Happy New Year!

Welcome back to our What's Up Southeast Valley for the NEW decade!

Check out what the Real Estate Market is doing, our upcoming events and what The Amy Jones Group has been up to for the last month!

👀 Watch Our LIVE! 

Working Around the Valley!

Over the course of the past month, we have been busy! From welcoming the New Year, spending time with family & friends, helping clients find and settle into their dream homes, holding open houses and meeting new people, coaching and training agents across the Valley, growing our team, and posting our favorite finds on our Facebook and Instagram pages, we are loving every second of helping YOU move forward in 2020.

📈 Market Update

💬 What the Market Says

Here are the basics - the ARMLS numbers for January 1, 2020 compared with January 1, 2019 for all areas & types:

• Active Listings (excluding UCB & CCBS): 12,141 versus 17,339 last year - down 30.0% - and down 12.5% from 13,869 last month
• Active Listings (including UCB & CCBS): 15,018 versus 19,900 last year - down 24.5% - and down 14.6% compared with 17,577 last month
• Pending Listings: 4,662 versus 3,740 last year - up 24.7% - but down 20.5% from 5,864 last month
• Under Contract Listings (including Pending, CCBS & UCB): 7,539 versus 6,301 last year - up 19.6% - but down 21.2% from 9,572 last month
• Monthly Sales: 7,764 versus 6,457 last year - up 20.2% - and up 8.7% from 7,142 last month
• Monthly Average Sales Price per Sq. Ft.: $179.92 versus $165.21 last year - up 8.9% - but almost unchanged from $179.90 last month
• Monthly Median Sales Price: $289,500 versus $260,500 last year - up 11.1% - and up 3.0% from $281,000 last month

The lack of supply can only be described as shocking. A 30% decline since this time last year to reach the lowest level since August 2005. THIS to satisfy a population that has grown more than 20% since 2005! Anyone who thinks this severe shortage will not result in a significant rise in prices is going to have another thought coming pretty soon. The median sales price is already up 11% over the last 12 months and the average price per square foot is up almost 9% and probably heading for a double figure appreciation rate.

We note that December 2019 contained 21 working days and December 2018 contained 20, giving 2019 a 5% advantage. However unit sales were up more than 20% so making an allowance for the advantage still gives 2019 a win by 15%. The listings under contract count is less impressive. While it is almost 20% up from last year it had been almost 24% up at the start of December, so gave back a little of its lead. Only a little mind you. We are clutching at straws here to find something indicating a little cooling in the market...really things are HOT.

Demand remains higher than normal but the Cromford® Demand Index has eased from around 107 to around 103 over the past 4 weeks. This will not make much of a difference while supply remains under half of what is needed for a balanced market so...

👉 What It Means For You

Buyers are hoping that a surge in new listings will arrive over the next 12 weeks. We hope that sellers will be tempted by the higher pricing they can achieve and start to get their homes on the market in greater numbers. If they are staying around Phoenix, they will have to pay more for their new home, so it really doesn't make sense to try and time the peak of this long running sellers market. Phoenix is currently the strongest large-city housing market in the USA and this is fueled by inter-state population movements. Retirees are a big part of that, but so are people moving here from California and other Western states for work and the lower cost of living. Demand is likely to remain healthy despite the rising prices.

👩🏻‍💼 What You Can Do

If you're looking to buy a home, Contact us today and we can help you put in action a plan that works for you and your family and help you take advantage of appreciating neighborhoods. Whether you are looking to make a move now or five years from now, it's never too early to sit down and game plan! We've got lots of options for financing and access to all of they valley's new construction inventory!

If you're looking to sell your home, we can get you an up-to-date home valuation. Despite being in a strong seller's market, cancellation rates are high from panicked and finicky buyers so you'll want to hire a team of experts who have top negotiating skills, cutting-edge marketing, and extensive market knowledge to help you get from listed to SOLD.

 🙈 In Case You Missed It...

🔥 HOT on the Market! Don't Miss out! 

👏 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...