What's Up Southeast Valley? September 2020
9.11.2001 - Never Forget
Welcome back to our What's Up Southeast Valley for the month of September!
Since our last broadcast, there have been many changes within our community, environment, work life, home life and how we conduct our days, including kids going back to school in an online work environment.
We are in this together and will get through this together!
👀 Watch Our LIVE!
We Are Hiring
The Amy Jones Group is growing! We are hiring Real Estate Sales Professionals. With more than 150 families served in 2019 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 or send your resume to [email protected]!
📈 Market Update
💬 Covid-19 Market Response
Here are the basics - the ARMLS numbers for September 1, 2020 compared with September 1, 2019 for all areas & types:
- Active Listings (excluding UCB & CCBS): 8,028 versus 13,609 last year - down 41.0% - and down 5.3% from 8,477 last month
- Active Listings (including UCB & CCBS): 13,178 versus 17,577 last year - down 25.0% - and down 0.6% compared with 13,259 last month
- Pending Listings: 7,892 versus 6,350 last year - up 24.3% - and up 4.5% from 7,550 last month
- Under Contract Listings (including Pending, CCBS & UCB): 13,042 versus 10,318 last year - up 26.4% - and up 5.8% from 12,332 last month
- Monthly Sales: 9,225 versus 8,916 last year - up 3.5% - but down 12.5% from 10,543 last month
- Monthly Average Sales Price per Sq. Ft.: $194.85 versus $169.18 last year - up 15.2% - and up 1.9% from $191.16 last month
- Monthly Median Sales Price: $325,000 versus $280,000 last year - up 16.1% - and up 3.2% from $315,000 last month
The housing market remains extremely strong and continues to hit news heights. The closings in August were down from July, but this is partly due to August having fewer working days than July. The fact that pending listings and listings under contract rose between August 1 and September 1, tells us that demand is not weakening despite the lower number of closings. The balance between closed sales and contracts that have not yet closed has swung in favor of the latter.
We can see that supply remains very low indeed, but has only declined 0.6% over the past month. We anticipate that supply will start to grow over the next 30 days. This is because we are seeing far more new listings than we observed during the first half of the year. With the average price per square foot up more than 15% it is not surprising that this is tempting a few more sellers. In theory it should be tempting a few less buyers, but the low mortgage interest rates have kept buyer interest very high.
A startling figure is 26.4% - the amount by which listings under contract exceed this time last year. The level of growth is highly unusual.
Once again, supply is low and demand is high, so prices have to rise. The price increases have really started to accelerate over the past 2 months we now see appreciation over 15% measured by monthly $/SF and over 16% when measured by the monthly median sales price. This is even more shocking given that August is usually one of the weakest months of the year for pricing. By the time we get to year end, we can expect these numbers to be even higher.
So what’s the key takeaway? Know your options. If you own a home, get an updated evaluation of its value and the market conditions - and if you are buying, make sure your agent is savvy. Gone are the days that you can walk into a builder and hand them your money if you are a buyer and knowing how to navigate 12 offers if you are a seller isn’t for the faint of heart. The good news is, this is what we live for - this is why we’ve sharpened the tools in our toolboxes, brought on the best of the best in the industry at the Amy Jones Group (Did we mention that we were hiring? Who do you know?). We are in this together and if you are ready to see what this might mean for your family, reach out to us - we LOVE seeing it all come together for you.
🙌 Community Spotlight 🙌
The Gilbert Chamber of Commerce
Sarah Watts - President/CEO
Sarah Watts was named the President/CEO of the Gilbert Chamber of Commerce in July 2020. She joined the Chamber’s team in 2008, starting as an executive assistant and moving up to communications and marketing director, marketing and special events director, and then Vice President of Workforce & Community Partnerships in 2017.
Sarah has a demonstrated practice of cultivating relationships and building strategic partnerships with chamber members, community volunteers, education partners, local and regional chambers of commerce leaders to benefit the Gilbert chamber and its foundation. She also has played key roles in the chamber’s strategic planning, fundraising, workforce development and marketing.
Sarah believes in the importance of collaborative dialogue across industry sectors and job functions and places emphasis on bringing diverse groups together to solve the challenges that Gilbert may encounter. She established the chamber's business and education committee and the Tours for Teachers program and she designed the Business & Education Summit, an annual chamber event. She also is proud to have launched and maintained the Chamber’s Adopt-A-Senior philanthropic initiative.
Sarah is a summa cum laude graduate of Arizona State University’s Walter Cronkite School of Journalism and Mass Communication with a BA in Journalism, emphasis in Public Relations, and a minor in Communication (2002). She is a graduate of the Gilbert Leadership program (Class 21), and the U.S. Chamber of Commerce’s Institute for Organizational Management (2020) and Talent Pipeline Management (2019) programs.
Sarah lives in Gilbert, Arizona with her husband, Sean, two children, and two dogs.
Live.Love.Local - Connecting The Southeast Valley
In the last two months, we were able to connect with 5 local businesses and share their story with you through our social media website. 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
What To Do When You Sell Wednesday's
We have a new series LIVE on Facebook that we're so excited about! We want to provide all of the resources to you as possible during these uncertain times and strong real estate market. Low inventory provides a challenge to those who are looking to take advantage of receiving top dollar for their homes, releasing their equity or refinancing. Yes, it's a GREAT time to sell your home. But, then what? What are your options to find a home when inventory is low or the wait lists are long at new home build sites? We are here to help.
This week's topic was Pool Construction - How Does It All Work? The Amy Jones Real Estate Group kicked off the series with Dan White at Fairway Independent Mortgage where we talked about creative solutions for releasing the equity in your home, followed by a visit from Kurt Buckle at Taylor Morrison and this week we were joined by Bryan Waddle with Presidential Pools! Watch all of the recordings below for tips and reach out to us with any questions on what to do when you sell your home!
Market of The Moment
Every week, our preferred vendor, 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 it all of the recent broadcasts below starting with the one from this week!
Monthly Blog Review
Not a first time home seller but still 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 🙌
In Case You Missed It...
👏 Congratulations! Mazel Tov! ¡Felicidades!
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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...