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.
- Affordable small home makeovers for Mother's Day
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Overlooked water tips to save you money
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life