Least-to-Most Affordable Cities in Phoenix
Good morning wonderful person :)
Do you know what day it is today?!!?! Marvel Avenger's Endgame comes out today!!!
And do you know who bought their tickets 2 weeks ish ago?!!? THESE GUYS!! It's gonna be 3 hrs of total action mayhem awesomeness!
Probably no surprise here... I am a total, 100% dramatic nerd when it comes to these movies. Although my boys ask me whom my favorite Avenger is, I always say Optimus Prime.. cause he's an absolute bad-ass... but being real though... my favorite Avengers are Captain America and Iron Man... like peanut butter and chocolate... just not the same without them together.. the Avengers Civil War movie.. man... rough! It was like watching mom and dad fight! I was hooting and hollering at every dramatic turn >D I'm a total nerd! We're taking the kids out early today to do this... only because the movie was sold out in almost every seat those 2-3 weeks ago :)... so we're jacked! :)
Before I talk about Phoenix, I need to show you a super cool picture from Utah.. I always appreciate the efforts an artistic photographer does in capturing a picture.. however, the effort is incredibly noticeable when it's a night time long exposure kind of shot... because you know they had to commit to sleeping there in order to capture the moment in time. way cool! :)
I came across some really cool Metro-Phoenix real estate news and wanted to share with a friend :)
This table shows the least and most affordable areas in the Phoenix metropolitan area together with longer term pricing trends. It ranks the cities by their annual average sales price per square foot. Only single family detached homes are included in these numbers.
Cooler yet, check out the activity in the most active areas of town. The thing you want to focus on is the Cromford Market Index: it is a value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years. Values below 100 indicate a buyer's market, while values above 100 indicate a seller's market. A value of 100 indicates a balanced market.
If you are buying in any of these areas it will give you an incite to who has the upper hand in negotiations. This also shows you that if you have a house to sell in these areas it gives you an indication on the area of activity. Although things have slowed down compared to last year... we are still seeing that if a home shows well and is priced well, it is poised to sell that opening weekend. (one of our listings did just that last weekend) For Sellers, it's good to evaluate all the details of the market and your area to present your best selling intention first... For Buyers, depending on where you want to buy, you may be in a spot where you have to cater to the needs of the seller if you want them to say yes on a home... if you need wiggle room - which is totally fine - look for homes that have been on the market north of 20-30 days... those sellers are more likely to be flexible. :) And lastly, compared to how the year started and where we are today, it's pretty interesting data here.. The chart below reflects the growth in listings under contract... and has been quite remarkable over the past few weeks.
We can see that we started the year a long way behind 2018 but last Saturday we had caught up. As of today we can see 13,215 listings under contract - and on April 17, 2018 there were 13,070.
That is probably worth repeating - we now have MORE listings under contract than we did at this time last year. Pretty cool! :)
I hope you found this info helpful :) I work hard on balancing the content in my grateful Friday emails. The real estate market is a long game so I don't ever want to over-burden those kind of updates. I hope you found this one insightful :)
I hope you get a chance to see the movie too! :)
Have a grateful weekend!