🏠📊 Market Update for Maricopa County, Arizona 📊🏠 📅 March 2024 📅
Attention Buyers and Sellers in Maricopa County! 🌵✨ REALTOR®, Charles Dine from Keller Williams Realty Sonoran Living, I’m here to provide you with the latest market trends and insights. Let’s dive into the numbers:
1. 📊 Months Supply of Inventory: The Months Supply of Inventory is currently at 3.91, which means that it would take about 3.91 months to sell all the homes on the market if no new listings were added. This number indicates a relatively balanced market where neither buyers nor sellers have a significant advantage.
2. 📈 12-Month Change in Months of Inventory: The 12-Month Change in Months of Inventory is showing a significant increase of +76.13%. This suggests that there has been an increase in the number of homes available for sale compared to the previous year. This could potentially indicate a shift towards a buyer’s market, where there is more inventory to choose from.
3. ⏳ Median Days Homes are On the Market: The Median Days Homes are On the Market is 46, indicating that homes are selling relatively quickly in this market. A lower number of days on the market typically indicates strong buyer demand and competitive pricing.
4. 💰 List to Sold Price Percentage: The List to Sold Price Percentage is at 98.5%, meaning that homes are generally selling very close to their list price. This suggests that sellers are pricing their homes effectively and that buyers are willing to pay close to asking price.
5. 🏠 Median Sold Price: The Median Sold Price is $520,000, which gives us an idea of the average price of homes that are selling in this market. This information can be helpful for both buyers and sellers to understand the current market conditions and make informed decisions.
Overall, these metrics show a balanced market with relatively quick sales and homes selling close to list price. Buyers and sellers can use this data to navigate the real estate market effectively and make informed decisions.
Whether you’re looking to buy or sell, now is an opportune time in Maricopa County, Arizona. Cyclicly, you’ll want to call us and prepare to list now so you are ready for selling season by March/April at the latest. As your dedicated REALTOR®, I’m here to guide you through the process and help you achieve your real estate goals. Get in touch today! 🤝🏡 520.878.7180
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