Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 7, 2023

November Update on the Greater Phoenix Arizona Market

Exploring the November Real Estate Trends in Greater Phoenix: Insights from Arizona Realtor David Pole

 

As November brings cooler temperatures and the holiday season into focus, it's a perfect time to delve into the latest real estate statistics for the Greater Phoenix area. Whether you're a prospective homebuyer or seller, or simply an enthusiast of the local housing market, these figures provide valuable insights into the current state of real estate in our dynamic Arizona community.

 

New Inventory: A Shift in the Right Direction

 

In November, the Greater Phoenix area welcomed 7,277 new inventory listings, signaling a positive upturn from last month's 7,063. Interestingly, this figure is slightly down from the 7,407 listings we observed at the same time last year. This indicates a notable shift, potentially favoring buyers and making it an exciting moment for those looking to enter the market.

 

Active Listings and Closed Sales: Changing Dynamics

 

With 15,319 active listings this November, the market has seen a significant increase from both last month's 13,404 and last year's 19,523. In contrast, closed sales have experienced a decline, with 4,700 transactions recorded this month, down from 5,503 last month and 4,974 during the same period last year. These trends suggest a potential shift in the market dynamics, where the balance between supply and demand continues to evolve.

 

Average and Median Sales Prices: Finding Value

 

The average sales price in November stands at $575,892, showing an increase from the previous month's $556,710 and a notable rise from last year's $543,566. Meanwhile, the median sales price has risen to $435,000 from last month's $432,000 but is slightly down from the $440,000 figure recorded last year. These numbers underline the dynamic nature of the market, where buyers and sellers should closely consider pricing and value.

 

Market Performance Indicators: A Closer Look

 

Market performance metrics offer insight into the market's health. The sold-to-list price ratio now stands at 98.0%, showing a slight decrease from the previous month's 98.1% but a marked improvement from last year's 97.1%. The listing success rate is at 74.8%, indicating a decline from the 77.6% reported last month but a significant increase from last year's 67.6%. These indicators emphasize the importance of working with experienced professionals to navigate the real estate landscape effectively.

 

Supply and Days on Market: The Pulse of the Market

 

The current inventory supply, measured in months, is at 3.3, indicating an increase from last month's 2.4 but a decrease from the 3.9 recorded last year. The average days on market is 55, a decrease from last month's 56 but a slight increase from the 54 observed last year. These figures highlight the delicate balance between supply and demand and the pace of the market.

 

Looking Ahead with David Pole

 

In a constantly evolving real estate landscape, being well-informed and partnering with an experienced professional is key to success. As November unfolds and the Greater Phoenix real estate market continues to evolve, remember that David Pole, your licensed Arizona realtor, is here to guide you. We consider all the latest information and statistics to help our clients achieve their real estate goals in Arizona.

 

Whether you're curious about your home's value in today's market or seeking expert guidance to navigate the changing dynamics, David Pole is the trusted partner you need. Reach out to him today and embark on your journey to real estate success. Your dream home or investment property might be closer than you think.

Aug. 25, 2023

Fall Fun in Greater Phoenix: Your Guide to September's Must-Do Events

Fall Fun in Greater Phoenix: Your Guide to September's Must-Do Events

 

As the summer heat gradually gives way to cooler temperatures, September in the Greater Phoenix area welcomes an exciting lineup of events that will make you fall in love with the season all over again. From music festivals to film screenings, culinary adventures, and cultural celebrations, there's something for everyone to enjoy. As your trusted Arizona real estate agent, I'm here to help you make the most of this vibrant month. Let's dive into the festivities!

 

1. riseUP Music Festival - September 2nd

Get ready to dust off your cowboy boots and immerse yourself in the captivating world of country music. The riseUP Music Festival, set against the stunning backdrop of The Park at Wild Horse Pass in Chandler, promises a day of toe-tapping tunes and performances by the future superstars of country. Whether you're a die-hard country fan or simply looking for a day of great music, this festival is a must-attend.

 

2. Spotlight on Europe Film Festival - September 10 to 14

Film enthusiasts, get ready for a cinematic journey across the Atlantic. The Spotlight on Europe Film Festival at Majestic Tempe brings you a selection of seven thought-provoking European films over five days. Immerse yourself in the diversity of European cinema and experience storytelling at its finest.

 

3. Arizona State Fair - September 22 to October 19

Step right up to the Arizona State Fair! From thrilling rides to mouthwatering foods and captivating exhibits, the fair offers a true feast for the senses. The State Fairgrounds in Phoenix become a hub of excitement, with performances that will leave you entertained and memories that will last a lifetime.

 

4. Fall Arizona Restaurant Week - September 8 to 17

Calling all foodies! Prepare your taste buds for an exquisite culinary journey during Fall Arizona Restaurant Week. Indulge in the offerings of some of the Valley's most acclaimed restaurants as they participate in this delectable event. With 10 days of culinary exploration, your palate is in for a treat.

 

5. Rockin’ Taco Street Fest - September 23

Experience the vibrant flavors and rich culture of Mexico at the Rockin’ Taco Street Fest. Taking place at DR. A. J. Chandler Park in Chandler, this festival is a celebration of all things taco! From traditional favorites to innovative twists, let your taste buds salsa their way through this culinary delight.

 

6. IYKYK Music Festival - September 9

Music lovers, get ready to groove! The IYKYK Music Festival, presented by Relentless Beats and Universitile, is a high-energy event featuring performances by big names like Lil Uzi Vert and Metro Boomin. Located at the Phoenix Raceway in Avondale, this festival is a must-attend for music enthusiasts of all ages.

 

7. Boots in the Park - September 22 to 23

Country music takes center stage at the Boots in the Park event, now expanded to a two-day extravaganza. With headliners like Blake Shelton and Brooks & Dunn, the Tempe Beach Park will be transformed into a country music paradise. Dust off your boots and get ready to dance the night away.

 

8. Cirque du Soleil - Cortero - September 17

Prepare to be mesmerized by the enchanting world of Cirque du Soleil. "Cortero" brings a carnival-esque story to life through a mesmerizing combination of live music, acrobatics, dance, and acting. Witness this magical performance at the Footprint Center in Phoenix and be transported to a realm of wonder.

 

9. Junk in the Trunk Vintage Market - September 15 to 17

Vintage lovers and supporters of local businesses, this one's for you. The Junk in the Trunk Vintage Market at Westworld of Scottsdale is a treasure trove of unique finds, handmade artisanal crafts, and vintage gems waiting to be discovered. Explore the market and take home a piece of local creativity.

 

With these remarkable events happening throughout September, the Greater Phoenix area is alive with the spirit of fall. Whether you're a music aficionado, a film buff, a food lover, or simply someone who enjoys a good time, there's an event tailored just for you. As you explore these exciting happenings, remember that the Greater Phoenix area offers more than just fun events – it's a place you can call home. If you're considering making a move to this vibrant region, don't hesitate to reach out to me, your Arizona real estate agent. Let's find your perfect home amidst the beauty and excitement of fall in Phoenix! Likewise, if you're considering selling your home in Arizona, look no futher. Who better to sell your home than someone who is not only a professional Realtor, but a knowledgeable local guide for all that Arizona has to offer!

 

 

Aug. 9, 2023

August Update on the Greater Phoenix Arizona Market

Navigating the August Real Estate Landscape in Greater Phoenix: Insights from Arizona Realtor David Pole

 

As the scorching summer sun begins to wane and the month of August settles in, it's time for us to take a deep dive into the latest real estate statistics for the Greater Phoenix area. Whether you're a potential homebuyer, seller, or simply an enthusiast of the local housing market, these numbers provide valuable insights into the current state of real estate in our vibrant Arizona community.

 

New Inventory: A Shift in Numbers

 

In August, the Greater Phoenix area witnessed a fresh influx of 6,225 new inventory listings. Although this figure is slightly down from last month's 6,835, it's important to note that it marks a significant decrease from the 10,604 listings we saw at the same time last year. This trend indicates a potential shift in the market dynamics, making it an intriguing time for those looking to explore the market.

 

Active Listings and Closed Sales: A Steady Decline

 

With 9,675 active listings this August, the market has seen a decline from both last month's 9,868 and last year's 17,225. Similarly, closed sales have also experienced a decrease with 5,485 recorded this month, down from 6,903 last month and 5,713 during the same period last year. These numbers could suggest a market that is favoring sellers, potentially leading to more advantageous opportunities for those actively seeking to sell their home.

 

Average and Median Sales Prices: Finding the Balance

 

The average sales price in August sits at $559,447, showing a slight decline from the previous month's $586,734, but a positive increase from last year's $547,249. On the other hand, the median sales price has risen to $449,000 from last month's $445,000, while taking a step back from the $470,000 figure recorded last year. These figures demonstrate the dynamic nature of the market, where both buyers and sellers should consider the balance between pricing and value.

 

Market Performance Indicators: A Closer Look

 

The metrics of the market performance further highlight the nuanced changes. The sold-to-list price ratio now stands at 98.3%, showing a positive shift from the previous month's 98.1% but a slight dip from last year's 98.7%. The listing success rate currently sits at 73.6%, indicating a minor decrease from the 78.1% in the prior month, yet a significant increase from last year's 61.6%. These indicators emphasize the importance of working with experienced professionals to achieve your real estate goals, whether buying or selling.

 

Supply and Days on Market: The Pulse of the Market

 

The current inventory supply, measured by months, stands at 1.76, showing a rise from last month's 1.43 but a considerable drop from the 3.00 recorded last year. The average days on market is 58, a decrease from last month's 63 yet a notable increase from the 32 we experienced last year. These figures reflect the delicate equilibrium between supply and demand, ultimately shaping the pace of the market.

 

Looking Ahead with David Pole

 

When navigating the ever-evolving real estate landscape, it's essential to have a knowledgeable guide by your side. That's where licensed Arizona realtor David Pole comes into play. With a finger on the pulse of the market, David takes into account the latest information and statistics to help his clients achieve their real estate dreams in Arizona. Whether you're curious about your home's value in today's market or seeking expert guidance to reach your real estate goals, David Pole is the partner you can trust.

 

As August unfolds and the Greater Phoenix real estate scene continues to shift, remember that the key to success lies in being informed and working with a dedicated professional. Reach out to David Pole today to explore the potential that awaits you in our thriving Arizona market. Your journey to real estate success starts here.

July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.