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Market Update
January 2018

FROM MICHAEL ORR AT THE CROMFORD REPORT
THE PHOENIX AREA LEADING EXPERT ON REAL ESTATE ANALYSIS.


2017 MLS Sales up 6% over 2016 | Over 50% of 2017 Sales Were in this Price Range….

For Buyers:

2018 is not going to be any less competitive for buyers in general. The market is starting out with 14% fewer listings compared to 2017, however there are 35% fewer listings under $200K, a price range that commands 34% market share of all MLS resales in Greater Phoenix. 51% of MLS sales were between $200K-$400K in 2017, and supply in this range is down just 7%. 14% of sales were between $400-$1M and supply is down nearly 9%. Only the market over $1M is starting 2018 with 4% more for sale, 2017 sales over $1M were less than 2% of the market.

For Sellers:

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