Selling a Home in Phoenix Arizona

Selling a Home in Phoenix Arizona

Phoenix Arizona is Top 5 Seller’s Market

Inventories of Phoenix area for-sale homes in AZ have fallen to record lows. Plus, in some areas Phoenix AZ home prices haven’t experienced large increases as in other places this past year.

The Phoenix area new year started on a positive note, with Phoenix home inventories at record lows and Phoenix MLS list prices holding steady on a year-over-year basis. Whether this shows a continuation of the developing Phoenix housing recovery into next year will depend on a variety of factors, including the strength of the overall economy, the cost and availability of Phoenix metro mortgage credit, consumer expectations regarding future Phoenix housing prices, and the success of continuing efforts to slow the flow of new Phoenix foreclosures in Arizona.

If Phoenix homes for sale inventories remain low — and if Phoenix MLS list prices begin to rise during the next few months, as they did last year — conditions are ripe for additional Phoenix house price appreciation this year. Such gains are likely to be concentrated in markets already well into their recovery process, such as California, Phoenix, Seattle, Washington, D.C., and Florida. Markets in the older industrialized parts of the Midwest and the East will likely continue to struggle without a significant turnaround in their local economies. However, if inventories in these areas remain high, it could effectively set the stage for further declines in housing values in these local markets.

Realtor.com Names Phoenix in Top 5 Best Places to Sell

With the Phoenix AZ home buying season open, Phoenix home sellers have a huge advantage. In tight markets, such as Phoenix in the top five “Best Places to Sell,” Phoenix home sellers benefit from better home MLS listing prices than they’ve seen in years. Realtor.com recently identified the 5 best places to sell this year: Phoenix AZ is in the Best Places to Sell:

1. Sacramento, CA. In recent months, Sacramento has experienced dramatic declines in inventory levels, reporting 67.20 percent fewer homes for sale in January than a year ago. Record low inventories have led to a 40.20 percent increase in median prices, yet demand is strong, with properties spending less than a month on the market. Sellers here can anticipate quick sales and primo prices.
2. San Jose, CA.  Ranking fourth in the nation in terms of tight inventory, supply clearly is not keeping up with demand in Silicon Valley. Prices are up nearly 25 percent compared with this time in 2012 and still climbing, but not as quickly as in Sacramento. The region’s strong economy is driving up both rents and home prices.
3. San Francisco, CA. Prices have risen dramatically, inventories are down drastically and properties are selling in less than two months. The inventory shortage created a powerful sellers’ market where list prices rose more than 20 percent in the past year, a sure sign that sellers can anticipate a profitable spring season.
4. Phoenix-Mesa, AZ.  Once the hottest market for foreclosures, Phoenix alternately became a hub for price increases last year. List prices have increased 23.59 percent since January 2012, and inventories decreased 15.88 percent since a year ago. In recent months, price and supply fluctuations have stabilized, so buyers should be able to find affordable properties if sellers take advantage of the improving price picture and list their homes this year, increasing supply.
5. Washington, DC. List prices have improved a respectable 16.33 percent in the D.C. market during the past 12 months, and one reason is a 30.77 percent decrease in inventory. With a median price of $429,900, D.C. is one of the nation’s priciest markets, and if inventories don’t grow substantially between now and cherry blossom season in March and April, prices will continue to rise. For locals thinking about selling, this looks to be one of the best markets in years.

Phoenix home buying season is here and now, and Phoenix home sellers have gained an advantage in the markets all around The Valley of the Sun this year. With less competition from falling Phoenix homes for sale inventories, MLS list prices have risen in many areas.

Source: Realtor.com

Please feel free to call us at (480) 382-9191 and we can provide you with additional information on all Phoenix Homes. We would love to list your home and get it sold quickly. We can also schedule appointments for you to view any of Metro Phoenix Homes. We look forward to hearing from you and working with you soon!

Our best,
Carl Pepper, Realtor
info@MyOwnArizona.com
www.MyOwnArizona.com
(480) 382-9191

Featured Listing: Libby Street Scottsdale, AZ