Over the last few weeks, some positive trends have given sellers’ encouragement. If you follow our market index you’ll notice that over the last couple of market updates it has been ticking upwards, whereas over the last month or so it had been doing the opposite.
It seems as though the pace of new residential listings hitting the market has slowed, which is of course favorable to sellers as they have less competition to deal with. At the same time, demand does not seem to be slowing. This is particularly true in parts of the valley where the $250k and under homes are to be found.
Phoenix, Avondale, Glendale, Mesa, Gilbert, Surprise, Peoria, and Buckeye have all seen 2-7% rise toward a seller’s market over the last month.
Unfortunately, a few areas have seen the opposite trend and are actually, contrary to the metro area averages, pacing downward towards buyer markets, and quickly at that. Tempe, Fountain Hills, and Paradise Valley have seen slopes of 11-16%.
All real estate is local, and the market is always moving. For personalized info for your home in your neighborhood, we are always here!