Phoenix Arizona Real Estate Market Update February 2018
February 9, 2018
Of course, our Queen Creek Real Estate market varies slightly from the Phoenix Arizona Real Estate Market Report, but most of the data is still applicable for our local housing market. The Market Report for Queen Creek and the San Tan Valley Market Report provide a more detailed look at the numbers for our region. Thanks to my amazing colleague, Beth Cox, Lead Market Analyst for United Brokers Group, I am able to provide you with the following information regarding the Phoenix Arizona Housing Market Report.
“February kicks off the busy season in Metro Phoenix real estate, with both buyers and sellers entering the market at a brisk pace from now through June. One of the biggest jumps last month was in the number of new listings, up 64.6% in January from 6,263 to 10,308. February will be an even more popular month for sellers to list, and more homes have historically been listed in March than any other month. That’s good news for buyers who have been frustrated with lack of options, but the same buyers will also experience intense competition in most price ranges.
Overall inventory (Active and Under Contract-Accepting Backups) is just over 20,000 listings, down a significant 8.2% from a year ago and continuing to favor most sellers. Most homes that sell are still going under contract in less than two months, and the average sold price has been steadily climbing, up all the way to $316,234. All signals are go, with both interest rates likely to rise and impact monthly payments and affordability moving forward.” [Raw Data Source: ARMLS]
We are full-time, experienced Realtors working in Queen Creek and the surrounding areas. With decades of East Valley real estate experience under our belts, we are here to answer any questions you may have. Please do not hesitate to reach out to Karen Berg at 602.919.2375 or April Anderson at 480.272.1977.
We’re looking forward to hearing from you soon!
United Brokers Group
21321 E Ocotillo Rd F113
Queen Creek, AZ 85142