Month of August

Welcome back to our What's Up Southeast Valley for the month of August!

The real estate market is changing with each moment and we're finding new ways to continuing to connect with you, our community and local small businesses throughout it all! Welcome to Summer in Arizona, we are so excited to be on this journey with you!

We LOVE our clients, community, local businesses, giving back and serving YOU. Let's have an incredible month together!

👀 Watch Our LIVE! 

Join Our Team

The Amy Jones Group is RAPIDLY growing! We are hiring Real Estate Sales Professionals for our Gilbert office. On pace to serve more than 175 families in 2021 alone, we are looking for EXPERIENCED agents to join our Southeast Valley team. Known for our excellent client care, exceptional negotiation skills, world class digital marketing, and being trusted advisors in the SE Valley for more than a decade - we are looking for hard working, ethical, creative, real estate professionals who love to learn and thrive in a team environment, where giving back and giving to each other is important to our overall success. For more information on who we are and how to apply, visit https://www.amyjonesgroup.com/careers or send your resume to [email protected]!

Around Town This Summer

The welcome humidity of the Arizona Summer, albeit thick and sweaty and warm and generally out of character for our dry heat reputation, signals a light at the end of the tunnel for our hundred degree days and the coming months of absolute weather bliss where the parks will once again be packed with little feet and big bicycles, festivals and outdoor shopping, and all of the creature comforts of an Arizona Fall provided we can keep our not-so-friendly Covid-19 and his variant from joining the party. And while the sloshy front yards and dripping porches make showing homes a little more challenging in the unpredictable monsoon weather, the fact that we even have homes to show is as magnificent as the reflection of a night time thunderstorm off the Superstitions. In fact, the Valley has 140% more available homes for sale in August than it did just last quarter which might feel like a proverbial flood of supply to our landlocked little town but it is still just a sprinkle in the bucket as we’re only sitting at about a 2 week supply for a healthy number of folks trying to make the Valley their home.

Similar to the majority of cities across the Valley, we’ve seen a steady increase in homes coming to the Valley market since mid-March with a fast tracked plan to replenish our deficient supply over the last quarter. With days on market still declining and prices up another 7% since May, now might be the best opportunity that there has been all year to sell your home for top dollar and actually have somewhere to go. While the feeding frenzy of the earlier parts of 2021 is likely over, homes are still selling for 102.87% of asking price meaning that your average home in the Valley is still receiving multiple offers, seeing full or partial appraisal waivers, and some are still including lease backs for the seller although those are becoming slightly more rare and more reasonable in length. Sales are down about 24% year over year and demand is just 70% of what it was a year ago which is indicative of the healthy level of skepticism that some of our Valley buyers have after several months of shockingly fast rising prices and defeat from some of the fiercest negotiations we’ve ever seen in the Arizona real estate market.

As we make our descent to a more normal balance of supply and demand in Arizona, there will likely be a lot of erroneous assumptions about what is causing the regulation of prices including any major fluctuation in interest rates which we’ve seemed to avoid for now and an emotional disconnect for our sellers who have very quickly gotten used to double digit appreciation (and then some!) as compared to a more “normal” rate of annual appreciation like the 5% we saw in 2016. While new construction will continue to struggle to keep up with a lack of readily available building supplies, turn around times for build completions will continue to increase and sales prices will continue on an upward trend from the 15.4% annual appreciation our brand new communities have seen in the last year. Quick move-in homes are hard to find but are becoming more readily available and we’re starting to see many builders incentivize buyers again which is a welcome change to the buyer experience which has mostly included window shopping only without anything to show for it. 

Those who have been waiting for a sign that the Arizona real estate market is starting to level off a bit, are finally feeling what we’ve been reporting over the last five months but just like the monsoon weather, the cooler temperatures of fall, the brisk mornings of winter, and the hundred degree temperatures of summer - it always feels like it just came out of nowhere. With inventory tripling in some of our outlying cities, the active adult and luxury communities still strapped for available housing, and second home buyers returning to the market from cooler climates - it’s going to take quite a bit more supply for us to see any flattening of housing prices. 

Live.Love.Local - Connecting The Southeast Valley

Connecting with the community lights up our souls and we couldn't be more thrilled to get to know those who run our small businesses. It's so important that we support local, especially right now. Each business below is open, taking appointments, reserving parties and staying safe by following our state guidelines. Let's all do our part in keeping the economy alive, so that when it comes time to fully get back to life, we can all thrive once more.

BeLocal Business Buzz

Market of The Moment

Every week, our trusted Title partner, Don Czajkowski with Fidelity National Title has a meeting of the minds to talk about the ever changing real estate market, especially right now. This week, Mindy was a featured guest talking about inventory, new home builds, interest rates, tips to release the equity in your home, alternatives and options to give yourself more time to find a property to purchase when selling and what the Amy Jones Group has been up to this month. Check out all of the recent broadcasts below starting with the one from this week!

👏 Congratulations! Mazel Tov! ¡Felicidades!

None of this is possible without our amazing clients.
We'd love to help you or someone you love if we haven't already - or help you again!
Here are the buyers and sellers who made big moves last month...

 In Case You Missed It...