Hi it’s Jeff Cameron your friendly neighborhood Realtor at HomeSmart here Live from McDowell Mountain Ranch in north Scottsdale.
Can you believe, we are in the second week of March! It is Spring Break here in Scottsdale. But why go anywhere when it is so beautiful here!
Compared to last year we are doing great. Inventory is down 13%, closings up 11% and new sales are up 11% and the average price per square foot was up 2% from last year. This is good and we are setting up for a good year after 2014 was so Blah! You can read all the numbers on the screen.
What is affecting the market? We still are enjoying incredibly low rates. The price of gas is down, but I think this will take a little time to affect the economy. I don’t know about you, but I charge my gas. Just because my credit card bill is lower doesn’t mean I am going to go out and spend, but eventually I will notice it and use my spending power. Lower oil has actually caused many job losses. Don’t get me wrong, lower gas prices are stronger in the long run.
Speaking of Jobs…. February created 295,000 Jobs nationally, that is 3.2 million in the past year. We should start to see wage acceleration soon as companies pay to steal employees from other companies.
We are getting more jobs here in the valley. The forecast is for 120,000 new jobs over the next 2 years. Did you see Northern Trust is bringing 1,000 jobs to Tempe averaging $82,000 in salary. Nice! The valley has not recovered as well as competing cities across the Mountain West. Places like Austin, Denver, Oklahoma City, Salt Lake, and Seattle have invested more in their Downtown, infrastructure, offer better mass transit, more educated people, but what I have read mostly is our poor reputation in Politics and Education. I don’t have the answers here, just reporting on why we are not growing as quickly as sister cities.
We should expect many more jobs from the exposure from the SuperBowl.
Let’s look at the numbers…
As of March 1, 2015, the numbers are below.
Active last yr/month Pending Closed PPSF Sold Months Supply
Metro Phoenix 18,778 -13% -2% 8,7781 +9% +19% 4,910 +11% +26% $123 +3% +0% 6,325 +19% +14% 4 / 3
Scottsdale 2,29 -1% +2% 621 +9% +29% 317 +2% +7% $218 +5% +4%
MMR 58 -23% +5% 29 +38% +12% 12 +20% +20% $260 +13% +14%
Tatum & Bell 12 -29% -25% 13 -13% +8% 9 +125% +350% $141 -14% -5%
Just my opinion…. Based on Facts!
Jeff Cameron 480-652-2004.
I want to be your Realtor… What can I do for you today?
Take a tour of this 5,700 SF Luxury Santa Barbara in Scottsdale on over an acre for $1 million exactly