Real Estate Information

May 2013 Market Update

Video Script Transcribed Into Text:

I am Joshua Smith with The Joshua Smith Real Estate Group,  home of the 1 day listing agreement and your home sold or we buy it guarantee, I  am  here in lovely, sunny Phoenix Arizona with May 2013’s Maricopa County Real Estate Market Update.

The market is still on fire and values are climbing. The average sold price is now $227,000 which is up $6,000 in one month and up $38,000 from 12 months ago.

Currently homes are on taking an average of 56 days on the market before getting an accepted offer and for the second month in a row, homes are selling on average at 97% of list price.

The real estate market is correcting fast and for homeowners it is an amazing time to put your home on the market, there are currently more buyers than homes for sell which has created a strong sellers’ market. However if you are a buyer, it is important to try and buy as soon as possible as home values are not going to stay this low for long and interest rates are at all-time lows.

If you are interested in a 100% free home valuation or if you are looking to buy visit our website SoldByJoshua.com, again SoldByJoshu.com on the home page you can submit a 100% free, no obligation home valuation request or you can request a 100% free, no obligation, custom, automated home search where you will be emailed homes daily that meet your criteria the second they become available on the multiple listing services.

 Thank you for watching this video and please feel free to contact us anytime 1-800-79-Listing or SoldByJoshua.com, we greatly look forward to helping you and your family accomplish your real estate goals

Hi, this is Joshua Smith with the Joshua Smith Real Estate Group, home of the 1 day listing agreement and your home sold guaranteed or we buy it, with this months Maricopa County Arizona’s Real Estate Market Update for April 2013.

Currently the real estate market is on fire, homes are selling fast and home values are on the rise. Today the average home sold price is $221,794, 12 months ago it was $181,283, that is up 22% in 12 months.

The reason for property value increase, as always, comes down to supply and demand, currently there are more buyers than homes for sale, which continues to drive values up. This is due highly to historically low interest rates, and real estate buyers confidence that the local real estate market hit the bottom and is improving.

The average time homes are currently taking to sell is 59 days and are selling at 97%  of initial list price. The market is rapidly improving, if you are interested in a 100% free home valuation or if you are looking to buy visit our website SoldByJoshua.com, again SoldByJoshu.com on the home page you can submit a 100% free, no obligation home valuation request or you can request a 100% free, no obligation, custom, automated home search where you will be emailed homes daily that meet your criteria the second they become available on the multiple listing services.

Thank you for watching this video and please feel free to contact us anytime 1-800-79-Listing or SoldByJoshua.com, we greatly look forward to helping you and your family accomplish your real estate goals

I hope everyone is having a great month so far!! As we are fast approaching Christmas and New Years the real estate market tends to slow down and then re-picks back up the first or second week of the new year. Over the past few months the market has been crazy! Inventory levels are way down (the number of homes currently for sell) which creates more demand for buyers and prices start to rise. The inventory in Surprise AZ is the lowest I have seen since 2005 and there are a lot of good signs that the market is correcting. We still have a long way to go however, we are seeing some very positive signs. Currently there is 2 months worth of inventory in Surprise which means that if there were no more homes listed for the next 2 months, all the current homes for sell would be sold (in theory).  We are seeing a large decrease in the amount of foreclosures coming to the market and we are seeing an increase in regular/traditional listings coming available. If you have bought within the last few years and now need to sell, chances are you have enough equity now to do so. My guess is we will follow the trend from previous years and new offers coming in will be slow for the next few weeks but then pick right back up in the first week of 2012. I will keep you updated to what is going on locally and please feel free to email me at joshua@teamsmith1.com or contact me via my website at www.TeamSmith1.com if you ever have any questions or need anything. Have a great day!!

I hope everyone had a great Memorial Day Weekend!! Here in Surprise AZ it was a gorgeous weekend, the weather was great and made for a perfect BBQ/hang out by the pool weekend! I wanted to share some quick facts on our current real estate market. The statistics are from the Arizona Regional MLS and, in my opinion, show some very good signs. These stats cover all of Maricopa County. We currently have 3.81 months of inventory on the market (homes offered for sale), which means that if there were no new homes listed for sale, within 3.81 months all the homes would have sold. Since the crash, there have been times we have had 1-2 years worth of inventory. The average home is selling for 95.7% of list price, average days on the market are 106 days until an offer is accepted and the average current sales price is $160,171. I primarily work in the North West Valley (Surprise, Peoria, Goodyear, Avondale, Litchfield Park, etc...) and we are experiencing a lot of multiple offers on our properties which is very encouraging. There are currently more buyers than homes available. With home prices so low and interests rates low, it seems that people feel right now is the time to buy and I 100% agree. My wife and I just bought a new home ourselves in Surprise AZ as well and feel the market has hit rock bottom. Please feel free to shoot me an email at Joshua@TeamSmith1.com with any questions or comments. I will start posting monthly market updates, so be sure to stay tuned and I hope you have a great day!!