Valley real estate update
Apr 27, 2013, 12:00 PM | Updated: 12:00 pm
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.
