Hi it’s Jeff Cameron your friendly neighborhood Realtor at HomeSmart here Live from McDowell Mountain Ranch in north Scottsdale.
Thanks for tuning in! We are going to look at 2 things today. The what is happening in the market and who is buying, selling and renting. Now, I only know my people’s motives, so it will be a small sampling. There is room for error. But I thought you would find it interesting.
Let’s see who I am working for over the past year:
13 over the past year
6 Were liquidating rentals. 5 of the 6 were folks that moved before, but could not sell their home and rented it to wait for the value to come back
2 Retired family
2 sell and buy 1 sideways move to another area and 1 move up to more expensive and new build
2 Sell a vacation home
1 Relocation back east to family, older gal.
14 Buyers over the past year
5 were families that can now re-enter the market due to time of Short Sale, Foreclosure or Bankruptcy.
4 Relocation Families
2 Buyers after sale from above
2 Single mom’s buying a home, 1 help from family, other FHA max loan amount.
4 Renting due to past credit, can’t buy.
3 Relocation and want to rent first before buying.
3 Because they could not sell the home for what they wanted.
2 I didn’t represent and didn’t know their reasoning.
People I am working with-
Seller to move up. Can’t find what they want. Just lost a home to another buyer.
Luxury buyer relocation
Luxury buyer purchasing 2nd home. Canadian.
4 Relocation $200-500k
In a nut shell, more investors selling than buying. But they weren’t real investors. Lots of relocation families, and many renting first. In the past, I worked with more out going relocation families, now I am getting more moving here. Good amount of Boom a Rang Buyers, those that now qualify again. Few Sell and Buy clients, which is normally my biggest group. The biggest issues I see are 1. Sellers are still wanting a value higher than the current market value so the rent or don’t enter the market. 2. The options for homes is weak. I have many buyers that cannot find a home. The biggest reason is most of the available homes are over priced.
So, what is happening in the real estate market here in metro Phoenix, Scottsdale, my home… McDowell Mountain Ranch and Tatum & Bell neighborhood in Phoenix?
Let’s look at the numbers for November 1, 2015 from ARMLS for Single Family Homes(Difference is due to no condos etc..) in Metro Phoenix, Scottsdale, McDowell Mountain Ranch, and Tatum and Bell:
- Active Listings
- Metro Phoenix 17,384 down 14% from last year and up 6% from last month. We are now up 11% over the past 2 months.
- Scottsdale 2,089 down 1% from last year and up 13% from last month
- McDowell Mtn ranch 54 down 18% from last year and up 20% from last month
- Tatum and Bell 14 down 42% from last year and up 17% from last month
- Pending Listings
- Metro Phoenix 7,756 up 15% from last year and down 2% from last month
- Scottsdale 503 up 15% from last year and down 7% from last month
- McDowell Mtn ranch 17 down 6% from last year and down 51% from last month
- Tatum and Bell 7 down 50% from last year and down 42% from last month
- Closed Listings
- Metro Phoenix 5,273 up 3% from last year and down 9% from last month
- Scottsdale 377 up 12% from last year and down 6% from last month
- McDowell Mtn ranch 22 up 47% from last year and up 22% from last month
- Tatum and Bell 7 down 13% from last year and down 22% from last month
- Average PPSF
- Metro Phoenix $131 up 7% from last year and flat from last month
- Scottsdale $209 flat from last year and last month
- McDowell Mtn ranch $228 down 8% from last year and down 4% from last month
- Tatum and Bell $158 up 3% from last year and down 6% from last month
- New listings 6,464 up 17% from last year and up 7% from last month
- Sold Last Month 5,465 up 15% form last year and up 4% from last month
- Months supply of homes
- 3.3 month supply comparing Active to Closed
- 3.2 month supply compared to Sold (new sales for the month)
Check out this link Right HERE https://matterport.com/try/
As of November 1, 2015, the numbers are below for Single Family Home Sales. First, YTD we have closed 59,885 SFR 10% more than last year. We were running at 11% over last year in October.
So, Inventory is growing at a strong rate, but we are still way below last year. Sales are also up, just not as much as new inventory over the past 2 months. Before last month, inventory had shrunk every month this year since January.
Do you have questions about your niche market? Call email or text me and I will be happy to walk you through your market. Also, do you know anyone looking into real estate, please send them my way. I will be happy to assist them.
Jeff Cameron 480-652-2004.
I want to be your Realtor… What can I do for you today?
Have you seen my Drone aerial videos of homes? Cutting edge marketing!