The first quarter of 2017 has certainly been a busy month here in the Phoenix area. With spring training and the Final Four to solid economic growth via more new job announcements, things have been hopping. Of course, we also saw a nice increase in home sales here in the valley, which is great for us here at the Phoenix Real Estate Guy!
As AZ Central reported, residential sales were up 12.5% over the previous year. If you remember correctly, 2016 was a pretty solid year, as well!
As we know, many are looking at the Phoenix real estate market to lead the country in 2017. While some areas and price ranges are doing better than others, the interest rates and relative affordability of homes during this “spring buying season” seems to have people out shopping for homes in droves. Homes under about $300,000 or so are seeing multiple offers and a very short time on the market.
Here’s a great example of what occurred this past weekend. The photo below shows four properties, all priced less than $300,000. We put all four of these homes under contract and not one of them was on the market for a week!
March Madness – Market Gladness
While these homes all sold quickly, we feel like overall prices are moving upwards at a healthy pace. BUT, if you are in the market to buy a home right now, we strongly suggest that you work with an agent who has experience and market knowledge. A couple of these homes received multiple offers, and it was interesting to see how the more experienced agents did a much better job in getting their offers accepted for their clients. We have the market knowledge and experience to help you make solid decisions when choosing which property is best for you, how much to offer and how to structure the contract in competitive situations.
Buying a home is often a big decision for most people. Real estate markets go up, and they go down. A good agent should be able to guide you through the entire process to help you make solid decisions. Stop the madness, work with an agent who sincerely cares about your best interest. For excellent results, work with a Phoenix Real Estate Guy… (or Gal) We can always be reached at 602-803-6425.
Here’s a sample list of single family homes currently listed for sale under $300,000. Let us know if you’d like to start shopping. ( or selling!)