July 2020 Market Report-Metro Phoenix by Jeff Cameron

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Hi-

 

Hello and thanks for tuning in. This is my August real estate market report for home sales in July through Metro Phoenix, Scottsdale and surrounding cities.

 

First, I know the Covid-19 issue is affecting us all. We will make it through! If you have extra time, what can you do with this extra time? Me… I am working on my career, working on my intake of Food and Adult Beverage and working on my adjusted exercises. The first 5 months I was hit with the Quarantine 15, I am reversing that now!

 

What’s happening in the world of Real Estate?

Amazing news about Inventory affecting prices. This is Available Inventory of Single Family Homes in Metro Phoenix is down 44% from last year. Wow! This is the lowest Inventory since June of 2005. What happened back then…. prices soared! The real estate world is different today, but prices are jumping! 

 

 

Let’s look at the numbers for August 1, 2020 from ARMLS for Single Family Homes(Difference is due to no condos etc..)  in Metro Phoenix, Scottsdale, and surrounding cities:

• Active Listings

• • Metro Phoenix           6,477 down 44% from last year, down 26% from July 1st.
  • Scottsdale                     911  up 30% from last year, down 41% from July 1st.
  • McDowell Mtn ranch       27  down 4% from last year, down 4% from July 1st.
  • Tatum and Bell                 3  down 73% from last year, down 25% from July 1st.
  •  

• Pending Listings

• • Metro Phoenix          10,331 up 15% from last year, down 17% from July 1st.
  • Scottsdale                      694 up 24% from last year and down 39% from July 1st.
  • McDowell Mtn ranch        25 up 19% from last year, up 47% from July 1st.
  • Tatum and Bell                   14 up 8% from last year, down 7% from July 1st.
  •  

• Closed Listings

• • Metro Phoenix             8,705 up 12% from last year, down 11% from July 1st.
  • Scottsdale                       579 up 22% from last year, up 27% from July 1st.
  • McDowell Mtn ranch        13 down 13% from last year, down 48% from July 1st.
  • Tatum and Bell                     12  down 8% from last year, down 8% from July 1st.
  •  

• Average PPSF

• Metro Phoenix              $187 up 12% from last year, up 3% from July 1st.
• Scottsdale                     $286 up 11% from last year, up 9% from July 1st.
• McDowell Mtn ranch     $288 up 13% from last year, up 6% from July 1st.
• Tatum and Bell             $215 up 14% from last year, up 1% from July 1st.
•  
• New listings                 4,239  down 31% from last year, down 52% from July 1st.
• Sold Last Month          6,560  down 10% form last year, up 30% fromJuly 1st.. Prior 2 months had sales over 9,000 each.
•  
• Months supply of homes
  • <1 month supply comparing Active to Closed
  • 1 month supply compared to Sold (new sales for the month)

I don’t like to predict the market. But with Inventory this low it can only mean a SELLER’S MARKET!

 

Are you thinking of buying or selling a home? Would you like to see the best newest Cutting Edge technology in selling homes to Net you the Most in the sale of your home? 

 

Would you like to Make a Well Informed purchase without pressure and with someone experienced to negotiate the best deal for you?

 

If you thinking of selling and buying?

 

I am your man! Did you know we reduce our commission when you use us to both buy and sell your home?

 

Call me today!

 

Jeff Cameron 480-652-2004. 

HomeSmart

I want to be your Realtor… What can I do for you today?

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