What's Up Southeast Valley? June 2021
Month of June
Welcome back to our What's Up Southeast Valley for the month of June!
The real estate market is still busy and we're continuing to connect with you, our community and local small businesses!
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
Women in Leadership Breakfast
Taking a look at how we kicked off the month, here are the local listing stats for June 1, 2021 compared with June 1, 2020 for the valley:
- Active Listings (excluding UCB & CCBS): 4,917 versus 11,917 last year - down 68.7% - and down 3.2% from 5,080 last month
- Active Listings (including UCB & CCBS): 9,361 versus 17,171 last year - down 45.5% - and down 0.8% compared with 9,439 last month
- Pending Listings: 7,873 versus 7,224 last year - up 9.0% - and up 0.6% from 7,829 last month
- Under Contract Listings (including Pending, CCBS & UCB): 12,317 versus 12,478 last year - down 1.3% - but up 1.1% from 12,187 last month
- Monthly Sales: 9,692 versus 7,045 last year - up 37.6% - but down 5.0% from 10,204 last month
- Monthly Average Sales Price per Sq. Ft.: $248.37 versus $179.79 last year - up 38.1% - and up 2.0% from $243.39 last month
- Monthly Median Sales Price: $390,000 versus $293,000 last year - up 33.1% - and up 4.6% from $373,000 last month
We note that the number of active listings is slightly higher than last month. That is entirely because June 1 fell on a Tuesday while May 1 fell on a Saturday. Saturdays tends to have much higher counts because of all the new listings activated on Thursday and Friday. In contrast, Tuesdays and Wednesdays have the lowest counts every week. If we compare the same day of the week, the number of active listings is up from last month by about 7%. When supply is this low, the signal to noise ratio is poor, so we have to look more closely to get a correct impression. Supply is definitely rising, but not at a rate to help buyers very much, or to raise an alarm. It is rising because new listings are coming along at a faster rate than normal. However most of them are getting offers in the first week and they do not last very long. The market remains very hot even though it has cooled since March.
The demand numbers are moderating, with monthly sales down 5% compared with last month. However listings under contract are up slightly which means the downward trend in demand has stalled for now.
Getting prequalified is the first step!
Dan White - Fairway Independent Mortgage
Dan has been “Lending with a Smile!” since 1995. He is a firm believer that in order to truly help someone that we need to know as much as we can about the individual and their needs, so by the time you get the keys to your new home the two of you will be friends! His desire is to make the process of homeownership fun, smooth, and enjoyable for everyone involved. He wants this experience of buying a home to make you smile!
The rate of change in both supply and demand are both now moderate, but the rate of change for prices remains very high. We are seeing appreciation rates of 38% if you use price per sq. ft. or 33% if you use monthly medians. Both of these are flattering because part of the rise is due to high end homes taking a larger share of the market than normal for June. But however you measure them, home prices are at nose-bleed levels and will continue to rise while supply remains dramatically below normal. It is 76% below normal at the moment.
The period since June 2020 has been a painful 12 months for buyers and many are likely to be feeling bruised and beaten up. It would not be surprising if demand weakened further because of this, but withdrawing from the market is unlikely to be wise from a financial perspective. Prices still have a quite a lot of upward momentum and mortgage rates could easily move higher than today. Local buyers need to remember that to a buyer from California or Washington, Phoenix still looks like amazingly good value for money, even after another 20% price hike.
Market of The Moment
And what is your alternative? Rents continue to climb at a steep rate and are unlikely to stop rising. At least if you buy a pricey home today you will benefit from the price growth tomorrow in the form of home equity. None of your rent payment will do that.
Sell Now, Move Later
We get it, you have a lot of equity in your home and would love to sell, but where would you go? We hear a lot of concern about sellers being able to find their new home. Interest rates are low and the market is hot, so do not let fear stop you from taking advantage of these opportunities. Our buyer specialists are here to help home buyer’s find the right home, even in this fast paced market with:
- Programs Available to Free Up Your Equity
- Opportunities to Sell Now and Move When You Are Ready
- Access to Off-Market and Coming Soon Properties
- Actively Prospecting to Find New Homes
- Ready to Sell Marketing
- Our Buyer's Needs to Potential Sellers
- Writing Competitive Offers to Win in Today's Market
🙌 Community Spotlight 🙌
ICAN - Positive Program For Youth
Matt Julian - DreamBIG Chair
ICAN is a free youth center in the East Valley that offers programming for youth, teens, families and the community. ICAN’s nationally-recognized prevention programming teaches disadvantaged youth real-life skills including goal setting, positive decision making and how to avoid the risky behaviors that are prevalent in the community ICAN serves. ICAN’s evidence-based programming equips youth to achieve personal and academic success. Parenting classes and substance abuse education complete ICAN’s programming, impacting the entire community.
ICAN is accredited by the National Council on Accreditation, was recently named “Outstanding Afterschool Program” by the Arizona Center for After School Excellence and was a national winner of the 2015 National Exemplary Award for Innovative Substance Abuse Prevention Programs. For more information about ICAN, call (480) 821-4207 or visit www.icanaz.org.
8 out of 10 young people in the areas we serve are living in extreme poverty. Four of those children will go to bed hungry at night and eight will be using drugs or alcohol to cope with the harsh realities they face. Joining gangs becomes a more viable choice than graduation in the community we serve. This is not an option for ICAN. We exist to combat these issues and build strong futures for them and for our community.
Amy Jones Group Events
Annual Business Awards
Wednesday, June 16th at 11:00 am
Celebrating Greatness in Gilbert!
At this annual celebration, we will deliver the Chamber's Year In Review, honor the volunteers who serve the Chamber, and announce the recipients of this year's awards!
View the 2021 Annual Business Award Finalists and register: http://business.gilbertaz.com/.../annual-business-awards...
Presented by Meadows Bank.
Meet & Greet Mixer
Tuesday, June 22nd at 4:30 pm
Are you new to the Gilbert community, love living here or are looking to be in or a part of a local publication to spread the word about your local business? We would LOVE to invite you to our upcoming Meet & Greet Mixer to welcome those who are new to the Gilbert Community or are current BE Local partners!
Join us for food, drinks & fun while meeting your neighbors and discovering new local businesses!
Here is our schedule for the rest of 2021:
Tuesday, August 24th
Tuesday, October 26th
Tuesday, December 14th (Tentative)
Local Business Mixer
Thursday, July 1st at 4:30pm
Join the Amy Jones Real Estate Group for our quarterly business mixer!
As one of the top real estate groups in the Valley, we are always looking for new businesses to share with our clients.
Come by Parlay Kitchen to meet our team of fantastic agents, as well as other local businesses!
This event is being sponsored by our friends at Fidelity National Title Agency - Copper Point.
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.
Amy Jones Group Events
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!
Monthly Blog Review
Have questions about selling your home? Afraid of what happens if you sell and don’t have somewhere to go?
Not sure how refinances, home equity lines of credit, or renovation loans work?
Check out this video series for YOU below!
🚨 HOT On The Market 🚨
🏡 Open Houses 🏡
👏 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...