The Valley real estate market appears to be turning the corner. Report after report has shown the number of sales way up, inventory shrinking and foreclosures dropping. The latest publication by The Cromford Report shows the economic indicators for Valley real estate are way up.
Here is a summary of the report:
- 9,901 closed sales occurred in March making it the 5th highest monthly total ever recorded in ARMLS History
- Demand is accelerating while supply is falling.
- Trustee Sales in Maricopa County hit a high number of 5,226 in March
- Third parties buying at trustee sales made a new record of 1,379 purchases (26.4% of the auctions)
- Median Price sales price for Phoenix has stabilized. It has been stuck at $110,00 for three months now
- Overall inventory for the Valley is at 4.2 months…which is considered to be a NORMAL market for this time of year
Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
Cell (602) 791-0536
Carmen@TopScottsdaleHomes.com
www.DesertMountainHomesOnline.com