WE ARE IN A SELLER’S MARKET
Hi this is Jeff Cameron with The Cameron Team at MRW Homes here in Scottsdale, AZ. I hope you are enjoying this wonderful weather!
Let’s get to the fun stuff, our real estate market. Watching my videos over the past couple of years, you may have noticed I was shocked the market has not turned yet. It finally is. We are seeing price appreciation. With such a low amount of homes for sale we are experiencing bidding wars. I have said to many of you, once the word gets out about what has been going on over the past year, the public will “get it” and prices will rise.
The other day a friend of mine, James, approached me at Keeley’s softball game. He said, I hear prices are getting ready to jump 10-15% and there are no homes for sale. That my friends is the word getting out.
Let’s quickly get to the numbers
Available homes for sale 12,467 down 9% from the beginning of February. This is not healthy as we average 8,000 sales per month for the next 4-5 months over the past 3 years.
Pending 16,653 up 8.2% from last month
Closed 6,058 up 12% from last month
Average price per square foot up 3.2% in one month and up 11.7% from last year’s lows.
New Sales 7,288 up 2% from last month
New Listings 6,016 down 8% from last month. This is the key. As long as we sale more homes than we list, inventory will drop. In my opinion, listings could double or triple and the buyers would absorb them.
CALL ME AT 480-502-7699 OR EMAIL Jeff@TheCameronTeam.com
MRW Homes
480-652-2004