Living 48 Real Estate Team

It’s that time again for a “What’s Happening In the Market” blog!!! Each and every month I attend a Phoenix and ARMLS (Arizona Regional Multiple Listing Service) Market Update meeting where we review the previous month’s numbers and discuss the trends and seasonal fluctuations we see in the market. This blog is a quick recap of the information we discussed and I invite you to reach out to me with any questions you have or if you want to dive deeper into something. Market Factoids: Supply: 3.5 months - this number is down from the previous month Inventory: 91 days Active Days On Market: 99 days Closed Days On Market: 73 - up from the previous month Active $/SF: $224.64 - down from previous month Sold $/SF: $163.88 - up from the previous month Ave. Sold: $326,049.00 - up from the previous month Median Sold: $261,500.00 - up from the previous month As of the day we pulled the numbers there were 18,942 active listings in the MLS. This number is down by about 1% month over

Discover What Buyers Will Pay in Today's Market It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a home is trickier. As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!). For buyers, it’s important to know a home’s worth before you make an offer. You want your offer to be competitive, but you don’t want to overpay for the property. Even if you’re not a buyer or seller right now, as a current homeowner you might just be curious about the value of your home. Keeping track of your home’s worth year over year helps you understand the trends in your market. So when you are ready to sell, you can take advantage of a good window of opportunity. The good news is, a trained rea