Homes for Sale in the Phoenix AZ area appreciate 8%
Phoenix Arizona August 2017 Real Estate Sales update shows strong buyer demand for homes and condos for sale in East Valley and Southeast Valley communities of Chandler, Gilbert, Mesa, Phoenix, (Ahwatukee), Scottsdale and Tempe AZ.
Combined there were 3645 single family home closed sales during August 2017, representing a 3% increase in sales over last August. Sold volume for these six cities totaled $1.3 B, a 12% increase over last August while the average sales price rose 8% to $287,000. What this means to you is the Phoenix real estate market is strong and now is a good time to be buying... and selling a home.
August sales of Scottsdale homes for sale saw the highest one year average sales price increase of 14%, while Tempe AZ followed closely with an increase of 13%. Chandler saw an 8% increase, Gilbert enjoyed a 9% increase, Mesa followed with a 6% increase and ending with Phoenix homes for sale recording at an averages sales price increase of 8%.
During fourth quarter price gains from earlier in the year, when we have the most sales activity, is consolidated, as buyers are less inclined to move during this part of the school year. Since there are fewer home buyers and sellers, there is less price speculation and fewer properties to choose from. Sellers are less inclined to over price their homes and buyers are less likely to undercut the asking price. Fourth quarter should be your best time to buy and sell a home with less competition to get the home you want to buy. During the late spring and summer home buying spree, many buyers lost out on their first, second... choice.
For assistance in finding a gem of a home, contact Sam. With 27+ years of experience he knows where to find the home of your dreams.
Arizona Associate Broker, Graduate, REALTOR® Institute, CRS, e-PRO, SFR
Berkshire Hathaway HomeServices Arizona Properties