Sure Phoenix, Arizona is known for its scorching temperatures, but just how hot is its real estate market? Buyers and sellers alike have a huge stake in the market. Buying or selling at the wrong time can cost you thousands of dollars.
Whether you are buying or selling in Phoenix Arizona, it literally pays to consult an experienced real estate agent. Connecting with a Clever Partner Agent can save sellers thousands of dollars in realtor commission fees and buyers can enjoy a Home Buyer Rebate.
In the meantime here are 2019 Phoenix real estate trends you need to know.
2019 Home Value Trends for Top 5 Neighborhoods in Phoenix
The general market in Phoenix is warming up and beginning to favor sellers. Home values have risen by 5.5% in the past 12 months and are expected to rise an additional 2.6% in 2019 according to June 2019 data from Zillow. Home buyers can expect to get a deal on a great home in one of these neighborhoods.
Maryvale is a great option for home buyers who want to save money on a home while remaining close to the city. The median price of homes sold in Maryvale is $186,100, which is about $49,000 less than the median price of homes sold across the United States.
Maryvale’s real estate market is heating up, so buyers would be wise to buy quickly before the market completely favors sellers.
Laveen’s real estate market is hot. The median price of homes sold in Laveen is $234,200. Home values have risen by 8.1% in the past 12 months and are expected to rise another 5.1% in 2019.
Camelback East Village
Homes in Camelback East Village have a median home value of a $334,200 with a median sale price of $257,500. The market in Camelback East Village is cool and buyers can get a great deal.
Encanto Village is one of the most affordable Phoenix neighborhoods with home values of $284,000. In the past 12 months, home values have gone up 3%, but are expected to decline by 1.3% in the next 12 months. Encanto’s current market is a cool and a good choice for buyers.
This neighborhood is directly east of Phoenix and is one of the most affordable neighborhoods in Phoenix. The median sale price of homes in Estrella is $213,300. Home values have risen significantly in 2018 and are predicted to continue to climb by 4.9% in 2019
The Best Time to Buy a Home in Phoenix
If you’re looking to make the move to Phoenix, you can save a good chunk of change if you play your cards right. Hiring an experienced real estate agent can help you make an informed decision about the best time to buy a home in Phoenix.
Phoenix doesn’t exactly follow general real estate market trends. It’s still the norm for home buyers to fare better financially when purchasing in the colder months. However, March is the biggest month for real estate transactions in Phoenix, by far.
If you are looking for variety and quality over, cost, then shop in January, March, and April when most homes are listed. You’ll have a lot more competition, but you might just find your dream home, even if you end up paying over the asking price.
According to Redfin data, homes listed in Phoenix in January sat on the market for an average of 56 days, while homes listing in June were scooped up in just 38 days. Shopping around in February can get you a deal on a home listed in January that’s been sitting for a bit.
Homebuyers beware, those who purchase a home in the months of May, June, and July pay a higher average sales price. Waiting until the weather cools in September, October, and December may save you money, as it’s the time of year when buyers pay a lower average sales price.
The Best Time to Sell a Home in Phoenix
Sellers who want to beef up their profits will have to know the rules of Phoenix real estate. The first rule of selling your home in Phoenix?
List your home in June if you want the highest sales price. If you’re looking to sell your home quickly, homes sold in June and July only stay on the market an average of 38 days.
The market is warming in Phoenix, so if you’re interested in selling your home it might be a good idea to sell soon. In a warm sellers’ market, sellers can make a profit and get their homes sold faster.
How to Find the Perfect Phoenix Real Estate Agent
Whether you’re a seller looking to make a big profit or a buyer who’s looking for their dream home, Clever can help. If you choose to work with a Clever Partner Agent, then you’re choosing agents who are dedicated to getting you the most out of your real estate transaction.
Need another reason to work with a Partner Agent? How about a $1,000 Home Buyer Rebate (or up to 1% of your home’s sale price if it’s more than $500,000)?
Home sellers can save big, too. Clever Partner Agents are full-service real estate agents who work for a flat fee of $3,000 or 1% of your home’s value if your home sells for more than $350,000.
If you are looking for a great real estate agent in Phoenix, we’ve got you covered.