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]
As full-time, experienced Realtors living and working in the areas of Queen Creek and San Tan Valley Arizona, we are always available to answer your questions on neighborhoods with community pools in San Tan Valley, or any other real estate related questions. If you are interested in buying or selling a home in Queen Creek or San Tan Valley Arizona, or if you would simply like a FREE market analysis of your property, then please do not hesitate to contact Karen Berg at 602.919.2375 or Keely Semon at 480.220.1321.
Of course we’d love to help you any time you need to buy or sell, but we’re also here for you any time you have a question about the market. You can also feel free to call if you’re simply curious about the listed or sold price of a house down the street. We’re looking forward to hearing from you soon!