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Maricopa County Real Estate Report:
A Monthly Overview of Market Statistics
October Sales by Transaction Type
Short Sales – 4.10%
REO/HUD Foreclosure – 7.50%
Traditional/Non- Distressed Sales – 88.40%
Sales by Loan Type
Total Sales 10/1-10/31 – 6,228
Total Cash Sales – 1,773
Total Conventional – 2,534
Total FHA – 1,354
TotalVA – 468
Today’s Mortgage Rates
30Year Fixed (Con) – 4.06%
15 Year Fixed (Con) – 3.25%
30Year FHA – 3.60%
Jumbo Loan – 3.96%
5/1 ARM – 3.25%
What Sellers and Buyers Need to Know
Homes priced below $150,000 are still selling quickly, but all other price points are requiring more time on market. Stage your home to make it as “model-perfect” as possible to increase your chances of selling quickly. Very few homes are being sold as-is, so prepare to make repairs to your home.
Interest rates are AWESOME, and we don’t expect them to stay this low forever. Buy now to lock in at a great rate! Sellers are more negotiable than they were a year ago, but active inventory is not at its peak anymore. The brief buyer’s market we experienced is showing signs of fizzling out.
I hope you have found this report beneficial. Although it provides a general overview of the market, it won’t take the place of a knowledgeable real estate professional.
Please contact me for area-specific market data or for information about buying or selling a home.