As we get into the holidays, we typically experience a slow down in activity. There are fewer sellers wanting to sell and fewer buyers wanting to buy. The homes that we do see come on the market are often more motivated then at other times of the year. The people that are out shopping during the 4th quarter often are up against a time crunch and are more likely to buy quickly or negotiate a better deal. The real estate market is still very active in this area as we enter into the holiday season. We have seen more homes on the market then we have in the last 6 months and we have seen more homes sell then we have in those same 6 months reducing our supply down to only 2.6 months which indicates a seller's market. Due to the lower demand this may shift quickly into a balanced market during the holidays.
The odd thing about our market today is that the overall feeling is more of a buyers market. Buyers are taking their time making an offer and are generally shopping for a "deal." To appeal to buyers in today's market, price is everything! Pricing on the lower end of the comps will get you the best traffic and ultimately yield the correct price for the property. The trick now is to get the buyer's attention within the first 2 weeks.
The 85028 market statistics from November 2014 show an increase in activity and a small decrease in prices.
The average sold price is $312,030 ($156.46/square foot) - Down 4% from last month
The average days on market is 95 - up 26% from last month
Sold 46 homes in 85028, 24% more than last month
Currently we have 121 active homes, up 3% from last month which remains relatively constant. This active home number of 121 and the sold number of 46 gives us a 2.6 months supply which is down from 3.2 months in October.
We are seeing homes achieve contracts at 97% of list price which is up from 95% of list price in October.
The odd thing about our market today is that the overall feeling is more of a buyers market. Buyers are taking their time making an offer and are generally shopping for a "deal." To appeal to buyers in today's market, price is everything! Pricing on the lower end of the comps will get you the best traffic and ultimately yield the correct price for the property. The trick now is to get the buyer's attention within the first 2 weeks.
The 85028 market statistics from November 2014 show an increase in activity and a small decrease in prices.
The average sold price is $312,030 ($156.46/square foot) - Down 4% from last month
The average days on market is 95 - up 26% from last month
Sold 46 homes in 85028, 24% more than last month
Currently we have 121 active homes, up 3% from last month which remains relatively constant. This active home number of 121 and the sold number of 46 gives us a 2.6 months supply which is down from 3.2 months in October.
We are seeing homes achieve contracts at 97% of list price which is up from 95% of list price in October.
Call Chelsea Elwood Anderson at (602) 748-6136 for more information on home sales in the 85028 neighborhood.
Comments
Post a Comment