Sales in the greater Phoenix area were up 49% vs 2008 for October as the market appears to be turning the corner (at least bottoming out)! If you are "thinking" about buying a home now may be the perfect time with rates still at historical lows, prices are down and supply up. . There are currently around 32,582 homes and condo's for sale in Phoenix, which is roughly a 4.2 months' supply. The average cummulative days a home stays on the market before it sells is now 152 (last year it was 148 days).
Prices are actually going up slightly on homes under $200,000 . . . the best bargains are the $500,000+ homes as there is still downward pressure on the higher end properties!
Total 2008 sales UP 7% in units vs 2007 / the average sales price for the year was $254,641 down 24% / average $$ per square ft was $127.30 . I could overwhelm you with statistics, yet it all boils down to "It's a Buyer's Market". . . and I love working with buyers, , . If you are interested in more details, I would be happy to provide you current sales data.
About Bill Drummey, CRS, GRI, ABR, ASP, e-Pro:
I believe the process of buying and selling a home is always about what I can do for you; as a matter of pride I put more time and effort into the process for my clients than I would for myself.
My wealth of business and marketing experience has contributed to my success (which is really my client’s) in residential real estate. As the market continually changes I update my “tools” through education. I currently hold 6 designations 1) ABR – Accredited Buyers Representative 2) GRI – Graduate of Real Estate Institute 3) E-Pro – proficiency on the internet 4) ASP Accredited Staging Professional 5) CRS – Certified Residential Specialist, CNE - Certified Negotiation Specialist.
. . . last but not least, I have been married 31 incredible years to my amazing wife - raising two wonderful children who are now in their mid 20's. I have a variety of interests including sports and theater. I also have a passion for community service, helping out those who are less fortunate; besides being active in the Knights of Columbus, I contribute 5% of my commissions to a charity selected by my clients.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
