June 5 & 6
Welcome Back, Weekend Warriors!
This is the Amy Jones Group's weekly newsletter, detailing local events, recent real estate news, and open houses.
This week, we're bringing you five fun-filled events happening around the Valley!
Our Team is Growing
We are hiring!
Real Estate Professionals
The Amy Jones Group is growing! We are looking for EXPERIENCED agents to join our Southeast Valley team. Known for our excellent client care, exceptional negotiation skills, world class digital marketing, and being trusted advisors in the SE Valley for more than a decade - we are looking for hard working, ethical, creative, real estate professionals who love to learn and thrive in a team environment, where giving back and giving to each other is important to our overall success. For more information on who we are and how to apply, visit:
https://www.amyjonesgroup.com/careers or reply to this post directly!
Email your resumes to - [email protected]
Market Summary for the Beginning of June
Here are the basics - the ARMLS numbers for June 1, 2021 compared with June 1, 2020 for all areas & types:
- Active Listings (excluding UCB & CCBS): 4,917 versus 11,917 last year - down 68.7% - and down 3.2% from 5,080 last month
- Active Listings (including UCB & CCBS): 9,361 versus 17,171 last year - down 45.5% - and down 0.8% compared with 9,439 last month
- Pending Listings: 7,873 versus 7,224 last year - up 9.0% - and up 0.6% from 7,829 last month
- Under Contract Listings (including Pending, CCBS & UCB): 12,317 versus 12,478 last year - down 1.3% - but up 1.1% from 12,187 last month
- Monthly Sales: 9,692 versus 7,045 last year - up 37.6% - but down 5.0% from 10,204 last month
- Monthly Average Sales Price per Sq. Ft.: $248.37 versus $179.79 last year - up 38.1% - and up 2.0% from $243.39 last month
- Monthly Median Sales Price: $390,000 versus $293,000 last year - up 33.1% - and up 4.6% from $373,000 last month
We note that the number of active listings is slightly higher than last month. That is entirely because June 1 fell on a Tuesday while May 1 fell on a Saturday. Saturdays tends to have much higher counts because of all the new listings activated on Thursday and Friday. In contrast, Tuesdays and Wednesdays have the lowest counts every week. If we compare the same day of the week, the number of active listings is up from last month by about 7%. When supply is this low, the signal to noise ratio is poor, so we have to look more closely to get a correct impression. Supply is definitely rising, but not at a rate to help buyers very much, or to raise an alarm. It is rising because new listings are coming along at a faster rate than normal. However most of them are getting offers in the first week and they do not last very long. The market remains very hot even though it has cooled since March.
The demand numbers are moderating, with monthly sales down 5% compared with last month. However listings under contract are up slightly which means the downward trend in demand has stalled for now.
The rate of change in both supply and demand are both now moderate, but the rate of change for prices remains very high. We are seeing appreciation rates of 38% if you use price per sq. ft. or 33% if you use monthly medians. Both of these are flattering because part of the rise is due to high end homes taking a larger share of the market than normal for June. But however you measure them, home prices are at nose-bleed levels and will continue to rise while supply remains dramatically below normal. It is 76% below normal at the moment.
The period since June 2020 has been a painful 12 months for buyers and many are likely to be feeling bruised and beaten up. It would not be surprising if demand weakened further because of this, but withdrawing from the market is unlikely to be wise from a financial perspective. Prices still have a quite a lot of upward momentum and mortgage rates could easily move higher than today. Local buyers need to remember that to a buyer from California or Washington, Phoenix still looks like amazingly good value for money, even after another 20% price hike.
And what is your alternative - rents continue to climb at a steep rate and are unlikely to stop rising. At least if you buy a pricey home today you will benefit from the price growth tomorrow in the form of home equity.
The advantage in any market, not just housing, is being one of the first to know when things are shifting. Especially today, it’s a good idea to consult a Realtor® who can analyze your price point and area so you can make an informed decision regarding the sale of your home.
We’d love the chance to talk more about your current situation and how we can help - even if you aren’t quite sure what your question is, let us catch you up on the market of the moment! We’re so grateful to serve our community through real estate and would love to work with you AGAIN or for the first time!
Have more questions? Give us a call or schedule an appointment below -
Queen Creek Festival
Every Friday at 5:30pm
At AZ FEASTivals, we believe the recipe for a great night is to bring Gourmet Food, Trucks, Live Music, Handmade Local Art and Fun People all together in one place! Food, Art, Music and People are truly what Community is all about With so many Gourmet, Artisan Food Trucks involved, we knew it couldn’t be just a Festival, it needed to be a FEAST-ival! We spend each weekend hosting FEASTivals in Gilbert, Queen Creek and Mesa along with special events on almost a weekly basis throughout the year. Check our Events Calendar to find AZ Food Trucks almost any day year round!
Since we work with almost all of the Food Trucks in the AZ Valley, we use our knowledge of the Trucks, Chefs, Menus and capabilities to assist others with booking the right Food Truck for events and private parties. If you need help finding a Food Truck or Private Chef, we would be happy to help! Complete
the form on the Book a Truck page and we will see how we can help!
Take a look around our website and join in the fun! If you have any questions, visit the Contact Us page to email us! See you at the FEASTival!
Dance Lessons - Mesa
Saturday, June 5th at 9:00 am
Get ready for a super fun-filled day of line dancing! They will have two of the most fun, energetic, and encouraging line dance instructors out there bringing you 4.5 hours of top notch line dance instruction; namely Jamie Miller and Leo Pahuriray! The workshop will cover both beginner and intermediate level dances to be sure it covers something for everyone. The first 2.25 hours will focus more on beginner lessons while the second 2.25 hours will shift to more difficult dances. Don’t worry though because we’ll take time throughout the day to review all the dances we are teaching so they stick!
Line Dance Difficulties: Beginner-Intermediate
Hours: 10 AM- 2:30PM
Location: Scootin’ Boots Dance Hall – 515 N Stapley Dr #103 Mesa, AZ 85203
Cost: $15-full day (10AM-2:30PM) or $10-half day (10-12:15 pm 12:15pm-2:30pm)
Spread the word, bring your friends, and come Scoot your Boots!
Flashlight Nights - Phoenix
Saturday, June 5th at 8:00 pm
Flashlight Nights are nighttime self-guided adventures through the Garden. Nocturnal explorers shine their own flashlights along the trails to capture the night-blooming plants and animals that appear in the desert after dark.
Please bring your own flashlight.
Online reservations are required and are limited to 50 guests every 30 minutes. Last admission is 8:30 p.m.
Please note that social distancing and face coverings will be required.
Drive-in Movies - Wonder Woman
Saturday, June 4th at 7:45 pm
Come out and enjoy a nice evening outside watching a family movie. That's right! The June 5th Drive-In Movie Presented by SRP will be bringing "Wonder Woman 1984" to the big screen at the AJ Rodeo Grounds Event Center. PRE-REGISTRATION FOR THIS EVENT IS REQUIRED! The event is $5 per vehicle and space is limited! Social Distancing guidelines will be in place for the movie. You will be asked to park to the front left of your space and you can exit your car if you prefer and view the movie from the right of your vehicle. We will be playing the movie audio through our sound system speakers and broadcasting it to car radios through station 90.1 FM.
Patrons will have access to the restroom facilities. The movie will start at 7:45pm and gates will open at 7:15pm. The City of Apache Junction Parks & Rec will host this event at the Rodeo Grounds Event Center at 1590 E. Lost Dutchman Blvd. Apache Junction, AZ 85119. In the event of bad weather or high winds prior to movie time, this program could possibly be cancelled or moved to a future date. If the event has to be cancelled, there will be no refunds, however, customers would receive a $5 credit on their account. For more information on this program or other programs and services, please contact the Parks and Recreation Department at 480-983-2181 or visit our website at www.ajcity.net/parks.
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