Phoenix West Valley Real Estate Market Report by City November 2017
How’s the Market? Here is the November 2017 West Valley Market Report. Black Friday deals weren’t the only thing selling last month. Two West Valley cities reporting double digit increases in the amount of homes over last year, Surprise 20.00% increase, Peoria 13.8%, followed by Phoenix 8% and Buckeye 6.7%. Inventory or Home supply levels, continues low, as each month we list and sell almost the same amount of homes.
However something interesting happened last month, we saw increases in the amount of New Listings. Buckeye had the largest increase of new listings with a 33.8% increase over November 2016, leaving them at 2.98 months of inventory year to date. Followed by Peoria 9.1%, Glendale 7.8%, Phoenix 5%, Surprise 4.8% Avondale 0.9%.
Pending sales were down in all cities except Litchfield Park. Avondale was down -47.7%, Goodyear -38.7%, Peoria -26.6, Phoenix -25.5% Glendale -23.9%, Surprise -18.7%, Buckeye -4.7%, Maricopa County -27.8%.
New listings taken on the rise and Pending sales down, we could start to see the Market shifting to more of a Buyers market. We will keep on eye on these numbers closely next month.
As always we would love the opportunity to earn your business and help you with any real estate need you may have, Buying, Selling, Investing or Property Managment, we are here to serve you!
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Tags: Buyers, Homes for sale, Market Condition, Market Reports, Sellers