Glendale, AZ Market Report October 2012

 

Glendale Homes For SaleGlendale, AZ Market Report October 2012

Total Active listings are up another 11.4% over the past 30 days and up 34% over the past 6 months.

Lender Owned (REO) and Short Sales (SS) make up less than 28% of Total Actives down another 6% over the past 30 days.

Lender Owned (REO) prices are up steady month over month and up 16% since May. That’s not a misprint. Lender owned properties are drying up fast in the Glendale, AZ Market and many that are available are receiving multiple cash contracts driving prices up.

Short Sale prices are up 9% month over month and up 16% since May. Even though Short Sales are still a challenge to close they are becoming a smaller and smaller part of the market much like Lender Owned (REO) properties.

Normal Sale prices are up 5.4% month over month and up 14% over the past 6 months.

What does this mean for buyers and sellers in Glendale, AZ  :

 – If you are thinking of buying a home in the next year or two, don’t wait, prices will continue to rise. Buy now.

 – If you are thinking of selling your home in 2012 list it now, competition (other active listings) is still very low but increasing each month.

 – If you are considering a short sale list your home now and complete the sale before the end of the year to avoid possible tax consequences.

 – If you are considering moving from a smaller to a larger home there has never been a better time to do so. Smaller homes are selling quickly and in many cases above list price while there are still some great bargains available in homes larger than 3000 sq.ft.

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Work with a REALTOR who truly understands the, Glendale,AZ Market E-mail Nancy@NancyLaswick.com or call (602) 793-1627.

Whether you are buying or selling a home in Glendale, AZ I offer a free customized market report. As an informed buyer or seller you’ll make better decisions.

All content in this post is protected by copyright. © Nancy Laswick 2012. All Rights Reserved.

Please Note:All statistics and figures are reported from the Arizona Regional Multiple Listing Service (ARMLS) and/or The Cromford Report and are deemed to be reliable, but cannot be guaranteed for accuracy. It is recommended that any information of special interest be verified through independent sources.