Phoenix West Valley Real Estate Market Report for January 2018

How’s the Market? Here is the January 2018, West Valley Market Report. Maricopa county continues with extremely low inventory levels, in fact not a single city in the west valley has over 3 months of inventory, cities with the highest inventory levels are Goodyear reports 2.64, followed closely by Litchfield Park 2.63, and Buckeye with 2.62. The cities with the least amount of inventory are Tolleson at 1.72, Avondale at 1.73, Laveen at 1.79 and Glendale at on 1.8 months of inventory.  

 
Closed home sales continued strong in most West Valley cities, Litchfield Park had a 29.7% increase over last year, Buckeye reporting a 28.3% increase, Surprise with 11.5% increase, Glendale & Peoria with a 10% increase. Laveen had the biggest median price increase with a 15.18 increase over last year, followed by Avondale at 12.62%. Maricaopa county had an 8.89% increase in the median sales price over last year. Interest rates are on the rise and increasing prices, now is the time to make your move. Our Buyer’s this month purchased homes under appraised value!! Our Buyers home appraised for $360,000 and they only paid $337,000 another appraised at $286,000 with a sales price of $275,000! Call us today, there are still great deals out there!! 

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