2020 Broke the Record for Luxury Sales Supply Down 51%, Slim Pickings in 2021 For Buyers: There were 111,036 new listings added to the Arizona Regional MLS (ARMLS) in 2020, only 38 more than 2019, while 100,650 sold. As of January 10th, 2021 there were only 6,162 listings still active in the MLS, which is
November 2020 Phoenix Real Estate Market Update
November 2020 Market Update courtesy of Cromford Report — Demand for Homes Up 36%! — Rents up 17% Since April! Here are the basics for November 1, 2020 compared with November 1, 2019 for all areas & types: Active Listings: 8,682 versus 14,525 last year – down 40.2% – but up 7.4% from 8,101 last month
Phoenix Metro Real Estate Market Report July 2020
Market Summary for the Beginning of July Top 5 Cities Selling Over Asking Price Contracts Accepted in 8 Days or Less Under $400K Here are the basics – the ARMLS numbers for July 1, 2020 compared with July 1, 2019 for all areas & types: Active Listings: 8,788 versus 15,422 last year – down 43.2% –
March 2020 Phoenix Real Estate Market Report
Officially a Frenzy: 11% More Contracts Than Listings For Sale Contracts Over $1M up 60% Over Last Year Market Summary for the Beginning of March The supply situation is even more extreme than last month. Rapidly rising prices have done little to dampen demand. Here are the basics – the ARMLS numbers for March 1,
January 2020 Phoenix Real Estate Market Report
Market Summary for the Beginning of 2020 Courtesy of The Cromford Report The current situation is remarkable. Here are the basics – the ARMLS numbers for January 1, 2020 compared with January 1, 2019 for all areas & types: Active Listings: 12,141 versus 17,339 last year – down 30.0% – and down 12.5% from 13,869 last
Top 3 Myths About Today’s Real Estate Market
There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a
August 2018 Phoenix Real Estate Market Report
Supply between $200K-$250K has Risen 8.1% since May Seller Price Reductions Up 7% in Popular Price Range For Buyers: If your budget lies somewhere between $200,000 and $400,000 for a home, there’s good news for you. Supply between $200,000 and $250,000 has been rising gradually over the past 12 weeks. After dropping 15% from 2,300
Have You Outgrown Your Starter Home?
For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which
