Supply Continues to Rise in the Middle... Seller Price Reductions up 46% and 61% in these Price Rang

For Buyers: Overall supply is down 9.6% compared to last September. At first glance that’s nothing new. However, for those of you who pay close attention to our monthly infographic (I know you’re out there), you have no doubt noticed that last May supply was down 15.5%, June supply was down 12.2%, July was down 11.1% and August was down 9.9% from last August. What this means for buyers is that the Greater Phoenix market is still in short supply, but it’s subtly becoming less bad. Most significantly, supply continues to increase between $200K-$400K. Last month we reported an 8.1% increase in listings between $200K-$250K since May, that is now 9.7%. Between $250K-$300K, supply has risen

Market Summary for the Beginning of September

Starting with the basic ARMLS numbers for September 1, 2018 and comparing them with September 1, 2017 for all areas & types: Active Listings (excluding UCB): 16,222 versus 17,486 last year - down 7.2% - but up 3.4% from 15,686 last month Active Listings (including UCB): 19,831 versus 21,355 last year - down 7.1% - but up 2.1% compared with 19,415 last month Pending Listings: 5,262 versus 6,002 last year - down 12.3% - and down 6.9% from 5,655 last month Under Contract Listings (including Pending, CCBS & UCB): 8,871 versus 9,871 last year - down 10.1% - and down 5.5% from 9,384 last month Monthly Sales: 8,230 versus 8,252 last year - down 0.3% - and down 3.7% from 8,548 last month Monthly Ave

2018 Client Appreciation Event at the Sugar Bowl

Our clients are the most important part of our business! We truly appreciate their support and kind words! We are never too busy for their referrals and will provide the highest level of service.

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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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