Real Estate News

March 7, 2021

Median Sales Price Up 18%, Inventory Down 61%: Luxury Sales Over $3M up 140%.

For Buyers: Yes, it’s still a good time to buy. Is it fun? No.

 

Inventory is down 61% from this time last year and competition among buyers is steep. New listings are not keeping up with demand and the purchase experience can be stressful, disappointing, and heartbreaking; but it’s ...

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Jan. 11, 2021

2020 Broke the Record for Luxury Sales Supply Down 51%, Slim Pickings in 2021

For Buyers:

There were 111,036 new listings added to the Arizona Regional MLS (ARMLS) in 2020, only 38 more than in 2019, while 100,650 sold. As of January 10th, 2021 there were only 6,162 listings still active in the MLS, which is the lowest supply count recorded ...

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Dec. 8, 2020

AZ Housing Market Closing Out 2020 Strong!

There were 10,075 completed sales recorded for single-family and townhouse/condo properties. This is up 15% from November 2019. It is down 10.9% from October, but this is due to the large difference in the number of working days. October 2020 had 22 working days while November had ...

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Oct. 13, 2020

Homes Under Contract Up 36% from this Time Last Year!

For Buyers: A common complaint in the resale market is “there’s nothing for sale”.  However, from July through September, the Realtor® community added 30,340 brand new listings to the Arizona Regional MLS and sold 27,746, leaving just 8,203 remaining listings for sale.  That makes this ...

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Posted in Real Estate News