Phoenix Area Markets

2 Replies

I happened to be on Redfin and Zillow this morning and was just punching in random large cities to see what their markets looked like. I noticed that the Phoenix area properties seemed significantly cheaper than the other larger cities across the country. Could someone shed some light on the current Phoenix market for me please? Thanks in advance.

Originally posted by @Pike Pickett :

I happened to be on Redfin and Zillow this morning and was just punching in random large cities to see what their markets looked like. I noticed that the Phoenix area properties seemed significantly cheaper than the other larger cities across the country. Could someone shed some light on the current Phoenix market for me please? Thanks in advance.

 Hello Pike,

BP will delete any ARMLS information that I post, so if you will PM me your email address and what kind of information you need I will send it. In general, Phoenix was ground zero for the crash but has rebounded to nearly pre-crash levels. Rents have also been rising. Housing demand is about normal but the inventory is low. For August 15, sales $/SF of $161.94 averaged for all areas and types from ARMLS, down 0.2% or 29 cents from the $162.23 for July 15. Pending listings were an average list $/SF of $165.44, down 0.6% from July 15 and made up 96.9% normal, 1.2% in REOs and 1.9% in short sales. This downturn is probably seasonal, but the trend overall is up.

As always, don't trust the internet, seek professional advice.

Originally posted by @Pike Pickett :

I happened to be on Redfin and Zillow this morning and was just punching in random large cities to see what their markets looked like. I noticed that the Phoenix area properties seemed significantly cheaper than the other larger cities across the country. Could someone shed some light on the current Phoenix market for me please? Thanks in advance.

Not sure what you are looking for. I keep reading that inventory is tight here, but I have 3 properties I just bought using owner financing that I am turning around to investors. I found these "off market'. I think it may be that the MLS listings are difficult for investors to find cash flowing properties, but "off market" is not having the same problem. The properties here are great at cash flowing when bought properly.

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