Our Phoenix Scottsdale Real Estate June 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 specific home value - but you can also go on my website at www.wildwestrealestate.us and request a FREE home value report), but overall, let me focus on the main key market figures:
The discount rate, meaning the price at which properties sell versus the listed price is about 2.7% on average - meaning homes are selling at listed price but overall homes sell at 97.3% of their original list price. The negotiating power of the average buyer is much less. Of course, this will vary by market segment ($) and location.
Sold listings are down in June while the total new homes for sales coming on the market are down as well. So this means our inventory of homes is not getting any better and neither shrinking, while remaining tighter and I expect this will put more pressure on prices as it continue to create almost a shortage situation especially in the market segment under $500,000.
It remains a great time to buy as we expect values to continue to rise, but also an awesome time to sell as you can get the most favorable terms and conditions.
Here are the median sold numbers per region and how they have been changing:
June 2013 Phoenix Scottsdale Real Estate Market Update
Richard Bazinet - Realty ONE Group -Phoenix Scottsdale Real Estate