Phoenix Arizona Real Estate Market Update September 2017

October 4, 2017

Phoenix Arizona Real Estate Market Update September 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.

“As usual for the Fall, the Phoenix real estate market is cooling down a bit along with the weather. Calibrations are occurring after big price jumps in the spring, with average sold price, number of new listings, and new closings all dipping from August to September 2017.  Looking at the bigger picture, changes from a year ago, number of new and accumulated listings are down 4.9% and 4.5%, respectively, with the number of September closings holding steady and average sold price up 4.3% from a year ago, at $294,500.

Biggest equity gains in the last year have been seen in the smallest home size categories. Homes in the 1000-1999 square foot size range have come up 7.4% in price per square foot from a year ago, and account for more than all other size categories combined in terms of number of homes sold and listed (approximately 54%).  On the other end of the spectrum, homes in the 4000-4999 square foot range are down 0.9% for average sold price per square foot from a year ago, and only make up 2-3% of MLS transactions.  Overall it’s still a seller’s market for most homes up to 3000 SF, then turns into more of a buyer’s market with increasing size and price range.” Data Source:  ARMLS

-Beth Cheney Cox, UBG Market Analyst
Phoenix AZ Market Update Sept 2017

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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