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3 Graphs Showing Why You Should Sell Your House Now

5/12/2021

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3 Graphs Showing Why You Should Sell Your House Now

Is now the right time to sell my East Valley home
There’s no doubt that 2021 is the year of the seller when it comes to the housing market. If you’re a homeowner thinking of moving to better suit your changing needs, now is the perfect time to do so. Low mortgage rates are in your favor when you’re ready to purchase your dream home, and high buyer demand may give you the leverage you need to negotiate the best contract terms on the sale of your house. Here’s a look at what’s driving this sellers’ advantage and why there’s so much opportunity for homeowners who are ready to move this season.


1. Historically Low Inventory
The National Association of Realtors (NAR) explains:

 “Total housing inventory at the end of March amounted to 1.07 million units, up 3.9% from February’s inventory . . . Unsold inventory sits at a 2.1-month supply at the current sales pace, marginally up from February’s 2.0-month supply and down from the 3.3-month supply recorded in March 2020.”
​

Even with a slight rise in the number of houses for sale this spring, inventory remains near an all-time low (See graph below):
What record low housing inventory in Phoenix and the East Valley means for you
High buyer interest is creating a major imbalance between supply and demand, but as the small uptick in inventory shows, sellers are beginning to reenter the market. Selling your house now enables you to take advantage of buyer demand and get the most attention for your house – before more listings come to the market later this year.


2. Frequent Bidding Wars
As a result of the supply and demand imbalance, homebuyers are entering bidding wars at an accelerating rate. NAR reports the average number of bids received on the most recently closed sales is 4.8 offers. This number has doubled since the first quarter of 2020 (See graph below):
6 Tips for choosing the best offer for your Phoenix or East Valley home
As buyers face increasingly tough competition while searching for homes to purchase, they’re more likely to be flexible and generous in their negotiations. This gives a seller the opportunity to choose the best buyer for their needs and be selective about things like time to close, contingencies, renovations, and more. Working with your trusted agent is the best way to determine how to navigate the negotiation process when selling your house.


3. Days on the Market
​
In today’s market, sellers aren’t waiting very long to find a buyer for their house, either. NAR reports:

“Properties typically remained on the market for 18 days in March, down from 20 days in February and from 29 days in March 2020. 83% of the homes sold in March 2021 were on the market for less than a month.” (See graph below):
​

Is this the year to sell my Phoenix AZ home
NAR Chief Economist Lawrence Yun explains:

“The sales for March would have been measurably higher, had there been more inventory…Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.”
​
Bottom Line

​If you’re thinking about moving, these three graphs clearly show that it’s a great time to sell your house. Contact a real estate professional today to learn more about the opportunities in your local area.


If you’re thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. A trusted real estate professional can answer your questions and help you determine your next steps.

Feel free to reach out to me if you have any questions about the home buying process in the East Valley. Just give me a call/text at 602-295-6807 and I will be glad to help.

​​"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving the Phoenix Metro, and East Valley cities including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson Realtor
Troy Erickson Realtor
Troy Erickson Realtor

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Ahwatukee AZ Real Estate Housing Market Report - April 2021

5/9/2021

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Ahwatukee AZ Real Estate Housing Market Report - April 2021

The average sales price of homes in Ahwatukee dropped to $554,827 in April after reaching an all-time high of $561,707 in March.
 
The price per square foot increased for the third straight month, from $229/sf to $240/sf. However, days on market increased in April from 26 to 29 DOM after decreasing the last two months. The DOM is still very, low, which means demand for homes in Ahwatukee is high, and homes are still selling fast.
Ahwatukee Foothills homes for sale | Troy Erickson Realtor
Ahwatukee home sales for April increased to 149 homes sold, a 43.3% increase from April of 2020. I believe a lot of this increase has to due with the slowdown of homes sold early in 2020 due to the COVID-19 pandemic. However, this is also the highest total homes sold in April over the past 3 years, and the highest number of homes sold in Ahwatukee since May of 2019. Even though there has been a lower than normal inventory of homes for sale, homes that are listed are obviously selling fast, and for more money.
 
The number of new listings slightly decreased from 154 last month to 153 for April, but is a 15.0% increase of new Ahwatukee listings from April of last year. This shows that we still have fewer homes for sale, which increases competition. At 223, the number of active listings still remains significantly lower than in April of last year, at -28.5%. We simply need more listings due to the high demand from buyers.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Ahwatukee have increased an average of 19.9% since April of 2020, which is amazing growth. With interest rates hovering below 3.0%, the demand from buyers looking to purchase should remain high early in 2021, which is typically not the case for this time of year.
​
>>Click Here To See All Current Ahwatukee Arizona Homes For Sale<<

​For more detailed stats on the Ahwatukee Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Ahwatukee Foothills real estate housing report - April 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.
​

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Ahwatukee Foothills, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson Realtor | Top Ahwatukee Real Estate Agent
Troy Erickson Realtor | Ahwatukee Realtor
Troy Erickson Realtor | Ahwatukee Realtor

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Tempe AZ Real Estate Housing Market Report - April 2021

5/8/2021

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Tempe AZ Real Estate Housing Market Report - April 2021

After increasing over $35k in March, the average sales price of homes in Tempe increased almost $55k in April, to a new all-time high of $528,354, and surpassing $500k for the first time. At the same time, the average sold price per square foot increased for the third straight month from $245/sf to $258/sf.
 
Days on market shot up in April to 29 DOM after decreasing the previous three months.
Tempe AZ homes for sale | Troy Erickson Realtor
Tempe home sales slightly increased in April from 126 to 131 for the fourth straight monthly increase, and are 48.9% higher than last April. This is mainly due to the COVID-19 pandemic shutting down the economy last March. It is typical for home sales to start off slow in the beginning of a new year, but if this trend continues, it may be a good year for home sales in Tempe.
 
The number of new listings decreased 1, to 148 in April, but are actually 4.7% higher than April of last year. The number of active listings increased for the second straight month, from 224 to 232, but are down -19.4% from April of last year.
 
The lack of listings continues to drive demand and home prices higher, so if the number of listings continues to be less than in previous years, expect home values to continue to increase.
 
With that said, median home values in Tempe have increased an average of 24.6% since April of 2020. With interest rates lingering below 3.0%, there will still be more buyers looking to purchase in 2021.
​

>>Click Here To See All Current Tempe Arizona Homes For Sale<<

​For more detailed stats on the Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Tempe real estate housing report - April 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Tempe, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

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Troy Erickson Realtor | Twitter

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Gilbert AZ Real Estate Housing Market Report - April 2021

5/7/2021

0 Comments

 

Gilbert AZ Real Estate Housing Market Report - April 2021

After a $41,000 increase in the average sales price of Gilbert homes last month, the average sales price dropped from $534,902 to $526,094. At the same time, the price per square foot has continued to climb for the tenth month in a row, and is now up to $233/sf.

Days on market has dropped for the third straight month to an all-time low of 16 DOM. This is extremely low, and means that homes in Gilbert are selling very fast!
Gilbert AZ homes for sale | Troy Erickson Realtor
Gilbert home sales increased in April, and are higher than in April of last year by 12.8%. I believe much of this may have to do with the COVID-19 pandemic, and home owners holding off on listing their homes for sale. The number of new listings increased to 486, and was also up 1.0% from April of last year due to COVID-19. There is still a lack of inventory based on demand, and that will only help home prices continue their upward trend. The number of active listings, at 652, still remains significantly lower, with -31.2% fewer homes for sale compared to April of 2020.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Gilbert have increased an average of 27.4% since April of 2020. With interest rates hovering below 3.0%, there still should be more buyers looking to purchase throughout 2021.
​

>>Click Here To See All Current Gilbert Arizona Homes For Sale<<

​For more detailed stats on the Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report - April 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.
​

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Troy Erickson Realtor
Troy Erickson Realtor
Troy Erickson Realtor

​Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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Chandler AZ Real Estate Housing Market Report - April 2021

5/6/2021

0 Comments

 

Chandler AZ Real Estate Housing Market Report - April 2021

The average sales price of homes in Chandler continues to climb up to a new all-time high of $534,984 in April, however, this was a very minimal increase over March (unlike the near $20k increases the previous two months). The average sales price per square foot also continues to increase, and is now up to $239/sf from $234/sf last month.
 
Days on market dropped for the third month in a row, down to a new all-time low of 21, as homes continue to sell very fast.
Chandler AZ homes for sale | Troy Erickson Realtor
Chandler home sales are up 46.8% from April of last year, coming in at 370 for April of 2021. I believe the large increase in Chandler home sales for April has a lot to due with the COVID-19 pandemic, and the shutting down of businesses starting in early March of 2020. The number of new listings are actually up 3.4% from April of last year, which I believe also has to due with the coronavirus, as many people decided not to sell during the beginning of the pandemic. The number of active listings remained about the same as last month, but is down -26.8% overall from April of last year.
 
The lack of listings continues to drive demand and home prices higher. Median home values in Chandler have increased an average of 31.3% since April of 2020, which is almost unbelievable. I wonder how much longer home values can continue to increase like this. With mortgage interest rates hovering below 3.0%, there still looks to be more buyers looking to purchase in the new year.

>>Click Here To See All Current Chandler Arizona Homes For Sale<<

​For more detailed stats on the Chandler Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Chandler real estate housing report - April 2021
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
​
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Chandler, AZ | Troy Erickson Realtor
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others"

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor  |  3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

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Troy Erickson Realtor - Twitter

Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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    Chandler and East Valley Blog: Troy Erickson Realtor

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     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

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Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
See more at: ChandlerRealEstate.weebly.com