REALTIME MARKET STATS – PHOENIX REAL ESTATE

by Justin Lombard LIVE!  UPDATED IN REAL TIME! Phoenix real estate statistical reports for the trailing 12 months for Greater Phoenix and surrounding communities represented in the shaded areas on the map below.     On the charts below, hover over the graphs and click on the legend for interactive features.   Sold Listings (#/units)   Average Sale Price   Average Days... 

Happy Halloween!

We will never forget – 9/11/01

Arizona Drops out of “Foreclosure Top 10”

HousingWire reports that foreclosure filings dropped almost 16% in July 2013 from June, and are down about 50% over the same time last year. This data confirms what most Arizona Realtors and real estate analysts already knew — the Arizona real estate market is in full recovery mode. Solid appreciation has created a market that’s a mix of sellers who now find they have sufficient equity... 

Funny Phoenix Real Estate Photos

Over the years, I’ve seen some pretty remarkable things in the Phoenix real estate market, both at properties and in the MLS.  A few years ago, I finally started collecting images of the more interesting topics.  I also have an outstanding collection of Realtor business cards that’ll leave you rolling, but that’s another blog post for a different day. As you look through these photos,... 

Have $1.7M to spare? This UNDERGROUND Las Vegas estate could be yours!

In the market for a luxury estate with a retro vibe? Love the excitement and glamour of Las Vegas? But…worried about nuclear holocaust? This could be your answer! Originally built by a wealthy businessman as a post-apocalyptic bunker, this estate boasts luxury appointments (for the 60’s/70’s anyway), a guest casita, pool, spas, custom lighting, and “realistic” flora.  Best... 

What is a home warranty?

I’ve been a big believer in home warranties since I began my career in real estate, which is why it’s surprising to me how many people aren’t aware of exactly what a home warranty is or does.  While some, particularly those from other countries, are often completely unfamiliar with the concept, others tend to confuse it with home insurance. Home insurance is a very different protective... 

Valley home prices back to 2008 levels

In 2007, the Valley’s housing market began a long spiral collapse, followed by years of high supply and low demand, leading to a multi-year, very slow, very steady period of recovery. About 19 months ago, people realized that the Phoenix real estate inventory, once as high as 60,000 available properties, had dwindled to well below 10,000 units.  Indeed, we had shifted from a strong buyer’s... 

Condos are a Different Animal

Very often, I work with buyers who are more focused on specific property characteristics (e.g. square footage, # of rooms, interior upgrades, price, location, etc) than the type of property they purchase.  They’d equally entertain a house or a condo with no strong preference either way.  This is particularly true of seasonal “snow bird” residents, who tend to have stronger preferences... 

HAPPY FATHER’S DAY!

Happy Father’s Day to all the dads, papas, grindads, granddads, pa’s, pappys, and peepaws out there. More so than ever, fathers (and grandfathers!) play a critical role in helping the kids in their lives develop into physically and emotionally healthy, responsible adults.  There’s no substitute for a father’s love, support, positive role modeling, and all around “fun-ness.” To... 

Phoenix tops Kiplinger list of cities where home prices have risen the most

According to a recent Kiplinger article, Phoenix leads the nation with a 26.2% increase in home prices.  The author doesn’t draw many conclusions, but implies the market will slow down as distressed inventory levels fall and more sellers jump into the market. While I agree that Phoenix real estate can’t sustain a 26.2% annual appreciation rate for the long term, I don’t see any indications...