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phoenix real estate

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 [...]

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 [...]

Yes, It’s a Seller’s Market in Phoenix Real Estate

by Dru Bloomfield on March 1, 2012

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.

If you think Phoenix Metro home prices are still falling…

by Dru Bloomfield on February 20, 2012

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 [...]

Home interest rates are remarkable and buyers are hungry

by Dru Bloomfield on December 22, 2011

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 [...]