× Home Our Listings Market Update MLS Search Community Info CC&R's Testimonials About Us Concierge Contact Rental Application

Market Update
November 2018

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


New Listings Up 18% in October between $250K-$400K | The 4th Quarter is Seasonally the Best Time to be a Buyer

For Buyers:

Seasonally the 4th Quarter is the best time to be a buyer and this year is no exception. Typically buyer contract activity is at its strongest from March through May and weakest between November and January. Buyers who were out-bid by competing offers last Spring will have a different experience now. October saw 18% more new listings hit the market between $250K-$400K compared to last October while buyer contracts are about the same within the same price range. There was only a 1% increase in new listings in the lower price range between $200K-$250K but a 12% drop in buyer contracts which caused overall supply to rise another 11%. The market is still a seller's market, but more seller competition for fewer buyers translates into more price reductions and seller concessions until the Spring "Buyer Season" is upon us once again.

For Sellers:

T