Autumn is in the air and providing a welcome relief from the hot Phoenix summer. Along with the wonderful fall weather came the new Obama health care, government shutdowns and other changes. And the Phoenix real estate market is also seeing changes. Rising inventory and rising interest rates are turning the Phoenix sellers market of the past two years into a more balanced market. While sellers may not see the rise in home values over the next year, buyers are going to see a lot more homes to consider before buying. Overall, we should see a balanced market for both buyers and sellers.
- Overall Home Supply – At the end of September, the total number of Phoenix Homes for Sale for the entire MLS was 22,300. Year over year, this is an increase in housing inventory of 1,537 units or an increase of 7.5%. The number of sold listings for the entire month of September 2013 was 6,354. Based on the September sales, the inventory of active listings represents a 3.5 month supply.
- Local ZIP code of 85224 – The Chandler ZIP code of 85224 shows at the end of September there was a total number of 97 active real estate listings, with the total number of sold listings coming in at 71. In other words: there is about a 1.5 month supply for this popular Chandler ZIP code.
- City of Chandler – If you are looking for a “starter” home in Chandler, inventory remains low. For the entire city of Chandler, the number of active listings for single family homes between 1,200 and 1,500 square feet is 94. The number of sold listings in September came in at 53. THAT means there is about a 1.8 month supply of starter homes in Chandler.
- Phoenix Home Sales – Year-to-date, the Phoenix MLS recorded sales of 68,035 homes – or an average of 7,559 homes per month. That puts the Phoenix market on pace to sell over 90,000 homes for 2013.
Do you need to make a move in the near future? Or are you looking to maximize your selling price? Here at the Thompson Group, our goal is to show you the BEST options for your situation. Give us a call at 480-776-5214 or find us at www.ThompsonGroupAZ.com.