in Frenzy Market

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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