Extraordinary AZ Real Estate Market!

I cannot stress enough how unusual the active listing counts look this year, collapsing after hitting a peak at the beginning of March. In February it looked like we would have far more supply than last year but the situation has changed dramatically since then. All 17 cities swung in favor of sellers over the last month. We have no city below 150 and 7 above 200. This is extraordinary. 3 cities improved by more than 20% and another 9 improved by more than 10%. Buyers may be liking the interest rates, but the lack of available inventory is a nightmare for them. No doubt many will turn to the new home market which has seen surprisingly stable pricing under these circumstances. The average cha

LOWEST Number of New Listings Posted in at Least 18 Years...Contracts in Escrow Up Over 15%!

For Buyers: It’s slim pickings for buyers in Greater Phoenix these days unless your budget is over $500,000. Overall supply is 14% lower than last August while contracts in escrow are 15.5% higher! There are a plethora of zip codes considered “frenzies”, where there are literally more properties under contract than there are active for sale; all of them with an average sale price below $400,000. This is unusual for August, which is typically a much softer month. Buyers will have a slightly easier time in more expensive areas such as Central Phoenix, Ahwatukee, South Tempe and the Northeast Valley, but not much unless they’re willing to go further out or increase their budget. Any projec

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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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