Fountain Hills market trends for July 2015 are showing we are now in a Seller’s market. The last report I prepared in May ( sorry I missed June) was showing that we were in a buyer’s market. 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. When you are ready to make a move there is no better time than the present. Sales have been brisk this summer and been seeing a significant decrease in supply since May which is contributing to our seller’s market. The demand for housing is not any higher than normal but the low inventory is running up prices and causing bidding wars.
We now have 5.1 months of housing inventory compared to 9.0 in May. We had 86 sales this month which is 32 more sales than in May. The average days on the market is 168 which is a higher than in May where we were averaging 125 days on market. Our annual appreciation is about .04%, you can see the market has stabilized, two years ago we were seeing an annual appreciation of 22.6%.
This is a great time for sellers , but that doesn’t mean put any price on your home and it will sell. Price it right, highlight your home’s best features with staging, paint if needed, clean up your yard, clean carpets, wash your windows and fix anything that needs repair, and it should sell pretty quickly.
If you want to talk real estate, contact me at 480 888 6708 or email and I will get back to you asap.