Phoenix Area Real Estate

July 1, 2016

June 2016 MLS Market Report

Phoenix Area Real Estate Market Remains Strong

According the the June 2016 Arizona Regional Multiple Listing Service (ARMLS) market report, the Phoenix Area real estate market remains strong.

In June 2016 there were 8,861 sold homes compared to 8,674 in 2015 and we have sold just over 45,000 homes in the first six months of the year. Last year ARMLS reported 84,249 total sales.

The Average Price Per Month was $282,624 up slightly from $282,044 and was higher than the $270,980 reported one year ago.

The Median Sale Price Per Month was $230,000 up from $225,700 last month and up from $214,900 back in June 2015.

The Average Days On Market was 76 down slightly from 78 last year and 77 last month.

Overall the Phoenix Area Real Estate market is keeping up pace with last year and is still heading up.

ARMLS June 2016 Average Sales Price Per Month

Posted in Market Reports
March 20, 2016

Waiting To Buy A Home?

 

YOU MAY MISS OUT ON LOW INTEREST RATES

The Federal Reserve raised the key interest rate by a quarter-point to a range of 0.25% to 0.5%, the first rate increase in nearly a decade.1 While some experts expect the Fed to raise rates gradually this year, some economists expect rates to increase three or four more times this year.2 Increases are anticipated to amount to a quarter-point each time, and when they do occur are sure to impact mortgage rates.2 What’s a homebuyer to do? 

NOW IS THE TIME TO BUY!

 

While a quarter-point increase in interest rates doesn’t seem like much, it could mean the difference of hundreds of dollars a month in your mortgage payment, depending on the price of the home, your interest rate, how much you’re borrowing and the size of your downpayment. This is money you could use to renovate, go on vacation or save for retirement.

 

WHAT SHOULD YOU DO NOW?

The rates are BACK DOWN AGAIN (see graph below) 

Mortgage Interest Rates September 2017

 

GET PRE-QUALIFIED FOR A MORTGAGE!

If you haven’t done so already. Getting pre-qualifed means you can spring into action when you find the home you want to buy. I work with great lenders in our area, text or call me at (602) 750-1744 if you need a referral from my trusted network!

NARROW DOWN YOUR SEARCH CHOICES!

Use our website to search all active homes for sale. Our website is updated every 5 minutes by the REALTORS computer system called the MLS and displays accurate status information. What neighborhoods do you have your eye on? Do you want three or four bedrooms? Do you want a big yard or no yard at all? This list goes on and on. While buying a house is a process of elimination, not a process of selection, the more you know what you want, the better prepared you are to make the right decision.

Don’t wait for another rate increase to buy. Call or text me DONALD KEYS Professional REALTOR today at (602) 750-1744 to discuss the home buying process and your options within our local real estate market! 

 

Sources: 1. CNNMoney, December 16, 2015 2. The Guardian, January 6, 2016

3. Bankrate Mortgage Payment Calculator 

Waiting To Buy A Home

Posted in Market Reports