Sales Up...Prices Down...SE Valley reporting 7 to 8% price drop...

If you have to sell today and you don't have 3 to 6 months what do you do? Well, you price your home competitively, probably slightly below your closest competitor and maybe even below the last comparable sold in your neighborhood if the numbers work for you. So it comes as no surprise that the Arizona Republic Ahwatukee, reports that the number of homes sold in the Southeast Valley increased an average of 28 percent from February to March, according to the latest housing numbers from ASU's Realty Studies. Mesa went from 460 sales in February to 620 in March, a 35 percent increase. Chandler went from 280 to 380; Gilbert went from 230 to 290, and Ahwatukee went from 85 to 120 sales. However, the median price fell throughout the Southeast Valley in March compared to a year earlier. Ahwatukee's median price fell 7 percent and Gilbert falling 8 percent. "People are lowering their prices, if they can, to sell," said Jay Butler, director of Realty Studies. The Southeast Valley has 16,700 homes for sale at the end of February, according to the MLS. Homes are taking an average of 98 days to sell in the Southeast Valley.

Cheers,
Uzi Husain
Arizona Realtor, serving Goodyear & The Phoenix metropolitan area