February 2016 MLS Market Report for Phoenix
Each month we analyze the Phoenix real estate market using the data from the Multiple Listing Service (MLS). This data includes number of homes sold, the median price of the homes sold, the number of unsold homes listed for sale, and the number of new listings that hit the market each month.
It's still a seller's market due to low inventory, however, this has not caused a significant increase in home values in the last 12 months. Sellers need to remain realistic and price their home in alignment with other sales in their neighborhood.
Buyer activity is increasing and multiple offer situations are still occurring, espcially in the lower priced homes. Prepare to meet some competition while searching for a home. Buyers should keep this in mind when they write offers on a property.
Click on the image below to access the February 2016 MLS Market Report for Phoenix. Please feel free to share this information with your family and friends.
