January 2017 MLS Market Report for Phoenix
What Sellers and Buyers Need to Know Heading Into Spring:
Sellers:
January saw a decrease in sales last month, which was expected. The changes in Washington, along with downpayment assistance programs reaching the end of the available funds, may have something to do with this. The average Days on Market is increasing, and inventory remains low. Remember "pretty homes' sell faster and for more money...have your home in tip-top shape to secure the best offer(s) from buyers. How you stage your home could have a big impact on the bottom line.
Buyers:
Despite concerns, interest rates remained relatively stable over the last 30 days, but we expect to see gradual increases throughout the year. Nearly 27% of the sales last month involved cash buyers, so a reminder to Buyers with a loan…you will often get a good price or good terms (concessions/contingencies), but rarely both. Be prepared to write your offer accordingly.
The monthly report is ready for you to view or download. Click on the image below to access this month's market report. Please feel free to share this information with your friends and family.
