Our Phoenix Real Estate Market Report – April 2019 lays out the facts in easy to read charts, graphs and a down to earth commentary that helps anyone interested in the Phoenix get a grasp on where the market stands today.
📣 John’s Greater Phoenix Housing Market Predictions April 2019
Buyers Must Be Patient
The writing is on the wall. The housing shortage is real in the Valley of the Sun. The lack of housing is impacting buyer activity. Many of our home buyers are having to be patient as they wait for the properties to cycle through.
Sellers Get Paid
Buyers are not getting stupid in the wake of this shortage. Everyone remembers 2005-2011. No one wants that again. Still, homes in great condition are fetching a premium. Homes that are over-priced or in need of repairs are getting less than they could and taking longer to sell.
Bottom Line Market Thoughts
Those who want to purchase need to be 100% prepared
- Pre Qualified with a local Lender
- Have money saved for down payment and closing costs
- Are working with an agent who knows the market
- Are ready to make strong offers on properties they like.
Those who want to sell shouldn’t leave money on the table
- Do Not sell to an investor or iBuyer (Opendoor, Zillow, Offerpad, etc)
- Make sure your home is pre-inspected and repairs are complete BEFORE going on the market
- Be sure that it is easy for buyers to see your property without a lot of notice
- Work with an agent who knows how to use digital online marketing tactics
🔖 What is the Average Price Per Square Foot
🗓 Months of Supply
⏳ Days on Market
📊 Volume of Annual Sales
🏠 Existing Home Sales for April 2019
🕑 Average Time on Market of Listings in Greater Phoenix for past 5 years
💲 Average List to Close Price
📈 Real Estate Statistics: National Stats
- 32% of homebuyers across US cities were first time home buyers.
- Only 4% of national home sales were those of distressed properties including short sales and foreclosures.
- Cash sales accounted for 23 percent of all residential property purchases.
- 23% of home sellers made contributions to the buyer’s purchase. These include loan fees, closing costs, home warranties, and home improvements/repairs.
🤑 Maricopa County Median Price Range (past 5 years)
Average Sales Price
💰 Average Sales Price for Condos
📆 Months of Condo Inventory Supply in Greater Phoenix
⌚️ Average Time on Market for Condos in Greater Phoenix (over the last 5 years)
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.
Here’s the most recent home listings just added to the database in the average price range for Phoenix.
All homes here are priced at $300,000 or less.
Available Homes in Greater Phoenix Under 300K