Surprise AZ Real Estate Market Update 12-5-2011
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 firstname.lastname@example.org or contact me via my website at www.TeamSmith1.com if you ever have any questions or need anything. Have a great day!!