Maricopa County Real Estate Report€¦ · Sellers can’t afford to get cocky about the value of...

Information gathered from ARMLS on 11/2/2016 unless otherwise noted. Includes all Maricopa County and other areas serviced by ARMLS.

Maricopa County Real Estate Report:A Monthly Overview of Market Statistics

October 2016

Courtesy of Realty ONE Group

1 in 7 Home Sales involved a Realty ONE Group Agent last month!

Courtesy of Realty ONE Group

Total Sales 10/1-10/31 7,104Total Cash Sales 1,511Total Conventional 3,510Total FHA 1,495Total VA 527

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30 Year Fixed (Con) 3.59%15 Year Fixed (Con) 2.90%30 Year FHA 3.40%Jumbo Loan 3.75%5/1 ARM 2.90%

Courtesy of Realty ONE Group

Rates as of 11/2/2016

Provided by Mortgage News Daily

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* Reflects ALL active inventory as of month end, not just newly listed properties.

Courtesy of Realty ONE Group * Reflects date that status changed to pending or UCB

Courtesy of Realty ONE Group

Courtesy of Realty ONE Group

Courtesy of Realty ONE Group

$284,200Average Sales Price

Courtesy of Realty ONE Group

74ADOM

as of 10/31/2016

Courtesy of Realty ONE Group

Last Month Last Year

Active Listings 4.3% 1.2%

Pending Listings 1.3% 7.2%

Sold Listings 4.2% 10.9%

Average Days on Market 2.7% 1.4%

Average Sales Price 1.1% 7.4%

Sellers:Active inventory continues to increase while the number of homes that

went under contract and sold dropped (again) from September. Home values saw a small positive bump, but they have not increased significantly in nearly 18 months. Price your home in alignment with other sales in your neighborhood. Sellers can’t afford to get cocky about the value of their home…it could cost you a successful sale!

Buyers: Multiple offers are common for homes under $200K. Thankfully, the

majority of sellers are “traditional” sellers and are more agreeable to making inspection repairs and accepting contingencies. Interest rates saw a little increase this month. Time to get off the fence and secure a good rate!!

Courtesy of Realty ONE Group

I hope you have found this report beneficial. Although it provides a general overview of the market, it won’t take the place of a knowledgeable real estate professional.

Please contact me for area-specific market data or for information about buying or selling a home.

Courtesy of Realty ONE Group