Some exciting news from Eric Williamson Realtor.
We have been busy selling homes ($7.4 million dollars in volume year to date) however I came across an opportunity to serve my clients in a much more efficient way, deliver better customer service to all my clients and increase my personal sales production by joining the Hague Partners at 72 sold- https://haguepartners.
com | https://72sold.com/ .
The model at Open Door is great for some people but after 6 months I decided it was not a good fit for me so I found a new home at the Hague Partners and I am"too the moon" excited to be here! FYI they are the #1 brokerage per agent in sales volume and listings sold for 29 months in a row in the entire state of Arizona, what a winning team to be on!
Also My daughter Hannah turned 1 - look at this baby, the love of my life!!!!
Now into the good stuff- what is going on in the Arizona Real Estate Market!
Arizona Housing Market update!
This real estate market is great, there is not a crash coming so nothing to worry about. We are in a long term housing shortage nationally, so real estate values especially in our market in Arizona are going to be strong and continue to be a sound investment.
-Sales are down -3.7% month-overmonth. The yearover-year comparison is up +33.0%.
- New inventory is down -7.1% month-overmonth while the year-over-year comparison increased by +10.4%.
- Months supply of inventory for April was 0.96 with May at 1.05.
- The average sales price is up +43.2% year-over-year while the yearover-year median sales price is also up +32.2%.
iBuyers and Institutional Buyers We currently have four iBuyers active in Maricopa County: Opendoor, Offerpad, Zillow and Redfin. The iBuyers have a buy and sell philosophy while the Institutional buyers have a buy, hold and rent strategy. In May iBuyers accounted for 3.72% of all purchases in Maricopa County while the Institutional buyers had a market share of 4.98%.
We are still in a strong sellers market but we have seen some small trends showing the market is cooling slightly. Last month the STAT mathematical model projected a median sales price for May of $386,500, which slightly underestimated the May reported median of $390,000. Looking ahead to June, the ARMLS Pending Price Index is projecting a median sales price of $400,000. When the June median sales price is reported we are projecting a year-over-year gain of 31.15%. We began June with 6,766 pending contracts, 4,077 UCB listings and 307 CCBS giving us a total of 11,150 residential listings practically under contract. This compares to 12,577 of the same type of listings one year ago. At the beginning of June, the pending contracts were 11.3% lower than last year. There were 22 business days in June of 2020 and 22 this year. ARMLS reported 9,508 sales in June of 2020. The highest sales volume ever in June occurred in 2011 when ARMLS reported 10,345 home sales. We will see where June numbers end up!
I do want to let you all know I am always here to serve you in any way you need to help get you to your real estate destination and achieve your real estate goals!
If ever I can be of service to you, family, friends or anyone looking to buy or sell please let me know and I value the opportunity to work with them and the referrals you send my way.
The Hague Partners