Tuesday, January 14, 2014

Phoenix Scottsdale Real Estate: The Perfect Storm

#Phoenix Scottsdale Real Estate: The Perfect Storm

The perfect storm. For both sellers and buyers. Our real estate market has seen a lot of changes, again. Closed sales are up 15% end of December 2013 from last month, but down 16% from last year. New contracts down 23% from last year, and new listed homes for sale are down 4% from last year. The time it takes to sell a home also increased by to 71 days – thus houses are taking longer to sell.

The good news is that average values are up about 18.5% from last year, depending on your community. How did your house make out in average value increase? If you don’t know, but I’d be happy to tell you – just email me at

So, why is it the perfect storm? For sellers, it’s time to sell! New listings hitting the market are down, and the total number of total listings is slightly down – we need good new fresh inventory – your property. The great news is that prices are stable and up considerably from last year!! For you buyers – it will not get any better! Buying now before price increases AND interest rate increase in 2014. Less competition because of lesser buyers and great inventory from motivated sellers!! We have the largest gap between of available listings and closed sales in the last 2 years!!

#Richard Bazinet - Realty ONE Group - Phoenix Scottsdale Real Estate

Phoenix Scottsdale Real Estate: The Perfect Storm