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4/9 Update: Sales are up, prices are up and inventory is down! Sales up 13% versus last month & 7% versus last year Inventory down 12% versus last year Avg Sales Price up 8%, median up 10% versus last year Distressed sales 2.2% short sales down 51%, lender owned dropped 33%

4/9 Update: Sales are up, prices are up and inventory is down! Sales up 13% versus last month & 7% versus last year Inventory down 12% versus last year Avg Sales Price up 8%, median up 10% versus last year Distressed sales 2.2% short sales down 51%, lender owned dropped 33%

Its heating up in Phoenix! Real estate Sales and prices are up. Inventory is down. It is a sellers market in most areas, especially at the lower price points Sales are up 13.6% versus last month. Sales up 7.4% versus last year. New inventory is down 6.4% versus last month, down 1% versus last year Average sales price up 7.9% Foreclosures are down 10.9% versus last year Lender owned sales dropped 33.3% compared to last year.

People often ask us “How's the real estate market? As you know it is pretty darn good. However, it truly depends on the price point, location and condition of the house, of course. Our office tends to think of it like this- there are really 4 markets right now, under 300k(on fire), under 600k, under 1M and over 1 M (slow) with different characteristics for each. Some cooling will take effect at some point because 8.8% price growth is not sustainable in the long run.

Here is what is going on at a high level here for Maricopa and North Pinal which comprises the ARMLS for your review:

Total Inventory —> down 11.5% (contributing to sellers market)Total closed Sales—> up 4% (pump up the volume)Average Sales price—&...

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Brand new luxury, development in North Scottsdale--Soho Scottsdale We just toured these beautiful 3 & 4 story town-homes with private roof top decks. Must see! Pre-selling Call us today to arrange a showing. Positioned to be the premier live/work community. CALL 480-692-1424!

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Larsen Real Estate

7975 N. Hayden Rd, #A101,

Scottsdale, Arizona 85258

Phone. 480-692-1424

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