How’s the Market? Here is the October 2017 West Valley Market Report. Happy Fall Y’all!! Cooler Temps have heated up our Market! Maricopa County had an increase in sales over last year of 4.3% with a median sales price increase of 6.57%. West Valley cities that had the largest increase was Buckeye at 43% increase over last year, Litchfield Park 33.3%, Peoria 6.7%, Goodyear 6.3% and Phoenix 3.9%. All other cities reported slight decreases were Avondale -16%, Surprise -7.3% and Glendale -4.1%.
Inventory levels remain low as New listings taken are much less compared to 2016 numbers in Avondale, Glendale, Peoria, Goodyear and Surprise. Although Litchfield Park 23.5%, Buckeye 15.7% and Phoenix 2.4% reported an increase over last year.
As we head in to the Holidays it will be interesting to see how this Real Estae market ends in 2017. Typically the last quarter of the year is a strong selling season, with the increase in winter visitors however pending sales are down significantly in all west valley cities compared to last year. Avondale -26.9%, Buckeye -12%, Glendale -23.3% Goodyear -27.4%, Litchfield Park —28%, Peoria -16.8%, Phoenix -25.6%, Surprise -12.4% and Maricopa County -26.1%. It will be interesting to see how November pans out. Will we see home prices drop? Will the Pending sales increase to hold prices steady? Stay tuned.
Thinking about selling? Give us a call for a Free Market Analysis. Thinking about buying? We have a dedicated team of Buyer Specialists ready to help you step by step find your dream home.
Click to enlarge
Tags: Buyers, Market Condition, Market Reports, Sellers
