The One-Minute Market Report: Here’s What’s Happening in Phoenix Scottsdale Area, AZ as of end of April 2018
Market status: HOT for Sellers AND Buyers – strong sales month! The market is still on fire!!! Hot, Hot, Hot….
April 2018 Dollar Value of Homes Sold: WOW! up 14% from a year ago.Down 3% from last month.
April 2018 Closed Sales: Up 4% from last year,down 4% from last month.
April 2018 Average Home Price Sold: Up 10% from last year to $305,000, up 1.7% from last month.
April 2018 Average Days On The Market: Down to 64 days, homes are selling faster than last month.
April 2018 Discount price: About 2.8%. Sellers have ‘the’ edge, but buyers can still buy with a small discount, but it’s diminishing – it’s tight. Buy and don’t argue too much.
April 2018 Market Numbers: 16,300 active listings on the market (very, very, very low!!!), 10,500 new contracts, and about 9,650 sold in the last 30 days. An incredibly very low inventory! And high spike in sales of homes! The market is red hot!!!
Recommendation: You see it, like it, then buy it… fast. Look now, look tomorrow: gone
April 2018 The Total County Absorption Rate: down to 2.5 months of inventory, which means houses are selling fast!! And inventory is being absorbed!
Want to know how your city, area code or subdivision or area is doing? Send me an email… at email@example.com and get your report.
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