Saturday, April 13, 2013

March 2013 Phoenix Scottsdale Real Estate Market Update

March 2013 Phoenix Scottsdale Real Estate Market Update

Our Phoenix Scottsdale Real Estate March 2013 numbers are in! And they look great! It would be to onerous to give you the breakdown by area (but you can email me or call me for YOUR numbers or for your specific home value), but overall, let me focus on the main key market figures:

Overall market values are up a whopping 26% for the rolling year, overall, and up 3.5% from last month (February 2013) while the average days on the market decreased by 20% for the rolling year and decreased %1.35 for the month to month. This means in simple terms, that properties are selling much faster. The inventory is currently at about 2.9 months. So definitely house sales from time to market are actually accelerating.

The discount rate, meaning the price at which properties sell versus the listed price is about .4% on average - meaning homes are selling at listed price but overall homes sell at 96.5% of their original list price. The negotiating power of the average buyer is really almost balanced with the selling power of the seller. Of course, this will vary by market segment and location.
 What is particularly interesting is that sold listings are up by much in March while the total new homes coming on the market are up as well but not matching the rate at which homes are sold. So folks, this means our inventory of homes is getting shrinking, getting tighter and I expect this will put more pressure on prices as it creates almost a shortage situation.

Here are the median sold numbers per region: 

So, if you or anyone else you know were thinking of selling, now is a good time for the best price, terms and conditions. You’ll want to hear about my power 10-step Listing Marketing Plan for more horsepower into the market. 

And potential sellers should get in touch with me for my new FREE Consumer Report report about How To Avoid 7 Costly Mistakes When Selling Your Home.

Also, I have a long list of clients that are waiting patiently for the right home to be on the market. Let me know if you intend to sell yours, I might have a buyer for it.

And if you are curious as to what your house is worth on the market, please give me a call.

On the other hand, if you are buying or know someone who is, now is also the right time - and buyers should not hesitate to write offers. 

Buyers should contact me as soon as possible to get a copy of my Free Consumer report about 8 Secrets For Saving Thousands When Finding, Buying and Financing Your Home.

As I mentioned, buyers and sellers have equal powers of negotiations and in some markets, sellers have the upper hand. It will take a real experienced pro to navigate the current real estate waters, find the right house and get you the best possible deal. 

Please feel free to contact me with, and for your friends and relatives with their information and I’ll be glad to contact them on your behalf and send them a copy of my Buyers Guide to Arizona Real Estate.

Richard Bazinet - Realty ONE Group -Phoenix Scottsdale Real Estate

March 2013 Phoenix Scottsdale Real Estate Market Update