List Price Reductions up 24% in Greater Phoenix, Up 42% in Some Areas
For Buyers: A weak 4th quarter for sales in 2018 has resulted in 11,874 price reductions in the first 5 weeks of 2019. That’s 24% higher than this same time last year. Price reductions on listings between $200K-$500K specifically are up 40%. The most notable price range with a 42% increase is $200K-$250K. This may come as a surprise to some because this price range is below the median sales price of $263K. However this area is currently a battleground of competition betwe
Market Summary for the Beginning of February 2019
Starting with the basic ARMLS numbers for February 1, 2019 and comparing them with February 1, 2018 for all areas & types: Active Listings (excluding UCB): 19,040 versus 17,211 last year - up 10.6% - and up 9.8% from 17,339 last month Active Listings (including UCB): 22,655 versus 21,209 last year - up 6.8% - and up 13.8% compared with 19,900 last month Pending Listings: 5,012 versus 6,041 last year - down 17.0% - but up 34.0% from 3,740 last month Under Contract Listings (in
