Market Update

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

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

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!

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!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

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 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”? 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 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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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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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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