Cindy Nelson AZ REALTOR Blog

How long will it be before we hit a balanced market in the Phoenix metro area? In this brief video, I'll compare the 2005 real estate market to 2021, plus I'll explain what you can expect in the months ahead for both buyers and sellers.

Watch out Valley drivers! The Interstate-10 Broadway Curve construction project is underway.  The expected completion date is late 2024. The project is intense, so I recommend you check the project website often and sign up for traffic and construction alerts. 

Here are the improvements ADOT is making:

• Widening Interstate 10 to six general purpose lanes and two high-occupancy vehicle (HOV) lanes in each direction between US 60 (Superstition Freeway) and Interstate 17, and adding a fourth general purpose lane in each direction between Ray Road and US 60
•  Adding Collector-Distributor roads parallel to I-10 between Baseline Road and 40th Street to separate through-traff...

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Good News for Buyers. What's Ahead for Sellers as Demand Weakens.
Median Sales Price Up 29%, Fewer Contracts

For Buyers:
Buyers with budgets over $300,000 may be noticing that they have more listings to choose from compared to a few months ago. This is especially true in the price points between $400,000 and $800,000 where inventory has grown 92% since February. When a buyer has, for example, 4 or 5 homes available that meet their criteria instead of just one, they are less inclined to...

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TRUE STORY! Take a guess at how much one buyer paid for a Phoenix area home that once sold in 2014 for $379,275 then find out what the best tool is for buying a home in this current seller's market.

Remember, knowledge is power.  There is a report available that will show you what the median amount paid over list price is (current as of the last 30 days). This is helpful when competing with multiple offers. This is free for the asking - no strings attached. 

As a Trusted Advisor University member and a subscriber to the Cromford Report and MLS, I can provide you with all the data you need to help you understand the current market in the Phoenix area, whether you're buying or selling. Here's how you can reach me ... Cell: 480-535-0060 or E-mail cindy@myeasyhomesearch.com .

Here's a quick look at the Phoenix Arizona real estate market for November 2020.  You might be surprised at what's impacting the market the most. Hint: It's not all price increases. You'll also find out why first time home buyers and investors have far fewer homes to choose from.

Cindy Nelson is an Arizona native and Realtor with Realty ONE Group and serves the Phoenix Metro area and the White Mountain region.