Deer Valley Real Estate Market Conditions & Reports, Deer Valley Market Trends, Arizona

Market Commentary Provided by Jaci Jensen CNE
Allow me to provide you with information on homes for sale in all areas of the Valley, so you can compare. I’ve worked in the Valley for the last 11 years and could move you in the right direction to fit your needs & lifestyle.

Report Date

Winter 2010

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CONNECT WITH A LOCAL PROFESSIONAL

Jaci Jensen CNE
Home Smart
Phoenix, Arizona
602-993-6211
jaci102@cox.net
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Nearest Metro Area

Phoenix

Buyers’ or Sellers’ Market

More buyers than sellers

Average Time on Market

30-60 days

Market Trend

Decreasing

Housing Inventory

Good supply - Some Prices

Inventory Comments

Less than 200k is a red hot seller’s market. Inventory is low (a five month supply) and prices are rising. Less than 100k has only a 90 day supply. If you are in that market, waiting to buy will likely be a very expensive wait. Up to about 400k the market is almost perfectly balanced (a 7.4 month supply) – with no price movement in either direction. 400 - 500k has a 9.5 month supply valley wide, with slight downward pressure on prices. 600 – 800k has a 13.7 month supply, with easily observable downward pressure on prices. Homes above 800k have almost a two year supply and those in the 2 – 3 million price range suffer from a six and half year supply. There, the rate of decline isn’t easy to even guess.

Average Home Price

$150,000 - View Graph Trend

Best Selling Price Range

$150,000 - $199,000

Worst Selling Price Range

$400,000 - $449,000

Compared to Last Year

Down 25-30%

Prices As % of Asking Price

95-100%

Multiple Offers?

Yes

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Deer Valley is

Increasing

Seller Activity for the past 90 days in Deer Valley is

Increasing

Is Financing Available For Qualified Buyers in Deer Valley?

Yes

Comments on Financing For Qualified Buyers

Call Tony Caraballo with PrimeLending for a prequalification at 480 538-4964, weekends or evenings for your convenience. Tony has an excellent track record with many of my clients. You will find his knowledge & service skills will benefit you. He will help you, explain your options and help us get you into a home without the stress. Apply on line at www.myzalender.com.

Existing Home Prices for the past 90 days are

Increasing

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

More than 50%

Housing Hot Spots

Reason to Buy/Sell

$8000 or $6500 Tax Credit expires April 30th, 2010! And, lower prices with a good selection and competitive interest rates creates a perfect time to buy in the Valley!

Average Sold Price

$150,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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