Merry Christmas and Happy Holidays to you all! December is one of the most wonderful times of the year! With festive decorations, joyful celebrations, and a general sense of cheer in the air, it’s hard not to be in a great mood. I find it easy to feel cheerful when the temperatures are in the 60s and 70s (or even low 80s) instead of the blistering 115 degrees we deal with in the summer. Add in the uplifting Christmas music and sparkling lights, and it’s the perfect recipe for holiday happiness. I hope you have a great December and get to spend some quality time with the ones you love!
Now, let’s talk about real estate! We are seeing our inventory creeping up and just topped the 22,000 number which is the first time we have had that many homes on the market in years! It wasn’t a quick jump (it’s been creeping up consistently for several years) so I’m not overly concerned but I’m watching it closely. Our interest rates are struggling to stay down. We had a couple of drops by the fed and we saw mortgage rates go down, but each time the rates went back up in the next week or so. If we can get the rates down we will see the home sales go up as there are a lot of buyers who just can’t afford a payment with the high rates. Low rates might just be one of the top items on my Christmas list!
Month over month, 85383 outperformed the entire MLS by just a hair. The entire market saw the average sales price go up by 2.33% and we were at 2.48%. The amount of homes that closed in 85383 was down from 107 to 94 but the days on market were better, dropping from an average of 73 days to 63 days! We also saw another home close for more than $2 million which is becoming a monthly occurrence in the UWS! We currently have 50 homes listed at $1 million or more! The highest being listed at $4,997,000!
If you ever have any questions about your home or the market (or when the best time to sell is) give me a call! I’m always happy to talk about real estate! Or if you need a great flooring company, plumber, etc., give me a call for that too and I’ll refer you to someone you can trust and who will do a great job!
Frank May grew up in the Valley, graduating from Northwest Christian School and Northern Arizona University. He is a real estate agent with RE/MAX Fine Properties and has been helping both buyers and sellers for over 20 years. He has been a Dave Ramsey Endorsed Local Provider (ELP) since 2003. Learn more at mayteam.com.
