Dated: 09/26/2017
We haven't shared a Phoenix area market update in a while so it's probably well past time!
Here's a look at the averages this last week for a rolling 30 days and the year-to-date numbers compared to last year for the major cities listed below. Want numbers for another part of town? No worries! Call or Email Chelsea at (602) 748-6136 and she'll happily send those over. Want to check your home value now? Click here!
The overall market continues to be a seller's market in ARMLS (Maricopa & Pinal counties database) with 17,897 active homes on the market (with less than 2% of those listed being distressed properties), 10,360 homes under contract and 7,905 closed in the last 30 days. The average sold price ended up at just under $300k at $294,461 or $184.84 per square foot. Homes on average sold in 66 days. For the year, we're up over 4,000 units sold from 2016 and prices have increased 6.7% year-over-year. Remember, this is macro-data. Each city and each neighborhood can always tell a different story. Call 480-518-9907 to figure out your micro-data for your specific house & neighborhood.
| CITY | Average Sold Price | Average Price/Sq Ft | Avg Sold Price Y-o-Y 2016 | Avg Price/Sq Ft Y-o-Y 2016 |
| Chandler | $324,112 | $155.94 (+5.9%) | $302,658 | $146.70 |
| Glendale | $235,010 | $127.29 (+6.5%) | $219,133 | $118.89 |
| Gilbert | $352,753 | $152.94 (+3.8%) | $329,884 | $147.10 |
| Mesa | $245,604 | $136.87 (+8.0%) | $224.287 | $125.86 |
| Peoria | $289,842 | $138.39 (+7.4%) | $265,393 | $128.14 |
| Phoenix | $271,936 | $159.03 (+4.1%) | $255,460 | $152.42 |
| Queen Creek | $306,895 | $126.51 (+7.0%) | $288,430 | $117.53 |
| Scottsdale | $532,896 | $220.03 (+5.0%) | $507,000 | $208.95 |
| San Tan Valley | $211,211 | $108.68 (+9.5%) | $195,241 | $98,30 |
| Tempe | $275,378 | $163.61 (+6.3%) | $260,954 | $153.21 |
There's a couple conclusions to draw from this info above... We have had a decent year in price increases across the board. Our average annual appreciation in the valley is 4-6% and most cities are well within that range. The areas that tend to be up a bit higher also have the lower average price point which means tons of buyer competition and a lower inventory supply. What does this mean? Prices have kept going in a great direction for Sellers and inventory levels remain low which helps the days on market numbers over all. With buyer demand up 25%, 4th quarter is going to be a great selling season again. Check your value now!
Call 480-518-9907 to start the home selling process!
Want to see what's been listed recently? Click here:
Click here for all the results
Thank you so much for posting these fabulous and absolute tips!
ReplyDeleteIf you are relocating for a job opportunity, take into consideration the cost of living in the new city. You may think you are getting a great salary offer, but if living expenses are much greater there than in your current city, the opportunity may not be so wonderful after all.
You can read our new article: https://moving-me.com/top-moving-companies-in-washington/