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πŸ πŸ†πŸ† SOLD in 6 Days & Multiple Offers!πŸ†πŸ†πŸ  I would love an opportunity to implement my Marketing Process on your property to get the same results for you! Contact me to see how!
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Posted on May 2, 2019 at 5:11 pm
Eric Karlene | Category: Uncategorized | Tagged , , , , , , , ,

April 2018 – Market Update – MLS Sales Outperform non-MLS Sales in Frenzy Market

MLS Sales Outperform non-MLS Sales in Frenzy Market
Supply Under $200K Down 36% Over Last Year

For Buyers:
Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the market. All price ranges are below last year’s level of supply with the exception of the $1M+ market, which is up 1.5%. On the opposite end of the spectrum, supply under $200K is down 36% from last year and all prices in between are down 10%. Buyer competition is typically at it’s strongest at this time of year and is expected to begin tapering off seasonally in May or June.

For Sellers:
Despite the highly competitive, fast appreciating environment in the $100K-$200K market, more sellers decided not to list their home on the MLS and many chose to sell to an investor instead. This is ironic considering MLS sales in that price range sell for 12% more per square foot on average compared to normal non-MLS sales, which could equate to a $12,000-$22,000 gap. Additionally, 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.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
Β©2018 Cromford Associates LLC and Tamboer Consulting LLC

Posted on April 15, 2018 at 10:18 pm
Eric Karlene | Category: Market Updates - Cromford Reports | Tagged , , , , , ,

April 2018 Market Update – MLS Sales Outperform non-MLS Sales in Frenzy Market

MLS Sales Outperform non-MLS Sales in Frenzy Market
Supply Under $200K Down 36% Over Last Year

For Buyers:
Greater Phoenix ended the 1st Quarter 13% lower in supply, which was not helped by a 2% decline in new listings entering the market. All price ranges are below last year’s level of supply with the exception of the $1M+ market, which is up 1.5%. On the opposite end of the spectrum, supply under $200K is down 36% from last year and all prices in between are down 10%. Buyer competition is typically at it’s strongest at this time of year and is expected to begin tapering off seasonally in May or June.

For Sellers:
Despite the highly competitive, fast appreciating environment in the $100K-$200K market, more sellers decided not to list their home on the MLS and many chose to sell to an investor instead. This is ironic considering MLS sales in that price range sell for 12% more per square foot on average compared to normal non-MLS sales, which could equate to a $12,000-$22,000 gap. Additionally, 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.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
Β©2018 Cromford Associates LLC and Tamboer Consulting LLC

Posted on April 12, 2018 at 8:53 pm
Eric Karlene | Category: Market Updates - Cromford Reports | Tagged , , , , , ,

March 2018 Market Update – Median Sale Price up $20,000 over March 2017

 

Median Sale Price up $20,000 over March 2017
17% of Sales are Closing Over Asking Price

For Buyers:
The percentage of seller concessions awarded to buyers has dropped down to 24% in the first quarter of 2018 after 2.5 years of consistently landing between 26%-28%, yet another indicator of dwindling buyer negotiating power in a prolonged supply shortage. The highest percentage of closings with seller concessions in the last 30 days were sale prices between $150K-$250K at 30-36%. Buyers were most likely to get closing costs in Youngtown at 54%, followed by Buckeye at 52%. Cities with the smallest percentage of closing costs were in affluent and retirement areas such as Paradise Valley, Sun City West and Sun Lakes at 2-3%.

For Sellers:
The percentage of successful sales over asking price is increasing. So far in March, 17% of sales closed over list price, last March it was 14%. Properties sold between $100K-$200K had the highest percentage at 24%, followed by the $200K-$300K range at 18%. The market between $300K-$1M is the most improved with 12% sold over list compared to only 7% last March. There were zero sales over list in the market over $1M. Areas with the highest percentage are El Mirage and Youngtown, both at 50%, followed by Tolleson with 45.5% of sales closing over asking price.

Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report
Β©2018 Cromford Associates LLC and Tamboer Consulting LLC

Posted on March 16, 2018 at 4:41 pm
Eric Karlene | Category: Market Updates - Cromford Reports | Tagged , , , , , , , , ,

Past Successes!

Posted on February 28, 2018 at 7:02 pm
Eric Karlene | Category: Uncategorized | Tagged , , , , , ,