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Phoenix and East Valley AZ Real Estate Market Report November 2018

12/19/2018

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Phoenix and East Valley AZ Real Estate Market Report November 2018

Real estate market data for Phoenix, AZ provided by Troy Erickson Realtor of Good Company Real Estate.
Phoenix Metro Home Prices and Statistics

Prices of Phoenix Metro homes decreased slightly (1.0%) in November to $260,000, back to what they were in September. However, this is still a 6.1% increase from November of last year ($245,000), but still below the high of $267,264 in June of this year. The number of days on market (DOM) remains low, at 62, but did increase from 59 last month. Having such a low DOM means homes in Metro Phoenix are still selling at a rapid pace. The average sold price to original list price remains high at 96.8%, even though this is the fourth straight month we have seen a decrease since the high of 97.4% in July. This is mainly a seasonal adjustment, and overall a good sign that there is still a demand for homes, and homes are holding their prices. All of these factors show that even though we are heading into the winter, the Phoenix Valley is still in a sellers market.
East Valley Housing Reports from Troy Erickson Realtor
Phoenix and East Valley Real Estate Reports | Troy Erickson Realtor
The number of new listings decreased 11.8% from 9,275 last month, to 8,183 in November. This is a significant drop, but it was unusual to see the increase in new listings from September to October, so this number is more in line with what is expected this time of season. The number of new listings is actually a little higher than in November of last year, which was at 8,118, after being lower than the previous year the last two months. The total number of active listings increased for the fourth straight month, and the November 2018 was 17,252. This is still 2,113 fewer listings than the 5-year average for this time of year. The Phoenix Valley continues to see a low inventory of homes for sale.
November marks the fifth out of the last six months that the Phoenix Metro market has seen decreasing home sales. After October saw a 3.6% increase, November came back down to reality and saw an 8.8% decrease, down to 6.431 homes sold from 7,049 in October. This is also 576 fewer sales than in November of last year. We are still on track to sell more homes this year than last, which overall is a good sign, especially since inventory has been so low throughout the year.

The low inventory of homes for sale in Phoenix still has some sellers receiving multiple offers on their homes. However, with less competition from buyers this time of year, you may have a better chance of getting the home you desire. Having a good real estate agent who understands the market is a must. Homes in the Phoenix Metro area are still selling within a few weeks of hitting the market so you will want an agent that can provide you a list of homes for sale as soon as they are available for sale.

I have additional market reports and statistics included on my website, and you can find this information by clicking the following link, Arizona Multiple Listing Service Market Stats and Reports.
Phoenix and East Valley Real Estate Market Reports | Troy Erickson Realtor
Phoenix Real Estate Report Summary
  • The average sold price in November for single family homes in Metro Phoenix is $325,798.
  • The average sales price has increased by 5.81% from November of the previous year.
  • The median sold price in November for single family homes in Metro Phoenix is $260,000.
  • The sales price has increased by 6.10% from November of the previous year.
  • The number of new purchase contracts in November decreased to 7,287.
  • New purchase contracts have decreased by 10.1% from November of the previous year.
  • The number of active listings for November is at 17,252.
  • The average Days on Market is 62.

Find Homes for Sale in Phoenix AZ

Visit my website to search for homes in Phoenix or to be notified when homes in Phoenix and the surrounding area come on the market. ​You can also click on the following link to find out how much your home is worth.

If you have any questions about home buying, home selling, or investing
in real estate in Chandler, or the East Valley of Arizona, just call/text me at 602-295-6807, or email me and I can help!
​
"Real Estate is more than just a job for me. It is about making a difference in the lives of others.
​I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"

Troy Erickson Realtor
Call/Text: (602)295-6807
TroyEricksonRealtor@gmail.com
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​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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Troy Erickson Realtor Receives Certificate of Excellence in Real Estate For Third Straight Year

12/11/2018

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Troy Erickson Realtor Receives Certificate of Excellence in Real Estate For the third straight year!

I am so honored to have received this 'Certificate of Excellence in Real Estate' award from Broker Agent Advisor for the third straight year. It is great being recognized for my local real estate industry knowledge, dedication to my profession, and service to my clients and community. I am so excited to be selected in the Top 10% of Real Estate professionals nationwide, and want to thank everyone who has made this possible.
Best Real Estate Agent in Chandler Troy Erickson Realtor | Award winning Chandler Realtor Troy Erickson Realtor
Press Release

FOR IMMEDIATE RELEASE

Troy Erickson Brings Home National Honor Again

Broker★Agent™ Advisor Honors Achievement

Phoenix, Arizona 12/11/18 - Now in its 23rd year, Broker★Agent™  Advisor celebrates the success and accomplishment of the industry’s finest real estate professionals through it’s exclusive ‘Certificate of Excellence’ Program.


Through proprietary criteria, formulas, and other valuable considerations, Troy Erickson of Diverse Solutions Realty has been distinguished by Broker★Agent™ Advisor as one of the best in business based on achievement, potential, leadership, ethics, community value, experience, capability, and trust for their service during the calendar year of 2018.

“Troy exemplifies the type of professional we designed this award for,” says Chad Golladay, Executive Publisher of Broker★Agent™ Advisor. “A true credit to their company, profession, and community both inside and outside of their real estate practice; one with whom the honor is truly ours in being able to share this award.”

There is no cost or fee required for this award, and all applicant’s credentials are verified, which makes this honor one of the most genuine in the industry towards identifying those truly worthy of special recognition and distinction.

Troy Erickson can be found in Broker★Agent™ Advisor’s national online directory of award recipients here: http://brokeragentadvisor.com/brag-directory


More About Broker★Agent™ Advisor
Established in 1996 Broker★Agent™ is a real estate trade publication which provides information, tools, and resources to assist the modern real estate professional in achieving greater success through their real practice. 

SOURCE: Broker★Agent™ Advisor




​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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    Troy Erickson

     "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.
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