Phoenix Arizona Real Estate Market Update July 2017

July 28, 2017

Phoenix Arizona Real Estate Market Update July 2017

Of course, our Queen Creek Real Estate market varies slightly from the Phoenix Housing 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.

“June 2017 market numbers are encouraging, yet again!  Closings last month kept right on pace with May, and June’s 9528 sold properties were 6.4% higher than June 2016 units.  Not surprisingly, we’ve seen another significant jump in the average sold price, to just under $305,000.  This marks a 1.4% jump from May’s average sold price, up nearly 8% from a year ago.  Homes that closed in June 2017 were only on the market an average of 48 days, another record low for recent years.  Buyers are decisive and motivated, and still feeling the squeeze of low supply and high demand.  Historically both new sellers and new buyers enter the market at a slower pace for the second half of the year while prices flatten out or even dip a little, but 2017 is on track to buck that trend.  Interest rates have receded again, hovering just above 4% for a 30 year fixed loan.  We have a healthy market and it’s a great time to buy or sell!  Check with your experienced agent for your local market stats if you’re thinking of making a move. ”

Raw Data Source:  ARMLS

-Beth Cheney Cox, UBG Market Analyst

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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!

Karen Berg and April Anderson

United Brokers Group
21321 E Ocotillo Rd F113
Queen Creek, AZ 85142

 

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