*PRICE per SQUARE FOOT NOT LOOKING GOOD for PHX* A quick glance at the weekly average price per square foot for active listings tells us that list pricing is now slightly lower than it was at the same point last year. week 17, 2014 = $175.83 week 17, 2013 = $176.42 This is the first time this has occurred since week 30 of 2011, just before we hit rock bottom. Although the monthly average $/SF for sales price is still looking encouraging for sellers, the $/SF averages for active and pending listings are showing signs of weakness. This suggests that the second quarter of 2014 may hit a short term top in sales pricing. The second half of the year is the most likely time for sales prices to ease up. However current market readings suggest that any sales price weakness is not likely to be severe. If youre looking to sell, make sure youre house is priced appropriately. To know how much your house is worth in todays market, please reach out to us for a FREE evaluation. #arizonarealestate #realestate #phoenixrealestate
Posted on: Mon, 28 Apr 2014 18:12:57 +0000
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