Fall, Football & Halloween!

Welcome back to our What's Up Southeast Valley for October!

Here are our latest updates - 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 helping clients find and settle into their dream homes, holding open houses with incredible goodies, coaching other agents in the Valley, growing our team, posting on our Facebook and Instagram pages, holding a successful Business Mixer, and our first Movie Event of the season, we are loving every second of helping YOU move forward!

📈 Market Update

💬 What the Market Says

The market is still obviously hot and remarkably seller leaning. The Cromford® Market Index stayed over 200 for the second month since 2005, but failed to rise further. Between September and December we always see active listings grow each year. October in particular is a very popular month for getting your home on the market. While sales activity typically declines this time of year despite our Winter visitors, the percent of properties bought and sold this time of year is actually quite consistent with other months of the year once you account for the decreased availability.

 Here are the basics - the ARMLS numbers for October 1, 2019 compared with October 1, 2018 for all areas & types:

• Active Listings (excluding UCB & CCBS): 13,755 versus 16,819 last year - down 18.2% - but up 1.1% from 13,609 last month
• Active Listings (including UCB & CCBS): 17,592 versus 20,303 last year - down 13.4% - but up 0.1% compared with 17,577 last month
• Pending Listings: 6,011 versus 5,195 last year - up 15.7% - but down 5.3% from 6,350 last month
• Under Contract Listings (including Pending, CCBS & UCB): 9,848 versus 8,679 last year - up 13.5% - but down 4.6% from 10,318 last month
• Monthly Sales: 7,987 versus 7,067 last year - up 13.0% - but down 10.4% from 8,913 last month
• Monthly Average Sales Price per Sq. Ft.: $169.58 versus $161.31 last year - up 5.1% - and up 0.2% from $169.19 last month
• Monthly Median Sales Price: $279,500 versus $260,000 last year - up 7.5% - but down 0.2% from $280,000 last month

Compared with August 2019, September gave us

• A slight increase in active listings
• A noticeable drop in demand numbers (sales, pending, under contract)
• Very little movement in sales pricing
• A large upward movement in for-sale pricing
• A large upward movement in under contract pricing

The first 3 of these are to be expected every year in September. The last 2 are not so common and are the first sign of the significant up-tick in pricing that inevitably follows a major move higher by the Cromford® Market Index. It would be surprising if we do not see a corresponding move higher by sales prices over the next several months. Remember, there is opportunity for everyone in every market - and while it is a seller's market, it can still be a buyer's moment.

👉 What It Means For You

Listings under contract gained more momentum when compared with 2018 but fell sequentially (as is normal every year), meaning that more houses are being sold despite there being less to choose from!

Mortgage interest rates have plummeted since January creating an unexpected jolt of affordability into the housing market. In most circumstances, greater affordability translates into strong demand.

Demand usually subsides between July and January every year so unless a brand new trend develops, we should see new listings maintain enough momentum to keep active listing counts from falling much further, if at all. However when demand grows again in February we can expect a mad scramble for the few good properties left.

👩🏻‍💼 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!

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...