Welcome back and thank you for joining us for another edition of What's Up Southeast Valley.
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The Greater Phoenix area ended the 1st Quarter 13 percent lower in supply, which was not helped by a 2 percent decline in new listings entering the market. Supply under $200,000 is down 36 percent. Buyer competition is typically at it’s strongest at this time of year and is expected to taper off seasonally in May or June.
Despite the competitive, fast appreciating environment, more sellers decided not to list their home on the MLS. Instead, many chose to sell to an investor. This is ironic, considering MLS sales in that price range sell for 12 percent more per square foot on average compared to non-MLS sales. The annual average sales price per square foot rose faster for MLS sales in this range at 7.9% while non-MLS sales rose only 6.0% over the last year.
If you’re in the process of looking for a new home there might be some you have missed...
Here are a few reads we thought you might enjoy...
None of this is possible without our amazing clients. We'd love to help you or someone you love if we haven't already - or help you again!
Here are the buyers and sellers who made big moves last month.
Serenity at Fulton Ranch | 4777 S. Fulton Ranch Boulevard in Chandler, AZ 85248
Have somewhere you are excited to be next month, a story we just have to read, or an idea for an upcoming newsletter topic?
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