The Real Estate Market in the Phoenix East Valley continues to show improvement. Almost all cities show a reduction in active listings and steady buyer activity. Interesting to note that homes that are selling are typically NOT short sale listings. In Maricopa where there is a very high ratio of short sale listings for example, of the 48 homes that went under contract last week, only 5 were short sale listings. We continue to see a high value in homes that are well cared for with a seller who has realistic expectations. This is the type of home that IS selling.
The East Valley just last week dipped below 12 months of inventory. In a normal, balanced market we carry an average of 6 months worth of inventory.
There was 15.7 months worth of inventory in the East Valley during the last week of October, 2007. We have experienced a gradual reduction in that inventory most noticeably over the last 4 weeks and this could be confirming that we have finally hit bottom. If so, we should notice a plateau over the upcoming months with a gradual return to normal appreciation. Good news for homeowners in the East Valley!
For more Information visit Chandler Arizona Real Estate. This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite. Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee,
Yes, McDonald’s is going upscale with the first restaurant of it’s kind in the state. Featuring plasma screen tvs, wireless internet access, a toddler play area and booths with high leather backs. Ooo la la!