By Jonathan Bodeen · 23 January 2017
We’ve told you that things are heating up on the ground level in our business, and that we are optimistic for a strong 2017.
What we haven’t told you about are the parts of the valley that are looking a little lackluster.
Buckeye – A balanced market, no advantage to buyer or seller.
Casa Grande – A balanced market, no advantage to buyer or seller.
Fountain Hills – A seller’s market but trending down
Paradise Valley – Has been slowing down since September from a high point and is now on the threshold of a buyer’s market.
Sun City and Sun City West – still seller’s markets but should be watched as they are trending down.
Even though these areas are experiencing a little weakness compared to the rest of the valley, they are looking very good compared to where we were at 3 or 4 years ago.
The jury is still out on the $500k+ markets. Once March and April roll around and we enter the real estate high season, we will have a much more solid idea of the health of these markets.
Overall the market remains healthy and, as an average, is firmly in seller advantage territory. This means that by in large buyers will face more competition with other buyers and will usually be paying much closer to full price as a result. Does this mean buyers should stay out of the pool? No! Interest rates are still historically very low and there are plenty of affordable homes out there.