The latest data for the Phoenix area real estate market is out and it remains a healthy, sellers market. Fewer homes are on the market, but the homes being listed are selling quickly!
As you can see below, fewer homes are coming on the market recently. This opens an opportunity for sellers to attract buyers, perhaps multiple buyers and holds values steady. Overall inventory is considerably lower than what we typically call “normal”. This creates a bit of competition for buyers. However, buyers are being savvy and not getting into “Bidding Wars” in the majority of cases. Well priced homes are key to quick sales.
Sale prices are reflecting the growing market as buyers are willing to pay top dollar (but not overpay) when they find a home that not only fits their needs, but shows well. This growth remains healthy and shows that values are holding strong.
The bottom line:
This is a great time to sell. Listen to the advise of your agents. Declutter, clean, paint where needed, stage your home to show it at it absolute best. Most importantly…price it right! Buyers are willing to pay top dollar, but they won’t over pay. Homes priced too high will sit on the market. Again, listen to your agent, they are the best resource for you.
Get your ducks in a row before you shop. Get your loan pre-qualification from a great lender. Your agent should refer a few for you to talk with in addition to your bank and other lenders that you know so you can choose the loan program and lender that you are comfortable with.
Use the expertise and advice of your agent. Don’t offer too low, be reasonable with your requests for concessions, and get a home inspection.
Remember, you will be in competition with other buyers, if you love it, so does someone else. Be ready to “Go Get It”, but don’t over extend yourself. Your new home should be a happy place, not a stressful one.
If you are in need of an experienced REALTOR®, or you have a friend or family member that is, please call me. I’d love to earn your business. Buying, selling…or both.
Kevin L. Jacobs REALTOR® – Realty One Group – GiantAgent.com – (602) 818-6065