Enjoy this Maricopa County Real Estate Market Report for this month.
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Contents
Statistical Market Summary – August 2020
Average Sales Price $402,009
| Last Month | Last Year | |
| Active Listings | 🔻 2.1% | 🔻 40.0% |
| Pending Listings | 🔼 4.1% | 🔼 17.9% |
| Sold Listings | 🔻 12.6% | 🔼 4.5% |
| Average Days on Market | 🔻 9.7% | 🔻 13.0% |
| Average Sales Price | 🔼 2.1% | 🔼 15.7% |
Buyers: Interest rates remain at historic lows while active inventory dropped again this month. Properties continue to receive multiple offers.
On a positive note, we have a higher proportion of FHA and VA buyers closing on homes. Be prepared to come in strong with your offers…no closing cost assistance and possibly paying over the appraised value. (Offering baked goods or your first-born may be helpful).
Sellers: Our market continues it’s upward stride as our average sales price just went over the $400,000 mark. This is, in part, due to an increased number of sales in the luxury market.
We are in an incredible seller’s market, but your pricing must still be in line with recent sales to avoid appraisal pitfalls.
Today’s Interest Rates
| ▶️ 30 Year Fixed (Con) | 2.85% |
| ▶️ 15 Year Fixed (Con) | 2.39% |
| ▶️ 30 Year FHA | 2.46% |
| ▶️ Jumbo Loan | 2.54% |
| ▶️ 5/1 ARM | 2.75% |
Market Reports from 2020
Market Reports from 2019
Featured Communities
| BUCKEYE / VERRADO | GOODYEAR |
| LITCHFIELD PARK | VICTORY AT VERRADO |
| CANTAMIA | ESTRELLA MOUNTAIN RANCH |
| PEBBLE CREEK | SUN CITY |
Homes for Sale in Maricopa County
Have Questions? Ask Elizabeth
ElizabethChionchio.com is the best source of information about the local community and real estate topics. Give Elizabeth Chionchio a call today at 623-469-7468 to learn more about local areas, discuss selling a house, or tour available homes for sale.
