A new report from ZipRealty Inc. shows Phoenix is the 11th-best city in the nation to sell a home.
ZipRealty based its report on the list-to-close-price ratio, which was 98.2 percent in Phoenix. The best seller’s market is in San Francisco, which had a 102.5 percent ratio.
The report also shows homes in Phoenix spent a median 25 days on the market last year, a 42 percent drop from 43 days in 2011.
The study doesn’t surprise Michael Orr, director for the W.P Carey School of Business’ Real Estate Center.
“The market is extremely unbalanced at the moment so it’s much easier to sell your home than to buy one because we have low inventory,” Orr said.
According to Arizona State University’s housing report earlier this month, there were 12,623 Valley home listings on the Arizona Regional Multiple Listing Service on Jan. 1, down 6 percent from a year earlier.
With the decreasing number of homes for sale and a surge in buyers, Orr said it’s a perfect combination for sellers.
- The 5 worst things you could do for your roof
- 6 coolest things brewing in Arizona
- The virus that keeps head and neck cancers on the rise
- State Fair ‘Kid Reporter’ has all the angles covered
- 4 important things to know about timeshare maintenance fees
- Signs of delayed car crash injuries
- The truth about sports concussions
- The Alzheimer's epidemic: Facts you need to know
- The season is here, keep your Fantasy Football team strong all season
- 8 TV shows you can't miss this fall
- Football is here: 6 tips to make this your best season ever
- Gameday recipes and beers to match
- 6 reasons the Cardinals are driven to win the Super Bowl
- The Pac-12 football season nears kickoff
- Tips to get ready for a pain-free golf season
- Protect your family with these 7 home security features
- How to train like an Olympic swimmer
- 2016 Olympics: A guide to must-see TV events
- The bride's guide to feeling your best on your wedding day
- Deciding when you need knee surgery
- Celebrating Fourth of July is much cooler in these AZ towns
- Top ten road trip bathrooms in America
- Six things causing a pain in your neck
- 5 things to make your summer move easier
- Three elements of a strong timeshare exit guarantee
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.