Phoenix West Valley Real Estate Market Report by City April 2018

How’s the Market? Here is the April 2018, West Valley Market Report. Inventory levels remain low, month after month as we seem to list the same amount of homes we sell each month. Despite low amount of homes for sale on the market, Mariaopa County had a 4% increase in sales over April 2017. Some West Valley cities saw a huge spike in closed sales with double digit increases, Litchfield Park led that boom with a 37% increase over last year. Buckeye followed with a 24.4% increase, Avondale at 15.3%. Only two West Vally cities fell short on closed sales last month Surprise -1.1% and Laveen -8.3%. Median home prices continue to rise in Maricopa county, which is up 9.35% for the year as compared to 2017. All West Valley cities are up including a few with double digit increases, LAveen 15.54%, Litchfield Park 14.35%, El Mirage 11.94 & Tolleson 10.60%. 

 
Stability is the name of the game in the Real Estate industry and we are definitely seeing that ring true in the Phoenix market. Low supply of homes for sale continues to drive homes values in a positive movement. However we do not want another BOOM—we all saw the BUST that follows that boom! However with current regulations on the lending and appraisal industry, you can rest assured that this is a secure market.

 

If you are looking to Buy, Sell, or Invest in the Phoenix area, we would love help you.

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