Things To Do New Years in The Valley!
Looking for a way to ring in 2020...here are some things going on around the Valley!
Single-Family Home Supply Dramatically Down from December 2018 in Many Areas
Single-family supply is down dramatically from this time last year in most locations. Counting active listings without a contract here is what we find: Gilbert - down 50% from 615 to 307 Glendale - down 46% from 574 to 310 Mesa - down 45% from 985 to 539 Chandler - down 40% from 502 to 299 Avondale - down 39% from 147 to 90 Phoenix - down 38% from 3,034 to 1,876 Peoria - down 36% from 637 to 407 Queen Creek - down 33% from 725 to 484 Tempe - down 32% from 195 to 133 Surprise
19% of Homes Sold Over Asking Price 24% of Sellers Agreed to Closing Cost Assistance
For Buyers: Supply shortages created an environment of multiple offers and listings sold over asking price last month. This is especially evident among listings between $125K-$250K where 26% sold over asking price in November compared to the overall percentage of 19% in Greater Phoenix. In a normal market, we would expect 10-15% of listings to be sold over asking price. That statistic may sound hopeless to a buyer who may not have the means or stomach to pay over asking pri