September 2019 Market Update!
Market update!: Okay, we're into the second week of September 2019. What is the market doing when we look at home values?
What we're seeing is that here in the East Valley, so cities like Mesa, Gilbert,
Chandler, Tempe, we have seen that the number of homes for sale has dropped by about 23% year over year. So compared to this time last year, there's less supply.
Now, we've also seen that the number of listing sold has gone up by about 5%,
so what that's showing us is that there are a lot of people looking for homes but not as many homes for sale. And that means really we're in a seller's market.
If you have a home for sale, you have it up, fixed up nice, things are ready to go, your home is likely going to sell quickly. And so we see that when we look at the average days on market of homes has dropped. We look at the average price point, price point per square foot, price per home in total. All those numbers have all gone up. So that's what we're seeing right now in September 2019, is it is a sellers market.