Median Sale Price up $20,000 over March 2017...17% of Sales are Closing Over Asking Price

For Buyers: The percentage of seller concessions awarded to buyers has dropped down to 24% in the first quarter of 2018 after 2.5 years of consistently landing between 26%-28%, yet another indicator of dwindling buyer negotiating power in a prolonged supply shortage. The highest percentage of closings with seller concessions in the last 30 days were sale prices between $150K-$250K at 30-36%. Buyers were most likely to get closing costs in Youngtown at 54%, followed by Buckeye at 52%. Cities with the smallest percentage of closing costs were in affluent and retirement areas such as Paradise Valley, Sun City West and Sun Lakes at 2-3%. For Sellers: The percentage of successful sales over a

Market Summary for the Beginning of March

Starting with the basic ARMLS numbers for March 1, 2018 and comparing them with March 1, 2017 for all areas & types: Active Listings (excluding UCB): 16,924 versus 19,648 last year - down 13.9% - and down 1.7% from 17,211 last month Active Listings (including UCB): 21,474 versus 24,269 last year - down 11.5% - but up 1.2% compared with 21,209 last month Pending Listings: 7,158 versus 7,194 last year - down 0.5% - but up 18.5% from 6,041 last month Under Contract Listings (including Pending, CCBS & UCB): 11,708 versus 11,815 last year - down 0.9% - but up 16.6% from 10,039 last month Monthly Sales: 7,017 versus 6,520 last year - up 7.6% - and up 14.4% from 6,212 last month Monthly Average Sal

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TO CONTACT OUR TEAM PLEASE CALL OR EMAIL US:

CRESTMARK REALTY GROUP

RAEGEN JOHNSON

Realtor

C:  602.330.5362

O:  602.362.5484

E: Raegen@RaegenJohnsonGroup.com

SARAH HERR

Realtor

C: 602.499.3175

O: 602.362.5484

E:Sarah@RaegenJohnsonGroup.com

JULI FEINBERG

Broker

O: 480-342-8889

E: Julif@jclam.com

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