Mortgage Payments Drop $50 per Month on a Median Priced Home…ListingsUnder Contract Up 19% in 5 Weeks!

By | General, Market Conditions, New home in Gilbert, Real Estate Market Conditions

Buyers got a break last month as 30-year mortgage rates dropped significantly from an average of 4.41% to 4.08%, which is the lowest they have been since January 2018.  On a $267,000 home (the median sales price in Greater Phoenix) the drop equated to nearly $50 per month in savings on principal and interest, which… Continued

April 10, 2019

List Price Reductions up 24% in Greater Phoenix, Up 42% in Some Areas

By | Downtown Gilbert, General, Market Conditions, New home in Gilbert, Real Estate Market Conditions, Real Estate Tips

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… Continued

February 12, 2019

Seller Concessions Spike on Listings Sold Between $200K-$250K…Price Reductions up 27% on Active Listings Between $250K-$400K

By | General, Market Conditions, Real Estate Market Conditions

For Buyers October marks the 4th month in a row that supply has continued to rise between $200K – $400K, which is good news for many buyers as it provides them with more choice and fewer competing offers.  However, for those buyers with budgets under $200K, this trend in supply doesn’t apply to them and… Continued

October 11, 2018