The One-Minute Market Report: Here’s What’s Happening in Phoenix Scottsdale Area, AZ as of end of June 2018
Market status: HOT for Sellers AND Buyers – very strong sales month! The market is still on fire!!! Hot, Hot, Hot….
June 2018 Dollar Value of Homes Sold: WOW! up 5% from a year ago.Down 9% from last month. This is normal for June.
June 2018 Closed Sales: Down 3% from last year,down 10% from last month.
June 2018 Average Home Price Sold: Up 10% from last year to $305,000, up 1% from last month.
June 2018 Average Days On The Market: Down to 60 days, homes are selling fast – and faster than last month.
June 2018 Discount price: About 2.5%. 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.
June 2018 Market Numbers: 15,9080 active listings on the market (very, very, very low!!!), 8.600 new contracts, and about 8,920 sold in the last 30 days. An incredibly very low inventory! And strong sales! The market is red hot!!!
Recommendation: You see it, like it, then buy it… fast. Look now, look tomorrow: gone
June 2018 The Total County Absorption Rate: down to 2.4 months of inventory, which means houses are selling fast!! And inventory is being absorbed!
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