What's Up Southeast Valley? May 2019
Bring On The May Flowers!
Welcome back for What's Up Southeast Valley!
Happy Mother's Day to All You Moms out there - Spring is in the Air!
👀 Watch our LIVE!
Happy Mother's Day from Our Family to Yours
With so much going on this month from events to market updates to school activities and MORE - we just want to take a moment to wish all you mommas out there a very happy Mother's Day (May 10th in Mexico and May 12th in the United States)! We know that moms come in all shapes and sizes, some by choice and others by birth, some by blood relation and others by geographic location, some are in our lives for a short period of time but ALL of them are in our hearts forever. Don't miss our feature on ASA Now down below on foster families - and be sure to hug the mommas in your life a little tighter this month. Here's a few of our favorite family pics from the mommas at the Amy Jones Group - Lots of love to you!
📈 Market Update
💬 What the Market Says
Starting with the basic ARMLS numbers for May 1, 2019 and comparing them with May 1, 2018 for all areas & types:
- Active Listings (excluding UCB): 17,513 versus 16,329 last year - up 7.3% - but down 6.1% from 18,650 last month
- Active Listings (including UCB): 23,650 versus 21,440 last year - up 5.6% - but down 3.2% compared with 23,399 last month
- Pending Listings: 7,326 versus 7,393 last year - down 0.9% - but up 5.3% from 6,958 last month
- Under Contract Listings (including Pending, CCBS & UCB): 12,463 versus 12,504 last year - down 0.3% - but up 6.5% from 11,707 last month
- Monthly Sales: 9,676 versus 9,185 last year - up 5.3% - and up 13.9% from 8,496 last month
- Monthly Average Sales Price per Sq. Ft.: $171.80 versus $162.84 last year - up 5.5% - but down 0.1% from $172.04 last month
- Monthly Median Sales Price: $270,000 versus $255,000 last year - up 5.9% - and up 1.5% from $266,000 last month
👉 What It Means For You
Last month we saw strong growth in listings under contract. This month we see strong growth in closed listings. This is why listings under contract is such an important number - it gives us early warnings of a change in the market. On this occasion the change is strongly positive for sellers. Sales are not only recovering, they actually exceeded April 2018 by 5.3%. Now those in the know are aware that April 2019 had a 4.8% advantage over April 2018, because it contained 1 additional working day. Many people tend to forget how significant the number of working days can be in retarding or advancing sales counts. But even allowing for that unfair advantage, April returned higher sales per day than April 2018. In fact April 2019 was the strongest month since 2005 for unit sales.
Currently the listings under contract count is almost the same as last year, so we should expect closed sales in May 2019 to be similar to May 2018. Both have 22 working days so this will be a fair fight.
New listings have been flowing a little more freely since March - we know sellers get encouraged by lower interest rates as well as buyers. However the new higher level of demand is making short work of the extra supply and active listings without a contract dropped over 6% during April. Supply is higher than last year, but it is falling more quickly than it did in 2018.
As we predicted, prices are rising, but at a slower pace than in 2018. The median sales price was up 5.9% compared with a year ago, while the average $/SF was up 5.5%.
👩🏻💼 What You Can Do
The market continues to strengthen and the likelihood of falling prices in the near term is minimal. We have extremely low levels of distress, chronic low supply and the best buyers can hope for is that the appreciation rate will trend lower. We think that is a reasonable expectation, but it it shows no sign of turning negative. It would take a very different set of numbers from the ones above for that to be a possibility.
All in all, the market is more vibrant now than almost anyone expected it to be. This is good news for sellers, agents, title companies, lenders and developers. If interest rates start to rise again then we may see another mild slowdown, like we experience from September 2018 to February 2019, but at the moment the market engine is firing on all cylinders once more.
If you're looking to buy a home, Contact us today and we can help you create a realistic timeline for purchasing a home and put you in touch with one of our trusted lenders who can show you many different options to help finance your dream home purchase.
If you're looking to sell your home, make sure you receive an accurate and up-to-date home valuation. Since we're in a Seller's market and getting more competitive, you'll want to hire a team of experts who have top negotiating skills, cutting-edge marketing, and extensive market knowledge.
📰 In the News
Red Day: Annual Day of Service
Every year, the Amy Jones Group participates in Keller Williams Annual Day of Service in May called Red Day - named for the RED t-shirts that ascend on non-profits and communities in need internationally and the acronym for the day that stands for Renew, Energize and Donate. The annual day of service occurs on the second Thursday of May every year and gives us the opportunity to give back to the communities that we live and work in. This year, The Amy Jones Group joined more than 100 agents from the Keller Williams Integrity First office and helping ASA Now prepare to open Mesa's first community center dedicated to the support of children and families who have been impacted by the foster care system. We assembled bookshelves, sorted clothing, dug trenches and added irrigation lines, and prepped their playground for what will become a home away from home for these families. The support for this organization was overwhelming and we couldn't be prouder to have been a part of the day. If you have an organization near and dear to your heart, we'd love to hear about it! Email us at [email protected] or give us a call at 480-250-3857 and let us know how we can help you!
It's time to sort these donations!
Hard at work with baby bump in full view!
Say CHEESE! We get more than we give!
🙌 Vendor Spotlight
CC & R - Home Improvement Specialists
CC&R has been serving the Valley for 30 years. Their core value is to be of service to others, to live and serve with integrity, responsibility, and deliver open communication to clients.
They repair, replace or remodel almost anything in the residential and commercial spaces including Kitchens, Bathrooms, Electrical, Paint, Plumbing, Doors, Inspection Repairs, Stucco, Roofing, Flooring, Drywall, Windows, Garage Epoxy, Clean Ups & More!
Their goal is to leave you completely satisfied and excited to refer them to your friends and family in the future!
You can reach CC&R at 602.570.3355, online at www.Callccr.com or by email at [email protected]
🙈 In Case You Missed It...
🔥 HOT on the Market! Don't Miss out!
🚪 Amy Jones Group Open Houses
👏 Upcoming Events
FREE Movie in The Park - Mary Poppins Returns
Join us May 10th for a movie in the park. We will be showing Mary Poppins Returns at 7:30pm in the basin directly outside of the Gilbert Community Center. Come early to enjoy our vendors! Outside food is welcome! Free popcorn from the Amy Jones Group, first come first serve. Parking available in our lot, the Boys and Girls Club and in the lot on the NW corner Gilbert and Elliot Roads.
Please call 480-503-6290 for more information.
Amy Jones Group VIP Client & Referral Happy Hour
The Amy Jones Group is excited to get together with our past clients and the friends and family that you choose to refer to the Amy Jones Group each month at OHSO Brewery & Distillery in Downtown Gilbert. This month we'll be getting together on Thursday, May 16th from 4:30-6:00pm. If you are a past client of ours or have someone that you know that we can help with their real estate goals, please RSVP to [email protected] or give us a call at 480-250-3857 - we would love to see you. Drinks and snacks on us!
🙉 Spoiler Alert
SAVE THE DATE: Summer Client Appreciation Event
We are so excited to announce that we've picked the movie for our Summer Client Appreciation Event! Every year, we rent out a theater, throw in some popcorn, 200 of our favorite clients and check out a new release together. It's a chance for us to SEE you, THANK YOU, and hang out with you - our clients!
This year the Amy Jones Group Summer Client Appreciation Event will be held Saturday July 20th, 2019 and we'll be seeing The Lion King in live action! We can't wait for this movie to hit theaters and hope you guys are just as excited as we are. Be sure to mark your calendars and save the date. More details to come!
👏 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...