Selling a Home in Phoenix Arizona

Beware overvaluing when selling your home in Phoenix Arizona

Rose colored glasses

If you are considering selling a home in Phoenix Arizona or surrounding cities, beware of overestimating your home’s value. Time to take off those rose-colored glasses.

REALITY CHECK For Sellers:

Here’s what Tina Tamboer, Senior Real Estate Analyst with The Cromford Report, recently stated about the Phoenix real estate market: (Highlights added)
“When do we know the Phoenix residential real estate market has “recovered”?  Many people assume when prices have returned to 2006 peak levels then the market has recovered.  However understandable, especially for those who purchased during that time frame, that’s not necessarily the case.  Average sale prices per square foot are still 27% away from the peak of 2006.  However, the market could arguably be considered recovered once prices reach the range that corresponds to the long term average rate of inflation, which from 2000-2016 in the United States is 2%.  In 2000, the average sales price per square foot for MLS resales was $96. Had the bubble and crash never happened, and annual appreciation stayed between 2-3% per year as normal, then prices would land between $134-$158 per square foot today.  Currently they’re running at $149, which equates to averaging nearly 2.6% annually and a 55% total gain since the year 2000.” ©2017 Cromford Associates LLC and Tamboer Consulting LLC

Whether you are a Buyer looking for your next home or a Seller wanting to know how much competing homes  in your neighborhood are priced at, you can search for free 24 hours a day to see the latest Arizona homes for sale, at: http://urbanpremises.com/search-mls

When you want to sell a home in Phoenix Arizona, contact maureen@urbanpremises.com or call 602-791-0898 for a detailed market analysis. Let’s talk about YOUR real estate objectives today.

Urban Premises, LLC  is a licensed Arizona Broker, here to help you with your Arizona real estate needs. We represent Buyers and Sellers on real estate Phoenix Metro Area, including Phoenix, Scottsdale, Paradise Valley, Carefree, Tempe, Laveen, and more. Let us know how we may be of assistance to YOU.