Many homeowners are facing a major dilemma in today’s fast changing Arizona Real Estate Market.
When do I sell my home?
The Arizona Real Estate market has experienced major turmoil over the past few years, but now we are making an effective u turn, with many more buyers than sellers. For every one seller, we are finding we have at least 7 buyers. Does this mean you should consider selling now or wait to see what happens to the market?
If you’re considering a move, this might just be the very best time. We have many motivated buyers that are highly qualified and are urgently looking to take advantage of today’s low interest rates. If you wait for the price of your home to increase further, this might be counter acted by an increase in interest rates, while the desire and ability for a new Buyer to purchase a home may diminsih.
If you are expecting prices to increase as they did in the mid-2000s, you will most likely be waiting for a while. We have seen an increase in movement over the past year, but waiting for the market to reach previous levels may take longer than you think.
FOOD FOR THOUGHT!!
- There are currently 13,520 homes available in the Maricopa County for sale (About 1.5 months supply)
- 6,739 homes are Active with Contingency
- 10,591 homes are Pending and waiting to close
- In June 2012, 9,129 homes were transacted between Buyers and Sellers
- In the last 6 months 48,577 homes were transacted
- In the last 12 months 96,117 homes were transacted.
In a normal market, we would expect to see about 32,000 homes available for sale at any one time!!
So, in answer to the question, when do I sell my home? The right time to sell your home, is only when it’s right for you. You need to be informed on the current market conditions and we recommend you always work with a Professional Licensed Realtor. The numbers above are from the Arizona Multiple Listing service and more detailed reports are available to you upon request. My team takes pride in staying informed on local market conditions and are ready to assist you in selling, buying or just simply evaluating your current strategic position.
