THERE’S NEVER BEEN A BETTER TIME TO SELL
Despite Covid-19, the metro Phoenix housing market is as hot as the weather in July. If you’re contemplating selling your home, you’re in luck. There has never been a better time due to high demand and low inventory.
The Arizona Regional Multiple Listing Service’s June 2020 report indicates that active listings last month, including properties currently under contract and properties under contract contingent on a buyer sale, totaled 17, 171 compared to 21,799 last year, a 21.2% drop and a 3.9% decrease from May. Monthly sales totaled 7,001 compared to 10,524 last year, down 33.5%, and down 2.5% from 7,181 in May. The monthly median sales price in June was $293,000 versus $278,000 last year, a 5.4% increase.
Coupled with the fact that an estimated 200 people per day move to metro Phoenix, sellers are asking higher prices and getting them. The top five cities from which people are migrating (according to http://Phoenix.gov)are:
1. Los Angeles-Anaheim-Long Beach, Calif.
3. Chicago, Naperville, Elgin, Ill.
4. San Diego-Carlsbad, Calif.
5. Seattle-Tacoma-Bellevue, Wash.
Many homeowners sell their homes for diverse reasons including lifestyle changes such as marriage, divorce and death, and an increase in family size which is the most common reason. Others include a job transfer, the desire for a more upgraded home, retirement, and an owner’s move to a nursing home/assisted living.
If you’re considering buying or selling your home in the coming months, I’m happy to help you with your housing questions including the best time to sell/buy, mortgages, listings, pricing, resources and other information. Please contact me at email@example.com, 480-889-8756 or at https://www.craigmernitz.com.