For those looking to relieve some pressure from the uncertainty of when to swing their buy-it-now bat and make contact with the house-ball, the number of listings are creeping up again, wouldn’t you know it. (See the brown line in the “Monthly Average Sales Price” chart below).
Why is that, you ask?
Many people who bought prior to 2005 are more comfortable selling now. And investors who bought those record low prices between 2009 and 2011 have renovated and are now selling. This means a little less pressure.
Well, instead of six offers made on any given property within the first 48 hours, there will only be four. I say this slightly tongue in cheek, but really, it may actually take some of the pressure off. If you’ve been feeling like there’s no hope because there are not enough properties for sale, and even when you find one you like enough to make an offer on there are still so many buyers, stay the course and stay strong.
There is hope!
So there are less offers being made, relieving some of the hopelessness, but then what? What’s the next market trend we can expect to follow this one? It’s not a guarantee, but in my professional opinion (based on this price chart, below), I don’t think we’ll get back up to 3,300 available properties like there were this time last year.
For one, the foreclosures and short sales are gone. That alone will keep things competitive, especially in the central corridor and historic neighborhoods.
Just knowing this going into the market will set things up better for your future house purchase. Now, we can plan accordingly. The listings ball is in motion. Let me help you improve your swing. Together, we can hit this one out of the park.
Kenneth “Ken” Clark
REALTOR(r)
At Your Service!
HomeSmart
Ken@GetYourPHX.com
