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Market Pulse – Phoenix November 2020

by | Nov 18, 2020 | Buying, Phoenix, Selling

Thinking about buying or selling a home?

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As we head into the holiday season, the Phoenix market is hotter than ever. And with coronavirus cases on the rise, we at Trelora will continue to take the utmost precautions, and we remain committed to serving your needs with safety as our top priority.

All stats below are based on End of Month in September vs October:

  • Homes on the market – 12,296 vs 12,449 (up 1%)
  • Average days on the market – 45 vs 42 (down 7%)
  • New homes on the market – 10,940 vs 11,289 (up 3%)
  • Homes sold – 9,647 vs 10,038 (up 4%)

What should I do as a seller?

If you’re a seller, now is definitely the time to sell. Average and median days on the market are super low. And we can’t predict what will happen when spring arrives. 

And if you’re concerned about moving during the holiday season, we can help you negotiate a Post Closing Occupancy Agreement (Seller Rentback) so that you can close in December but move in January.

However, if your house has already been on the market for longer than a month, it’s possible your listing might be getting disregarded by buyers because of your pricing, staging, location, and so on. Make sure you dig into this further with our agents and fix what you need to fix. 

Additionally here are a few blogs that might help you as a seller:

What should I do as a buyer? 

If you’re a buyer, we know it’s a competitive market, but keep swinging the bat. Many buyers are going to give up in the next few weeks and will decide to wait until 2021. Be patient and persistent – our agents will help you land your dream home. 

Also, you’re still catching a huge break with the very low rates, sometimes as low as (or even lower than) 3% for a 30-year mortgage. That allows your money to stretch much further than it did at this time last year. 

Additionally here are a few blogs that might help you as a buyer: 

When you hire Trelora, you pay just 1% to sell your home. You’ll also get best-in-class customer service, and a team of expert agents who close hundreds of deals per year. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Los Angeles, Phoenix, Raleigh, Sacramento, Seattle and Tucson. In the meantime, please stay healthy and safe.

Kind regards,

Rod Ward
Phoenix Market Director
Sold over 1,000 homes

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The information contained in this blog is for general information purposes only, and while believed to be accurate, Trelora assumes no legal responsibility for accuracy. Information provided within should not relied upon as legal advice. Please consult with your local advisors for independent information regarding availability and applicability in your market.