January 2017 Phoenix AZ Real Estate Market Trends Report and House Value
Understanding the general direction of the current market conditions for home prices in Phoenix AZ is of vital importance to both buyers and sellers to help you make a more informed decision when buying or selling a home in Phoenix AZ.
- New Listing had Increased 3.2% from January 2016
- January 2017 Average Sold Price for Single Family Home in Phoenix AZ was $278,301
- Median Sold Price in January 2017 was $226,350
- Most expensive homes sold was sold for $4,250,000
Number of Homes Sold in Phoenix AZ in January 2017
Based on January statistic, we saw 1,026 single family homes sold in Phoenix AZ compare to 994 of January 2016. That’s about 2.1% increased from a year ago.
Median Sold Price of Single Family Homes Sold in Phoenix AZ in January 2017
The median sold price for single family detached home in Phoenix AZ in January 2017 was $226,350. Compare to last year, median sold price in January 2016 was $210,500. That’s about 7.5% appreciation from a year ago.
2017 January average sold price in Phoenix AZ was $278,301 compare to $262,884 a year ago. That’s about 5.9% increased from January 2016.
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The statistic indicate that Buyers are paying more for a home compare to 1 year ago.
Educated and savvy buyers understand that a competitive market gives them fewer options for home choices – even when inventory increases. Although this may vary from zipcode to zipcode and from price range to price range, buyers need to make sure they are fully informed regarding the specific market in which they have an interest. This will give them the best chance of being competitive when making an offer.
As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.
Selling your home in Phoenix Arizona
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix AZ Home Price and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.
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If you are considering buying a home in Phoenix there is a sufficient inventory of homes to choose from and having a good real estate agent who understands the market is a must. Interest rates are still low so don’t wait too long on the sidelines; many listings when priced correctly are starting to sell within a few days of hitting the market.
Wondering how much house you can afford?
Click here to access the Mortgage House Payment Calculator. Simply add in the price of the home you are considering and the calculator will return your estimated house payment. Change length of loan and interest rates to adjust results.
Contact or call me at 480.721.6253 if you’re interested in knowing what your Phoenix home is worth in today’s real estate market or so we can discuss your housing needs. I look forward to talking to you and assisting with your real estate needs.
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