Huge gains in the Phoenix real estate market this year. Monthly median sales price for the first week of the year was $118,700. And in the 20th week of the year, just four short months later, the median sales price is $142,500. That’s a 20% increase! In four months. If you look at the point [...]
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phoenix real estate
Listen to Jim Sexton, Designated Broker of Realty One Group, share his real estate market insights for March 2012. Some of his notable quotes: “Hot, hot, hot” “I could sell houses if I could find them, if they were on the market” “2 months supply of inventory” “Look for a continued strong market” “Absolute positive [...]
From the Cromford Report: March 8 – As home prices rise at an accelerating rate, we today hit $125,000 for the monthly median sales price (all areas and types) for the first time since August 12, 2010. The lowest monthly median recorded was $107,000. This was measured on February 24, 2011 and again on August [...]
It’s very much a seller’s market in the more affordable price ranges in Phoenix. Homes are flying off the shelf, and it’s difficult for home buyers with financing to compete with those paying cash.
I love the succinctness of Michael Orr, founder of the Cromford Report. From his Daily Observations (available only subscription): February 18 – If you find yourself talking to someone who thinks prices are still falling, please feel free to hand them this chart. According to my calculator, a median price increase from $108,000 to $120,000 [...]
2011 was definitely a turning point for the local real estate market. Home prices are now on the upturn in greater Phoenix area, known as the Phoenix-Scottsdale-Mesa MSA (Metropolitan Statistical Area). Last year locally, the median real estate price for existing single family homes dropped 10.2% from 4th quarter 2010 to 4th quarter 2011, making [...]
Interest rates in Scottsdale are truly remarkable this month. Jay Thompson, aka “The Phoenix Real Estate Guy”, published an update to his interest rate chart a couple days ago showing interest rates at 4%, the lowest rates in the 40 years tracked here by FreddieMac. Personally I can share that the last two contracts I [...]
