by Russell Shaw | Jul 15, 2021 | Market Update, State of the Market
The Market Begins to Cool The market has been in such an overheated condition this year that any headline of a “market slowdown” is almost inherently misleading. Yes, the market is slowing. But it is a good sign, not a bad one. The market shift actually began in...
by Russell Shaw | Jul 13, 2021 | Market Update, State of the Market
DEMAND WEAKENS The market has been shifting since March when the properties available for sale hit its smallest number. As we mentioned before, this market has been largely controlled by the supply (or more accurately, the lack thereof). Supply is finally starting...
by Russell Shaw | Jun 14, 2021 | Market Update, State of the Market
THE HIDDEN FACTOR IN TODAY’S REAL ESTATE MARKET The Median price for homes in the greater Phoenix area is up a whopping 32% from 2020. Prognosticating the real estate market is a thankless job – but unlike the stock market some predictions are fairly safe to...
by Russell Shaw | May 12, 2021 | Market Update
EARLY SIGNS OF MARKET CHANGES? The real estate market has been like our valley’s summers – unrelentingly hot. The inventory of homes for sale is ridiculously low for a metro area of our size. The average number of available homes has been hanging in the 4100-4500...
by Russell Shaw | Apr 15, 2021 | Market Update
LUXURY HAS EXPLODEDHOMES SELLING FOR 101% OF LIST PRICE ON AVERAGE For Buyers:With 54% of all sales closed over asking price so far in April, the average sale price per square foot is now higher than the list price for every price range up to $1M. In a balanced...
by Russell Shaw | Mar 16, 2021 | Market Update, State of the Market
NEW LISTING COUNTS LOWEST IN OVER 20 YEARS The valley is currently experiencing an almost once in a lifetime unbalanced market due to the extreme scarcity of properties for sale. This extremity is startling even to those of us whom have tracked numbers for 20 years. ...
