November Market Update:
Although some reports still label parts of the Valley as a seller’s market, it doesn’t quite feel that way. Buyers are taking their time, days on market remain longer than most sellers would like, and success depends heavily on preparation and pricing. Overall, it’s a balanced market that offers good opportunities for both sides.
In Phoenix, months of supply sit around four, with a median price near $455,000 and homes taking about 49 days to sell. Scottsdale is showing roughly five months of supply, a median price near $990,000, and similar days on market. Paradise Valley has closer to seven months of supply, a median price around $3.9 million, and homes averaging just over a month on the market. Even with those “seller’s market” designations, these numbers reflect a more even playing field.
For sellers, the listings that are well-prepared, priced right, and presented beautifully are still moving faster than average. Homes that stand out with the right updates, staging, and marketing continue to attract serious buyers and sell with fewer negotiations.
For buyers, leverage comes in the form of seller concessions rather than big price drops. I’m seeing many transactions where sellers help cover closing costs or contribute to rate buydowns—reducing buyers’ total expenses and improving affordability. Prices remain relatively steady, but terms are flexible.
Rates have eased slightly from their recent highs, and inventory is up compared to last year, keeping the market active but reasonable.
Bottom line: this is a healthy, balanced market. Sellers who plan strategically are selling quickly, and buyers who stay patient and prepared are landing excellent value.
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