1. Laveen Arizona
Laveen’s month’s supply as of June 18th 2020 is at 1.1 which is significantly lower than the balanced rate of 5-6 months. This means there is still strong demand and low supply in Laveen. The list to sales price ratio is 99 percent which means if you listed your home for $200,000, it is selling for $198,000 on average. This means that many property owners are undervaluing their properties between $200,000-$300,000 and could sell their homes for higher than market value if their homes are in selling condition. According to the stats, it currently takes around 37 days for a home to go under contract in Laveen, however from what I have seen, anything below $300,000 is selling within 1-2 weeks as long as its in selling condition and marketed correctly.
2. Phoenix Arizona
The city of Phoenix’s month’s supply is down from 2.3 to 1.6 since last month. Most of Phoenix Metro is following the same trend with high demand and low supply. The pandemic caused a temporary increase in housing supply but that has radically shifted back down. Population increase has played a big factor in this. Listings under contract are at the highest point this year. Days on market for a home to go under contract in Phoenix is 46 days for the month of June compared to 37 in Laveen.
3. Glendale Arizona
Glendale’s months supply has gone down from 1.8 to 1.2 since this time last month which as I stated before means there is high demand and significantly low supply. The massive shortage of supply across Phoenix Metro is a big reason there are lots of new construction homes and apartments being built across Phoenix. The average number of days it takes for a home to go under contract for the month of June in Glendale is 40 which realistically is 1-2 weeks if the home is priced right, in selling condition, promoted well and shows easily. The average list to sales price is 99.22% which in my opinion means sellers are undervaluing their homes. For more blogs, go to TaxesAndRealty.com/blog. For videos on the local real estate market, go to https://taxesandrealty.com/market-update. For a personal budget sheet, go to https://taxesandrealty.com/personal-budget-calculator/.
If there is anything in the world you need help with or are looking to buy, sell, rent or invest in the future, save my number as “Realtor Lasker” at 480-779-8579 and my email at TaxesAndRealty@gmail.com. Good luck.