Surprising housing trends in store for Phoenix this spring
Contrary to the majority of metro-area housing markets, Phoenix is seeing positive momentum in leaps and bounds. This is good news for home sellers looking to do well in the market and move. To get the best price, you should consider putting your home on the MLS listings in Phoenix at a competitive rate to potentially create a bidding war between buyers.
Many homes were available in Phoenix for just over $256,000 in April 2012. While the median sales price was $90,568 for the first quarter of 2012. An estimated 4,870 homes sold during that time.
How should you price your Phoenix home per market?
1. Scottsdale. This affluent neighborhood offers luxury homes. The average listing price was $809,478 for the week ending on April 18. However, the median sales price for the first quarter was $267,500. While the median sales price is down from where it was last year, the average listing price was up in a week-over-week comparison. The local area is famous for celebrity sightings due to the number of high-quality amenities it offers such as art galleries and expensive restaurants.
2. Mesa. Consider checking out this middle class neighborhood for affordable homes that are increasing in value. The average listing price was $196,420 for the week ending on April 18, the median sales price was $115,000 for the first quarter of 2012. Both of these figures are up for the year and the week. In addition to the rising home values, inventory is down and many potential buyers are curious about housing opportunities. If you are interested in a home in Tempe, Arizona, yet cannot afford the prices there, this is a similar neighborhood that is more affordable.
3. Ahwatukee Foothills. Home values in this community have stayed consistent for the most part. The average listing price for the week ending on April 18 was $396,930 and the median sales price was $218,000 for the first quarter. These housing market indicators are up in a week-to-week and year-to-year comparison.
Research the prices for your neighborhood to effectively list your property. Make your home for sale in Phoenix a key competitor to get the closing price you want.