How’s Your Market Changing? (April)

Spring is still in full swing and creating more properties on the market as well as more sales! This month the market looks particularly good in the south east valley in Chandler, Gilbert, and Mesa. Even though these cities have more active listings on the market, they are still increasing in average price per square foot, have higher listing success rates, and on average less days on market, all wonderful news for sellers!

Below are some market updates for different cities in the Valley to keep you in the loop on how YOUR property values are changing:

Avondale

In Avondale this month’s average sales price is at $97.78 per square foot. This is down slightly from last month but is up an average of 7.7% from this time last year. The number of active listings is up again from last month, which is what could have caused the slight drop in price per square foot. More houses for sale equals more competition with other listings. More inventory on the market could also be affecting days on market with the average days on market at 71 days compared to 59 last month. Listing success rates dropped a bit this month and are at 79.8% compared to 80.4% last month (this could also be because there are more listings active on the market!). The average sales price is $198,112 with an average size of sold listings being 2,026 square feet.

Chandler

In Chandler this month’s average sales price is at $147.34 per square foot. This is up yet again, and is up an average of 6.3% from this time last year. The number of active listings is up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers!  Properties are selling quicker with the average days on market at 73 days compared to 76 last month. Listing success rates are up this month at 82.6% compared to 76.3% last month. The average sales price is $317,813 with an average size of sold listings being 2,157 square feet. Overall Chandler’s market is looking VERY strong right now.

Gilbert

In Gilbert this month’s average sales price is at $135.04 per square foot. This is up from last month, and is up an average of 5% from this time last year. The number of active listings is up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still staying steady is great news for sellers! Properties are selling slightly faster with the average days on market at 76 days compared to 78 last month. Listing success rates are up this month at 83.2% compared to 80.1% last month which is good news for sellers. The average sales price is $303,986 with an average size of sold listings being 2,251 square feet. Overall Gilbert’s market is looking VERY strong right now.

Glendale

In Glendale this month’s average sales price is at $119.70 per square foot. This is down just cents from last month, and is up an average of 10.5% from this time last year. The number of active listings are down from last month which is good for sellers as there is less competition on the market. Properties are selling quicker with the average days on market at 59 days compared to 65 last month. Listing success rates are up this month at 81.3% compared to 79.9% last month.  The average sales price is $225,994 with an average size of sold listings being 1,888 square feet.

Mesa

In Mesa this month’s average sales price is at $129.79 per square foot. This is up again this month, and is up an average of 4.1% from this time last year. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers! Properties are selling quicker with the average days on market at 69 days compared to 76 last month. Listing success rates are up this month at 82.3% compared to 80.7% last month. The average sales price is $245,555 with an average size of sold listings being 1,892 square feet. Overall Mesa’s market is looking VERY strong right now.

Peoria

In Peoria this month’s average sales price is at $128.89 per square foot. This is up from last month, and up an average of 3.9% from this time last year. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers! Properties are selling at the same pace with the average days on market at 76 days which is the same as last month. Listing success rates are up significantly this month at 80.1% compared to 71.3% last month which is good news for sellers. The average sales price is $273,239 with an average size of sold listings being 2,120 square feet.

Phoenix

In Phoenix this month’s average sales price is at $145.39 per square foot. This is down slightly from last month, but is up an average of 8.5% from this time last year. The number of active listings is up again from last month, which is what could have caused the slight drop in price per square foot. Properties are selling at the same pace with the average days on market at 72 days which is the same as last month. Listing success rates are up slightly this month at 78.4% compared to 78% last month. The average sales price is $272,022 with an average size of sold listings being 1,871 square feet.

Scottsdale

In Scottsdale this month’s average sales price is at $227.42 per square foot. This is down consistantly since December 2015, but is up 0.4% from this time last year. One thing with Scottsdale to keep in mind is that they offer a diverse range of property types and prices and not all areas are down. So when looking to buy or sell it’s very important to look at the specific zip code to get accurate information. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still decreasing could be potential bad news for sellers. Properties are selling slightly quicker this month with the average days on market at 105 days compared to 124 days last month. Listing success rates are up this month at 70.2% compared to 67.7%. The average sales price is $624,729 with an average size of sold listings being 2,747 square feet.

Tempe

In Tempe this month’s average sales price is at $152.62 per square foot. This up from last month, and also up an average of 5.5% from this time last year. The number of active listings is down from last month which is good for sellers as there is less competition. Properties are selling quicker with the average days on market at 66 days compared to 73 last month. Listing success rates this month are up this month at 88.1% compared to 79.8% last month. The average sales price is $295,777 with an average size of sold listing being 1,938 square feet.

Remember

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call/text at 602.574.3438 for more info!

The above statistics are from the April 7th, 2016 Cromford Report.

About Rachell

 

Rachell Pintor | Licensed Realtor with Twins & Co. Realty | Mobile: (602) 574-3438 | Email:  Rachell@TwinsandCompany.com

What can $250K Buy You Today in Different Phoenix Metro Cities?

With spring in full swing the real estate market is booming. We’ve finally gotten to a point to where housing inventory is back up again. Each phoenix metro area or city brings in their own average per square foot. Take a peek at these active listings to see what $250K can get you in today’s market in different cities.

Gilbert: This 2,105 square foot 3 bedroom/2.5 bath + loft is listed for $250k by Russ Lyon Sotheby’s International Realty.

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Chandler: This 1,982 square foot 3 bedroom/2.5 bath + loft is listed for $250k by DenMar Realty.

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Tempe: This 1,732 square foot 3 bedroom/3 bath is listed for $250k by LRA Real Estate Group, LLC.

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Scottsdale: This 1,332 square foot 3 bedroom/2 bath is listed for $250k byVenture REI, LLC.

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Peoria: This 1,851 square foot 3 bedroom/2 bath is listed for $250k by New Venture Realty.

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Peoria: This 1,566 square foot 3 bedroom/2 bath is listed for $250k by Keller Williams Realty Professional Partners.

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About Rachell

 

Rachell Pintor | Licensed Realtor with Twins & Co. Realty | Mobile: (602) 574-3438 | Email:  Rachell@TwinsandCompany.com

How’s Your Market Changing? (March)

Spring has sprung and the market is booming! If you’re a seller it’s a great time with many buyers on the look for their new home, and if your a buyer it’s a great time with rates still remaining low (especially compared to historical rates!). Below are some market updates for different cities in the Valley to keep you in the loop on how YOUR property values are changing:

Avondale

In Avondale this month’s average sales price is at $98.58 per square foot. This is down slightly from January but up from February, and is up an average of 8.7% from this time last year. The number of active listings is up from last month, which is what could have caused the slight drop in price per square foot. More houses for sale equals more competition with other listings. The good new for sellers though is that properties are selling quicker with the average days on market at 59 days compared to 62 last month and there are plenty of new buyers coming on the market. Listing success rates dropped a bit this month and are at 80.4% compared to 85.2% last month (this could also be because there are more listings active on the market!). The average sales price is $187,789 with an average size of sold listings being 1,905 square feet.

Chandler

In Chandler this month’s average sales price is at $144.31 per square foot. This is up from both January and February, and is up an average of 6.5% from this time last year. The number of active listings is up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers!  Properties are selling quicker with the average days on market at 76 days compared to 84 last month. Listing success rates are down slightly this month at 76.3% compared to 78.7% last month (most likely because there are more listings on the market!). The average sales price is $312,133 with an average size of sold listings being 2,163 square feet.

Gilbert

In Gilbert this month’s average sales price is at $132.50 per square foot. This has stayed steady within cents each month so far in 2016, and is up an average of 5% from this time last year. The number of active listings is up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still staying steady is great news for sellers! Properties are selling slower with the average days on market at 78 days compared to 72 last month (most likely because there are more listings on the market!) Listing success rates are up this month at 80.1% compared to 75.8% last month which is good news for sellers. The average sales price is $292,434 with an average size of sold listings being 2,207 square feet.

Glendale

In Glendale this month’s average sales price is at $119.94 per square foot. This is up from January and February 2016 so far, and is up an average of 10.6% from this time last year. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers! Properties are selling slightly slower with the average days on market at 65 days compared to 61 last month (most likely because there are more active listings on the market). Listing success rates are up this month at 79.9% compared to 73.6% last month.  The average sales price is $222,247 with an average size of sold listings being 1,853 square feet.

Mesa

In Mesa this month’s average sales price is at $126.86 per square foot. This is up from January and February 2016 so far, and is up an average of 3.9% from this time last year. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers! The average days on market is 76 which is exactly the same as last month. Listing success rates are up this month at 80.7% compared to 76.4% last month. The average sales price is $248.772 with an average size of sold listings being 1,961 square feet.

Peoria

In Peoria this month’s average sales price is at $126.49 per square foot. This is up from February but still down slightly from January, and up an average of 3.7% from this time last year. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers! Properties are selling slower with the average days on market at 76 days compared to 73 days last month (most likely because there are more active listings on the market). Listing success rates are up again this month at 71.3% compared to 68.7% last month which is good news for sellers. The average sales price is $273,607 with an average size of sold listings being 2,163 square feet.

Phoenix

In Phoenix this month’s average sales price is at $146.10 per square foot. This is up from January and February 2016 so far, and is up an average of 8% from this time last year. Properties are selling slower with the average days on market at 81 days, compared to 72 days last month (most likely because there are more active listings on the market). Listing success rates are up this month at 78% compared to 74.4% last month. The average sales price is $273,574 with an average size of sold listings being 1,872 square feet.

Scottsdale

In Scottsdale this month’s average sales price is at $232.91 per square foot. This is down constantly since December 2015, and is also down – 0.7% from this time last year (the only AZ city with negative appreciation right now). One thing with Scottsdale to keep in mind is that they offer a diverse range of property types and prices and not all areas are down. So when looing to buy or sell it’s very important to look at the specific zip code to get accurate information. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still decreasing could be potential bad news for sellers. Properties are selling slightly slower this month with the average days on market at 124days compared to 121 days last month (most likely due to more active listings on the market). Listing success rates are up this month at 67.7% compared to 64%. The average sales price is $656,580 with an average size of sold listings being 2,819 square feet.

Tempe

In Tempe this month’s average sales price is at $151.30 per square foot. This up from last month, and also up an average of 9.8% from this time last year. The number of active listings are up from last month which is good for buyers as there are more choices, but the fact that there are more listings and price per square foot is still increasing is great news for sellers! Properties are selling  slower with the average days on market at 73 days compared to 65 last month (most likely because there are more active listings on the market). Listing success rates this month are down slightly this month at 79.8% compared to 82.2% last month. The average sales price is $287.616 with an average size of sold listing being 1,901 square feet.

Remember

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call/text at 602.574.3438 for more info!

The above statistics are from the March 10th, 2016 Cromford Report.

About Rachell

 

Rachell Pintor | Licensed Realtor with Twins & Co. Realty | Mobile: (602) 574-3438 | Email:  Rachell@TwinsandCompany.com

How’s Your Market Changing? (January)

Now that the holiday season is over we’re about to see a parade of new buyers and sellers come on the market alike. If you’re a seller it’s a great time with many buyers on the look for their new home, and if your a buyer it’s a great time with rates still remaining low (especially compared to historical rates!). In other good news, all major cities in the Phoenix Metro area have appreciated. Below are some market updates for different cities in the Valley to keep you in the loop on how YOUR property values are changing:

Avondale

In Avondale this month’s average sales price is at $99.71 per square foot. This is up from $95.51 last month, and is up an average of 11% from this time last year. The number of active listings is down from last month, and  down almost 30% from last year, which is good news for Avondale sellers. For buyers though this means less properties on the market and possible competition from other buyers, with it being the new year though this can change at any moment as new listings come on. Properties are selling slightly slower with the average days on market at 55 days, which is 1 day more than last month (54 days). Listing success rates dropped a bit this month and are at 84.9% compared to 90.4% last month. The average sales price is $193,039 with an average size of sold listings being 1,936 square feet.

Chandler

In Chandler this month’s average sales price is at $140.77 per square foot. This is up slightly from $140.46 last month, and is up an average of 6.8% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year.  Properties are selling  slower than last month with the average days on market at 73 days, which is 7 days more than last month (66 days). Listing success rates are up this month at 81.2% compared to 68.3% last month. The average sales price is $303,639 with an average size of sold listings being 2,157 square feet.

Gilbert

In Gilbert this month’s average sales price is at $135.25 per square foot. This is up from $134.16 last month, and is up an average of 7.6% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling slower with the average days on market at 71 days, which is 9 days slower than last month (62 days). Listing success rates are up drastically this month at 81.2% compared to 69.4% last month. The average sales price is $306,252 with an average size of sold listings being 2,266 square feet.

Glendale

In Glendale this month’s average sales price is at $114.16 per square foot. This is down slightly from $115.75 last month, but is up an average of 4.4% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling quicker with the average days on market at 54 days, which is 5 days quicker then last month (59 days). Listing success rates are down slightly this month at 82.1% compared to 82.4% last month.  The average sales price is $221,935 with an average size of sold listings being 1,944 square feet.

Mesa

In Mesa this month’s average sales price is at $125.71 per square foot. This is down slightly from $126.17 last month, but is up an average of 7.8% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling slower than last month with the average days on market at 71 days, which is 6 days longer than last month (65 days). Listing success rates are up again this month at 81% compared to 78.2% last month. The average sales price is $245,760 with an average size of sold listings being 1,955 square feet.

Peoria

In Peoria this month’s average sales price is at $131.11 per square foot. This is up from last month’s average of $127.53, and up an average of 6.4% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling slower with the average days on market at 74 days, which is 5 day more than last month (69 days). Listing success rates are up again this month at 84.4% compared to 74.7% last month. The average sales price is $279,394 with an average size of sold listings being 2,131 square feet.

Phoenix

In Phoenix this month’s average sales price is at $143.17 per square foot. This is up from $141.25 last month, and is up an average of 7% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling slower with the average days on market at 69 days, which is 5 days more than last month (64 days). Listing success rates are up this month at 78.5% compared to 71.2% last month. The average sales price is $266,448 with an average size of sold listings being 1,861 square feet.

Scottsdale

In Scottsdale this month’s average sales price continues to make a comeback this month to $249.06 per square foot. This is up from $239.18 last month, and is up 5.4% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling at the same speed with the average days on market at 116 days, which is the same as last month. Listing success rates are up this month at 70.8% compared to 65.6%. The average sales price is $680,681 with an average size of sold listings being 2,733 square feet.

Tempe

In Tempe this month’s average sales price is at $146.39 per square foot. This down from last month’s average of $152.58, but up an average of 2.9% from this time last year. The number of active listings is down again from last month which is good news for sellers as there is less competition on the market, but this could be changing any day now with new listings popping on in the new year. Properties are selling noticeably slower with the average days on market at 78 days, which is 24 day more than last month (54 days). Listing success rates this month are up this month at 73.7% compared to 68.4% last month. The average sales price is $285,756 with an average size of sold listing being 1,952 square feet.

Remember

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call/text at 602.574.3438 for more info!

The above statistics are from the January 3rd, 2016 Cromford Report.

About Rachell

 

Rachell Pintor | Licensed Realtor with Twins & Co. Realty | Mobile: (602) 574-3438 | Email:  Rachell@TwinsandCompany.com

How’s Your Market Changing? (November)

november market update

Below are some market updates for different cities in the Valley to keep you in the loop on how property values are changing:

Avondale

In Avondale this month’s average sales price is at $100.45 per square foot. This is up from $98.47 last month, and is up an average of 13.2% from November 2014. The number of active listings is down from last month, as well as down almost 32% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly slower with the average days on market at 60 days, which is 9 days more than last month (51 days). Listing success rates are down slightly this month at 78.8% compared to 83.9% last month. The average sales price is $193,669 with an average size of sold listings being 1,928 square feet.

Chandler

In Chandler this month’s average sales price is at $141.09 per square foot. This is up from $139.71 last month, and is up an average of 2.6% from November 2014. The number of active listings is on the rise from last month, as well as last year. This means that the market is swinging towards the buyer’s favor and buyer’s will most likely be asking for more seller concessions without as much buyer competition on each property. Properties are selling quicker than last month with the average days on market at 61 days, which is 5 days less than last month (66 days). Listing success rates are down slightly this month at 72.5% compared to 76.7% last month. The average sales price is $296,844 with an average size of sold listings being 2,104 square feet.

Gilbert

In Gilbert this month’s average sales price is at $132.67 per square foot. This is up from $131.59 last month, and is up an average of 7.2% from November 2014.The number of active listings is up from last month, but down 13% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling slightly slower with the average days on market at 67 days, which is 2 days longer then last month (65 days). Listing success rates are down slightly this month at 75.8% compared to 76.8% last month. The average sales price is $298,909 with an average size of sold listings being 2,253 square feet.

Glendale

In Glendale this month’s average sales price is at $121.62 per square foot. This is up from $117.60 last month, and is up an average of 13.2% from November 2014. The number of active listings down from last month and also down 20% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise.. Properties are selling slower with the average days on market at 59 days, which is 9 days more than last month (50 days). Listing success rates stayed steady this month at 80%.  The average sales price is $231,328 with an average size of sold listings being 1,902 square feet.

Mesa

In Mesa this month’s average sales price is at $124.96 per square foot. This is down just cents from $125.38 last month, but is up an average of 4.1% from November 2014. The number of active listings is on the rise from last month, but still down about 4% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling quicker than last month with the average days on market at 59 days, which is 4 days shorter than just last month (63 days). Listing success rates are down this month at 77.5% compared to 79.2% last month. The average sales price is $240,931 with an average size of sold listings being 1,928 square feet.

Peoria

In Peoria this month’s average sales price is at $132 per square foot. This is up from last month’s average of $127.33, and up an average of 11.2% from November 2014. The number of active listings is down this month as well as almost 22% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slower with the average days on market at 70 days, which is 4 days more than last month (66 days). Listing success rates are down this month at 72% compared to 75.7% last month, but up from last years success rate at this time of 67.8%. The average sales price is $293,578 with an average size of sold listings being 2,224 square feet.

Phoenix

In Phoenix this month’s average sales price is at $141.08 per square foot. This is up from $140.53 last month, and is up an average of 6.2% from November 2014.The number of active listings is on the rise from last month, but still down about 12% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling slower with the average days on market at 65 days, which is 5 days more than last month (60 days). Listing success rates are down this month at 74.6% compared to 77.7% last month. The average sales price is $263,821 with an average size of sold listings being 1,870 square feet.

Scottsdale

In Scottsdale this month’s average sales price dropped again to $215.77 per square foot. This is up slightly from $214.21 last month, but is still down 1.9% from November 2014. The number of active listings is on the rise from last month, as well as last year. This means that the market is swinging towards the buyer’s favor and buyer’s will most likely be asking for more seller concessions without as much buyer competition on each property. Properties are selling slower than last month with the average days on market at 127 days, which is 22 day more than last month (105 days). Listing success rates are up this month at 67.6% compared to 64.4%. The average sales price is $593,804 with an average size of sold listings being 2,752 square feet.

Tempe

In Tempe this month’s average sales price is at $148.79 per square foot. This down just cents from last month’s average of $148.81, but up an average of 10.3% from November 2014. The number of active listings is up from last month, but down 5% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling slightly quicker with the average days on market at 52 days, which is 2 day less than last month (54 days). Listing success rates are up this month at 81.3% compared to 75.2% last month. The average sales price is $272,733 with an average size of sold listing being 1,833 square feet.

Remember

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call/text at 602.574.3438 for more info!

The above statistics are from the October 29th, 2015 Cromford Report.

How is Your Market Changing? (October)

Market Update october

In the past month the Phoenix Metro Area real estate market has still been, as a whole, very stable. Some cities average price per square foot saw very slight drops (Chandler, Gilbert,and Glendale) while some saw slight increases (Avondale, Mesa, Peoria, Phoenix, and Tempe). The biggest change again this month has been in Scottsdale who is not only down from last month, but on average down 6.4% from last year. All other cities are seeing average increases in value of 5.9%-13% from last year.

Below are some market updates for different cities in the Valley to keep you in the loop on how property values are changing:

Avondale

In Avondale this month’s average sales price is at $98.47 per square foot. This is up from $94.81 last month, and is up an average of 13% from October 2014. The number of active listings is on the rise from last month, but still down about 20% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling quicker with the average days on market at 51 days, which is 2 days less than last month (53 days)! Listing success rates are down slightly this month at 83.9% compared to 84.2% last month. The average sales price is $193,304 with an average size of sold listings being 1,963 square feet.

Chandler

In Chandler this month’s average sales price is at $139.71 per square foot. While this is down just cents from $139.97 last month, it is up an average of 6% from October 2014. The number of active listings is on the rise from last month, but still down about 4% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling slightly slower than last month with the average days on market at 66 days, which is 5 days more than last month (61 days). Listing success rates are down slightly this month at 76.7% compared to 81% last month. The average sales price is $302,054 with an average size of sold listings being 2,162 square feet.

Gilbert

In Gilbert this month’s average sales price is at $131.59 per square foot. This is down just slightly from last month’s average of $132.30 per square foot, but up an average of 5.9% from October 2014.The number of active listings is down 3% from last month and down 21% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly slower with the average days on market at 65 days, which is 5 days longer then last month(60 days). Listing success rates are down this month at 76.8% compared to 83.6% last month. The average sales price is $299,230 with an average size of sold listings being 2,274 square feet.

Glendale

In Glendale this month’s average sales price is at $117.60 per square foot. This is down slightly from last month’s average of $119.82, but up an average of 7.8% from October 2014. The number of active listings is slightly on the rise from last month, but down 23% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling quicker with the average days on market at 50 days, which is 5 days less than last month (55 days)! Listing success rates are up just slightly this month at 80.9% compared to 80.1% last month, but up from last years success rate at this time of 73.6%.  The average sales price is $223,116 with an average size of sold listings being 1,906 square feet.

Mesa

In Mesa this month’s average sales price is at $125.38 per square foot. This is up from $123 last month, and is up an average of 9.2% from October 2014. The number of active listings is on the rise from last month, but still down about 11% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling quicker than last month with the average days on market at 63 days, which is 1 days shorter than just last month (64 days). Listing success rates are up this month at 79.2% compared to 77.6% last month. The average sales price is $242,232 with an average size of sold listings being 1,932 square feet.

Peoria

In Peoria this month’s average sales price is at $127.33 per square foot. This is up from last month’s average of $124.64, and up an average of 12.1% from October 2014. The number of active listings is on the rise from last month, but still down about 21% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling slightly slower with the average days on market at 66 days, which is 2 days more than last month (64 days). Listing success rates are down this month at 75.7% compared to 76.7% last month, but up from last years success rate at this time of 71.3%. The average sales price is $267,519 with an average size of sold listings being 2,101 square feet.

Phoenix

In Phoenix this month’s average sales price is at $140.53 per square foot. This is up just cents per square foot from last month’s average of $140.08, and up an average of 8% from October 2014.  The number of active listings is on the rise from last month, but still down about 12% from last year. This means that it’s still currently a sellers market as listings are still down from last year, but if more listings continue to come on the market it could easily swing in the buyer’s favor. Properties are selling slightly quicker with the average days on market at 60 days, which is 3 days less than last month (63 days). Listing success rates are up slightly this month at 77.7% compared to 77.3% last month. The average sales price is $260,402 with an average size of sold listings being 1,853 square feet.

Scottsdale

In Scottsdale this month’s average sales price dropped again to $214.21 per square foot. This is down from last month’s average of $219.42, and also down 6.4% from October 2014. The number of active listings is on the rise from last month, and last year. There are 6% more homes on the market this month compared to last. Properties are selling quicker than last month with the average days on market at 105 days, which is 5 day less than last month (110 days). Listing success rates are up this month at 64.4% compared to 76% last month but up from 60.4% last year. The average sales price is $568,720 with an average size of sold listings being 2,655 square feet.

Tempe

In Tempe this month’s average sales price is at $148.81 per square foot. This is up from last month’s average of $147.17, and up an average of 9.1% from October 2014. The number of active listings is down 10% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 54 days, which is 2 day less than last month (56 days). Listing success rates are down this month at 75.2% compared to 78% last month. The average sales price is $274,996 with an average size of sold listing being 1,848 square feet.

Remember

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call/text at 602.574.3438 for more info!

The above statistics are from the October 1st, 2015 Cromford Report.

How Do Phoenix Home Prices Stack Up?

We all know that property values in the Phoenix Metro Area have been going up, which is good for those of us who own but makes it harder for first time home buyers to get into the market. One thing many people DON’T realize though is how affordable existing homes really are here in Arizona. The median sales price nation wide is $228,000 compared to the Phoenix Metro average of $217,900. Pretty awesome right? Another thing most people don’t think about is we are the 14th most populated Metropolitan in the whole country. Let’s compare Phoenix prices to some other metro area medians:

San Francisco, CA Metro Area: $841,600

New York, NY Metro Area: $473,200

Los Angeles, CA Metro Area: $445,200

Boston, MA Metro Area: $414,600

Washington DC Metro Area: $403,800

Seattle, WA Metro Area: $385,300

Miami, FL Metro Area: $289,900

Philadelphia, PA Metro Area:$231,700

Chicago, IL Metro Area: $230,500

Minneapolis, MN Metro Area: $229,200

Houston, TX Metro Area: $221,100

Phoenix, AZ Metro Area: $217,900

Dallas, TX Metro Area: $215,200

Atlanta, GA Metro Area: $181, 500

Detroit, MI Metro Area: Data not available

Looking at the data above there are only three metro areas that have more affordable housing. I would say overall we have it pretty good in Phoenix as far as home prices go!

The above data is from the NAR (National Association of Realtors) 2015 Quarter 2 Median Existing Single Family Homes Report)

How is Your Market Changing? (September)

Market Update September 2

In the past month the Phoenix Metro Area real estate market has been, as a whole, very stable. Some cities average price per square foot stayed exactly the same as last month (Mesa and Tempe), some saw very slight drops (Avondale and Chandler), and some saw slight increases (Gilbert, Glendale, Peoria, and Phoenix). Scottsdale is the city that had the most significant change with a 6% average price per square foot decrease from August to September.

Below are some market updates for different cities in the Valley to keep you in the loop on how property values are changing:

Avondale

In Avondale this month’s average sales price is at $94.81 per square foot. While this is down slightly from $96.19 last month, it is still up an average of 7.7% from September 2014. The number of active listings is down almost 30% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling quicker with the average days on market at 53 days, which is 4 days less than last month (57 days)! Listing success rates are down slightly this month at 84.2% compared to 89.2% last month. The average sales price is $196,439 with an average size of sold listings being 2,072 square feet.

Chandler

In Chandler this month’s average sales price is at $139.97 per square foot. While this is down slightly from $141.32 last month, it is up an average of 5.3% from September 2014. The number of active listings is down 9% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly slower than last month with the average days on market at 61 days, which is 3 days more than last month (58 days). Listing success rates are the same this month as last at 81%, but up from last years success rate of 69.1%. The average sales price is $298,724 with an average size of sold listings being 2,131 square feet.

Gilbert

In Gilbert this month’s average sales price is at $132.30 per square foot. This is up from last month’s average of $129.75 per square foot, and up an average of 3.5% from September 2014.The number of active listings is down 11% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 60 days, which is 16 days less than last year at this time (63 days)! Listing success rates are down this month at 83.6% compared to 88% last month. The average sales price is $289,078 with an average size of sold listings being 2,185 square feet.

Glendale

In Glendale this month’s average sales price is at $119.82 per square foot. This is up from last month’s average of $114.59, and up an average of 14% from September 2014. The number of active listings is down 20% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly slower with the average days on market at 55 days, which is 1 day more than last month (54 days) but still 13 days quicker than this time last year! Listing success rates are just slightly lower this month at 80.1% compared to 82.2% last month, but up from last years success rate at this time of 75.6%.  The average sales price is $232,088 with an average size of sold listings being 1,937 square feet.

Mesa

In Mesa this month’s average sales price is at $123 per square foot, which is essentially the same as the August average of $123.65. This is up an average of 6.1% from September 2014. The number of active listings is down 14% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling quicker than last month with the average days on market at 60 days, which is 4 days shorter than just last month (64 days) and 13 days less than spring (May 7 days) this year! Listing success rates are up this month at 77.6% compared to 76.3% last month, but up from last years success rate at this time of 74.2%. The average sales price is $240,720 with an average size of sold listings being 1,957 square feet.

Peoria

In Peoria this month’s average sales price is at $124.64 per square foot. This is up from last month’s average of $120.14, and up an average of 5.3% from September 2014. The number of active listings is down 21% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling  quicker with the average days on market at 64 days, which is 2 days less than last month (66 days) and 23 days less than spring (May 87 days) this year! Listing success rates are down this month at 76.7% compared to 80.4% last month, but up from last years success rate at this time of 72.8%. The average sales price is $270,341 with an average size of sold listings being 2,169 square feet.

Phoenix

In Phoenix this month’s average sales price is at $140.08 per square foot. This is up from last month’s average of $138.74, and up an average of 6.8% from August 2014. The number of active listings is down 18% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 63 days, which is 4 days less than last month (67 days). Listing success rates are down slightly this month at 77.3% compared to 80.8% last month. The average sales price is $265,878 with an average size of sold listings being 1,898 square feet.

Scottsdale

In Scottsdale this month’s average sales price is at $219.42 per square foot. While this is down from $232.39 average per square foot in August, it is up an average of 2.9% from September 2014. The number of active listings is down 5% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling quicker than last month with the average days on market at 110 days, which is 7 day shorter than last month (117 days). Listing success rates are down slightly this month at 64.4% compared to 66.6% last month but up from 60.4% last year. The average sales price is $596,168 with an average size of sold listings being 2,717 square feet.

Tempe

In Tempe this month’s average sales price is at $147.17 per square foot, which is essentially the same as the August average of $147.77. This is up an average of 4.4% from August 2014. The number of active listings is down 13% from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 56 days, which is 1 day less than last month (57 days). Listing success rates are down this month at 78% compared to 86.8% last month, but up slightly from last years success rate of 75%.  The average sales price is $285,512 with an average size of sold listing being 1,940 square feet.

Remember

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call/text at 602.574.3438 for more info!

(The above statistics are from the most recent Cromford Report market snapshots)

What Can $300K Buy You In Different Cities?

Each city in the Phoenix Metro Area has a different average price per square foot. Look below to see what $300K can get you in different cities in August 2015 and where you can get the biggest bang for your buck!

Gilbert: This 2,412 square foot 4 bedroom/2.5 bath + office home was sold for $300K by Realty ONE Group.

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Tempe: This 2,039 square foot 4 bedroom/2.5 bath home was sold for $299K by Keller Williams Realty Phoenix.

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Scottsdale: This 1,376 square foot 3 bedroom/2 bath home was sold for $300K by HomeSmart.

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Phoenix: This 2,050 square foot 3 bedroom/2 bath home was sold for $301K by Agenor Partners Realty.

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Peoria: This 2,984 square foot 4 bedroom/2.5 bath + den and loft home was sold for $300K by Century 21 Arizona Foothills.

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How is Your Market Changing? (August)

August Market UpdateWould you put money into the stock market and not track your investment? Probably not! For many of us our home is our number one investment/asset, yet we don’t track the value of our homes like we would other investments( Zillow “Zestimates” don’t count!). Even if you’re not planning to sell, it’s important to know how the current real estate market is effecting your property values. It’s also important to remember that the real estate market is cyclical and that values will go up and down. By knowing the current market conditions you can better plan when to buy or sell to get the most for your money!

Below are some market updates for different cities in the Valley to keep you in the loop on how property values are changing:

Avondale

In Avondale this month’s average sales price is at $96.19 per square foot. This is up an average of 7.4% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling quicker with the average days on market at 50 days, which is 14 days less than last month (64 days)! Listing success rates are up this month at 89.2% compared to 81.9% last month. The average sales price is $184,500 with an average size of 1,918 square feet.

Chandler

In Chandler this month’s average sales price is at $141.32 per square foot. This is up an average of 4.9% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling quicker with the average days on market at 58 days, which is 9 days less than just last month (67 days)! Listing success rates are down slightly this month at 81.5% compared to 85.4% last month, but up from last years success rate of 70.6%. The average sales price is $316,275 with an average size of 2,238 square feet.

Gilbert

In Gilbert this month’s average sales price is at $129.75 per square foot. This is up an average of 3.6% from August 2014.The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 63 days, which is 1 days less than last month (64 days) and 15 days less than spring (April 78 days) this year! Listing success rates are up this month at 90% compared to 82% last month. The average sales price is $301,935 with an average size of 2,327 square feet.

Glendale

In Glendale this month’s average sales price is at $114.59 per square foot. This is up an average of 6.3% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 54 days, which is 1 days less than last month (55 days) and 20 days less than spring (April 74 days) this year! Listing success rates are about the same this month at 82.2% compared to 82.9% last month, but up from last years success rate of 74.1%.  The average sales price is $220,009 with an average size of 1,920 square feet.

Mesa

In Mesa this month’s average sales price is at $123.65 per square foot. This is up an average of 7% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling just slightly slower than last month with the average days on market at 64 days, which is 1 day longer than last month (63 days) but 9 days less than spring (April 75 days) this year. Listing success rates are down slightly this month at 77.8% compared to 82.7% last month, but up from last years success rate of 72.9%. The average sales price is $244,464 with an average size of 1,977 square feet.

Peoria

In Peoria this month’s average sales price is at $120.14 per square foot. This is up an average of 2% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling much quicker with the average days on market at 66 days, which is 17 days less than last month (83 days) and 24 days less than spring (April 90 days) this year! Listing success rates are down this month at 80.5% compared to 87.9% last month, but up from last years success rate of 70.4%. The average sales price is $270,317 with an average size of 2,250 square feet.

Phoenix

In Phoenix this month’s average sales price is at $138.74 per square foot. This is up an average of 5.9% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 67 days, which is 3 days less than last month (70 days) and 7 days less than spring (April 74 days) this year! Listing success rates are up this month at 80.8% compared to 78.3% last month. The average sales price is $261,665 with an average size of 1,886 square feet.

Scottsdale

In Scottsdale this month’s average sales price is at $232.39 per square foot. This is up an average of 7.7% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition of other buyers and possible multiple offer situations could arise. Properties are selling just slightly slower than last month with the average days on market at 117 days, which is 3 day longer than last month (114 days). Listing success rates are up this month at 66.6% compared to 63.3% last month and 58.8% last year. The average sales price is $676,493 with an average size of 2,911 square feet.

Tempe

In Tempe this month’s average sales price is at $147.77 per square foot. This is up an average of 5.2% from August 2014. The number of active listings is down from last year, which means it would be a good time to sell with less competition from other active listings. If you’re a buyer though, properties could be a little harder to find with more competition from other buyers and possible multiple offer situations could arise. Properties are selling slightly quicker with the average days on market at 57 days, which is 5 days less than last month (62 days) and 9 days less than spring (April 66 days) this year! Listing success rates are down slightly this month at 86.8% compared to 87.2% last month, but up from last years success rate of 76.9%.  The average sales price is $290,820 with an average size of 1,968 square feet.

In Review

Above are just the “average” statistics for each city, not specifics of any property or zip code. If your city is not included in my market update, let me know and I’ll be sure to send you your update and add your city in future posts! I’ll be doing a monthly market update, so make sure to check back in to see how your property values are changing or when a good time to buy or sell would be. If you would like more specific information on the value of your home, I’m happy to set up a consultation to go over a comparative market analysis specific to your property. You can email me at Rachell@TwinsAndCompany.com or call at 602.574.3438 for more info!

(The above statistics are from the most recent Cromford Report market snapshots)