A home buyer recently asked me for my perspective on the Forbes list of 13 Cities Where Home Prices Are Falling Dangerously, where Phoenix is listed as one of the “13 cities that suffered relatively big home price hits this year with more projected through the next 12 months.” From what I’ve been seeing in [...]
From the category archives:
Market Reports
The November Cromford Report Monthly Market Review started off with the following summary for the Phoenix real estate market for single family housing: In every price range, sales prices in $/SF are now higher than a year ago. Inventory is still falling below $200,000 and constraining sales volumes. Above $200,000, supply is rising and demand remains [...]
The Scottsdale single family home market has definitely seen some improvement during the past 12 months. The number of active listings (inventory) has decreased by 33%, from 3,000 to 2,000 homes per month. Sales have increased about 15%, from 350 to 400 per month. Overall, average price per square foot has held steady, for both listings [...]
Scottsdale home listing prices are on the rise in the central areas of the city that include McCormick Ranch, Gainey Ranch, and Scottsdale Ranch. Seems kind of exciting, at first glance. Looking above at the 90-day rolling average, it’s interesting to see that median price for homes listings is now approaching $188/square foot, which [...]
Scottsdale real estate has its own Cyber Monday going on. Quite a few new listings and more than a handful of price reductions over this past Thanksgiving weekend. During the past four days, 45 single family homes were listed in Scottsdale: Scottsdale Single Family Homes – New to Market Listings and 41 price reductions took [...]
A quick look at the most recent ARMLS Stat Report shows that buyer interest and willingness to pay are definitely creeping up. In the chart above, you can see that percent of home sales in Greater Phoenix is shifting. Sales are down in homes price $100,000 and less, while increasing in price ranges of $150,000-200,000 [...]
Many buyers start off their housing hunting looking to buy a foreclosure in Scottsdale. Getting information from the media or friends, they think that there are a lot of foreclosures for sale in Scottsdale, and that they are going to get a great deal going that route. However, there are a couple challenges with foreclosures [...]
