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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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 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!

Karen Berg and Keely Semon

United Brokers Group
21321 E Ocotillo Rd C108
Queen Creek, AZ 85142

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