Phoenix Arizona Real Estate Market Update November 2017

November 7, 2017

Phoenix Arizona Real Estate Market Update November 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.

“October 2017 saw a nice full 1.0% bump in average sales price, to $297,839.  That’s 4.7% higher than one year ago.  By spring we should be back well above the $300K mark, but we project flat pricing throughout the rest of the year.  Interest rates have dipped back well under 4% for typical 30 year fixed mortgages, so this along with a small upward spike in active listings (typical for this time of year) makes November a great time to buy a home.  Buyer demand (number of closings) slowed by 9.2% last month, and will probably keep slowing through the rest of the year.  So sellers need to be patient.  Days on market ticked down to 48, so sellers and their agents who pass that threshold should consider pricing and marketing strategies to attract buyers.” -Data Source: ARMLS
Phoenix Arizona Real Estate Market Update November 2017 

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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