Fountain Hills market trends for Aug 2015 are showing we are still in a Seller’s market but seller’s are starting to lose that edge, it may be slight but still it is showing a downward trend. The real estate market can change quickly, and that is why I can’t stress enough to buyers and sellers that you can’t time the market. Phoenix is a fast moving market and those clients who come to the area to buy from out of state are usually very surprised by how quickly homes can go under contract. When you are ready to make a move there is no better time than the present. Sales have been extremely brisk this summer and inventory has been low but now we are seeing a significant increase in supply in the last month. We now have 10.5 of supply which is double from last month, but we are still seeing a shortage of single family homes priced under $300,000.
We had 56 sales this month which is 30 less sales than in June The average days on the market is 136 which is a less than in July where we were averaging 168 days on market. Our annual appreciation is about -.01%, you can see the market has pretty much stabilized, two years ago we were seeing an annual appreciation of 22.6%.
If you are interested in learning more about the Fountain Hills area, contact me anytime for more information
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