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.

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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.

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