Good news for home buyer’s in Arizona, the hot housing market is cooling down quickly. After 2 years of rapid growth, record sales, and prices rising to record levels, we are finally starting to see a leveling off. In the past 30 days, over 12,000 new residential listings were added in the Greater Phoenix area. It’s a record 34% jump in new listings.
It’s the moment you’ve been waiting for, less competition and more supply in Greater Phoenix! Active supply is up 40% from this time last year, but all that gain has been achieved over the last 6 weeks with an increase of 45%. The market is in the early stage of shifting out of an insane seller market and into a mere frenzy seller market. Before we know it, it could be a regular old hot seller market where properties still appreciate but take multiple weeks to sell.
A new record sale for Paradise Valley closed on April 18th for $21 million. This surpassed the previous Paradise Valley high mark of $20.9 million in October 2020 for a home in the same neighborhood. Situated on one of the most commanding homesites in the Cameldale community, this 15,736-square-foot grand estate sits on 4.27 acres [...]
Arizona Real Estate Sales Statistics Q4-2020 Arizona Real Estate Continues to Set Records as Prices Climb Sales Volume Despite all the challenges, 2020 went down as the year with the 2nd highest number of homes sold, with just 2,471 fewer sales than 2005. Real estate sales are up +8.8% month-over-month for December and +27.4% year-over-year. [...]
Phoenix area home prices are up an average of 10% from this time in 2019, and selling in an average of 10 days, making Phoenix the hottest real estate market in the country. Supply and Demand The issue is simply a matter of supply and demand as inventory remains at record lows down 27.8% [...]
The Arizona real estate market remains HOT despite the coronavirus pandemic sweeping across the state. The inventory of properties listed for sale are exceptionally low with homeowners reluctant to list their homes during the pandemic. This has created a seller’s market and fueled an already robust real estate market in Arizona. Home buyers are finding [...]
There are laboratory tests that can identify the virus that causes COVID-19 in respiratory specimens. State and local public health departments have received tests from CDC while medical providers are getting tests developed by commercial manufacturers. Who should be tested Not everyone needs to be tested for COVID-19. Here is some information that might help [...]
Canada is the number one international employer in Arizona, but it also sends a lot of tourists to the state.According to the Arizona Office of Tourism (AOT), more than 970,000 Canadians traveled to Arizona in 2017. The highest number recorded in the report which goes back to 2012.The number of Canadians traveling to Arizona could [...]
We all know Arizona is the place to be all winter long, but have you ever visited Arizona in the summer? Being from Saskatchewan, I always thought summer in Arizona sounded crazy, who could handle that heat? But living here year-round now, summer has become my favorite time of year. The days are hot but [...]
Maricopa County is booming. For the third straight year, it's the fastest growing U.S. County, according to the U.S. Census Bureau. Now, it's the fourth biggest population in the nation. Jobs, jobs, jobs. According to the Arizona Office of Economic Opportunity, nearly 70,000 non-farming jobs have been added since March of 2018. Experts say that [...]
