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Valley real estate update

Yikes! Our inventory continues to be low in the Valley, we have more buyers than sellers.

We are seeing multiple offers on properties in desirable areas.

Here’s a rundown of our first quarter in the Valley of the Sun:

• Median sales price of a home in Maricopa County has increased 30 percent and is at $169,227.
• Average sales price is up 27 percent to $225,406.
• People are getting 98.6 percent of their asking price.
• The amount of homes for sale is down 1.4 percent from one year ago.
• Months supply of homes is up almost 18 percent to 2.7 months.
• Average days on market for a home for sale: 53 days.

Maricopa County Home in 5 Advantage Program

The headline is, “They’re running out of money, so time to get your butts in gear!”

Maricopa County is offering 5 percent of your down payment and closing costs. It’s grant money, which means you don’t have to pay it back.

Maricopa County has announced it has less than $4 million left to give out. No word yet on if they’re getting more moolah to dish out.

Some of the criteria to qualify:

• Household income less than $90,000 per year.
• Good credit (allowed some bumps in the road).
• Must take a home-buying course from Maricopa County. It’s offered online.
• Must live in the new home within 90 days of closing.
• New home must be less than $300,000.

You can always contact That Real Estate Show to see if you qualify.


Join Realtor Diane Brennan for That Real Estate Show every Saturday at 3 p.m. on News/Talk 92.3 KTAR.