This page of Laveen real estate market updates is to help those interested in the Laveen real estate market trends. On a weekly and monthly basis I will be reviewing statistical information that will help both home buyers and sellers know what is happening with the market here in Laveen. Information will be taken from the MLS (multiple listing service) which is what realtors in the Metro Phoenix area use to help both market homes and determine home values. Not surprisingly appraisers also use information from the MLS to help them find homes that can serve as a comparable sales when performing a appraisal of value on a home. WORD OF CAUTION : Any home owner looking to sell your property, information given on this post will be based on all homes on the market. This will give a over all look of values and trends of the Laveen real estate market, but is not a subject property specific valuation. In other words, you are better served by requested a FREE home value evaluation if you are considering selling vs. relying on a very general look of Laveen real estate values.
Month ending September 2017
Commentary – As one can see from above graph, inventory in Laveen remains under 3 months, which indicates a seller market. This has been the case for over 12 months, and the trend seems to continue. Top right and middle right charts are also I think of interest. The average/median sale and list price. One can see many homes that are active are significantly higher than the average/median sales prices. This is showing us that some home sellers start the sales process with an over listed property. In other words, they market their homes for over market value. Middle right shows that on average homes that are selling, are doing so at under original list price as wells as the last listed price. Point is, homes are selling for market value. In the end home sellers that try to sell for over market will end up doing price reductions, and in the end make less than they would have had they listed at market value.
Month ending August 2017
What are some of the take away’s from the above chart? What does it tell us?
1. Homes are selling relatively quickly if priced right, notice about 60 days.
2. Homes are NOT selling for over asking price on average. Matter a fact, last 12 months, homes are selling 1% to 3% under original list price, and those with price reductions…….well they sell lower than last listed price too!
3. It continues to be a seller market, with under 3 months inventory.
Good time to sell. Just price it right.
Month ending July 2017
No change I guess is good change for the moment, as we continue in a seller market. Below see market summary graph for the Laveen area, month ending July. Notice number of active listings and number of closings has continued pretty steady. Absorption/inventory remains low, which is one of the key indicators for the type of market, in this case seller. Top right, well it shows values, and it has been pretty steady with appreciation.
Month ending June 2017
Seller market, continues on. Active listings continue steady and values overall, holding steady with slow appreciation year over year. Two top right charts (list prices and Sold to list ratio) are to me, ones that indicate a home owner needs to be realistic. Homes are selling for market value, not over. Notice margin between active listings (red) and sold (black) on top right chart. If overpriced, simply it wont sell. List to sale, showing that homes still on average sell under original list or reduced list price.
Month ending May 2017
Looking at the above chart for the month ending May 2017, we can see several things. First the Top left numbers show, that for the most part the number of homes for sale, and even those selling have been fairly constant going back 12 months. Right below, we see the current absorption rate, which continues to show that Laveen Arizona is currently experiencing a sellers market, under 3 months inventory.
One chart that always hit home for me, and many sellers may not like, is the top right chart. This shows the average/median list price verses what average/median sales price has been for the last month and year. There has been a large gap between the two. In other words many sellers think/feel their homes are worth more than they are actually selling for in todays market. This can be seen when one looks at days on market averages for sold vs those that are active. Homes listed for market value are selling and those that are not, well they don’t sell until they come down to market value.
Month ending April
We currently have a inventory of under 3 months, which has been pretty constant as one can see for about a year at this point. Review the middle left chart, inventory suggest that of a seller market. Another great chart is the average/median list and sale price on the top right. Laveen homeowners, price your home correctly! You can see the average list/sale has been off by as much as $60,000 at times during the last year. Homes sell for market value, not more, especially when financed, which 95% are.
Month ending March 2017
As you can see from the above chart, it is still a seller market. Inventory levels continue low, which makes it the seller market we are in. We are also starting to see an increase in number of sales, which is customary in the spring and going into the summer months. Values have gone up, and the trend appears to be continuing. We can assume that with the low inventory, stable to appreciating values, things should continue that way for months to come.
Also, though values have been steadily appreciating (slowly), homes are NOT selling for more than market value. This makes sense as the trend has been that most purchase are being financed, and well………those do need to meet an appraised value.
Month ending February 2017
So, as you can see from the above chart, not too much change. It is still a seller market, and we still have low inventory of homes for the laveen zip code. Also, homes are not selling for over asking price, even though it is a seller market. As you can see in the list to sale ratio chart, homes are on average selling for almost 3% under list price for original priced homes. This has been the case for going on the last year, so price right, sell your home.
Month ending January 2017
Folks, there really is not much new to tell on this story that is Laveen real estate. The market has been stable in my opinion for some time now, though by that I also mean normal with gradual appreciation. One can see in top right chart, that the average sales price has increased a bit overall over the last year. Also middle chart on left indicates under 3 months inventory, which is a seller market for the area. This being said, homes are no selling on average for over asking price. Actually homes on average for the last year have been selling for up to 3% under original list price. Point is, know the market, price it well, and you could have a stronger position for negotiation. Don’t, well then you sit on market, and wait to see what happens….
Month ending December 2016
Month ending November 2016
Commentary – Well, over all the year has been great in Laveen, as we did see some appreciation. Yet, I would almost describe the year as been very stable, steady, and pretty boring to write about. Yet, there is good information to be had from the statistics chart above. Active homes continues pretty steady, with a slight increase of late. With increase in active listings, and steady with slight seasonal decline in sales we have a little bit of growth in inventory. Fear not sellers, it is still a sellers market. Many home owners who list home for sale, appear to still be overlisting home (on average) as can be seen in top right chart showing avg./median list price to that of sales in black (almost $35,000 variance).
Take away is that homes are selling, and values have gone up. Yet, we are not seeing homes sell for over market value, and that is evident in list to sold ratio.
Month ending October 2016
Over all things in the Laveen market have continued steady, as the above chart shows. Inventory/Absorption has been under 3 months for going on a year. This means, that we have been in a seller market all this time, which of course benefits sellers. Homes though, while appreciating are not selling for above market value. Actually, most homes are selling on average for under list price, which can be seen in the “list to sold ratio”.
It is still a great time to sell in Laveen. Values are what I would call steady, though you can see a little appreciation.
Month ending September 2016
For a further breakdown of the laveen real estate market, visit other pages under the “Recent Solds Tab” https://laveenrealestate.co/recent-laveen-homes-sold/
Active listings, in my opinion continues pretty steady as does the number of closings. Absorption rate or market inventory, is still under 3 months and favors sellers. The gap between the average list price and average sales price, is still pretty large with about $20,000 difference at this point. Homes are still selling, on average for less than listing price. This of course is looking at all homes, all price ranges within the 85339 zip code. If your looking to sell, make sure to do your home work and really drill down into home values, to determine the most likely sales price.
Month ending August 2016
Not really much to report. Feel free to check out the statistics provided under the recent sales tab. Here is updated chart for month ending. Listings are steady, sales pretty much consistent, and we continue in a sellers market.
Month ending July 2016
Below you’ll notice our new and up to date chart courtesy of the Arizona MLS.
Number of listings for the Laveen Arizona area has been stable and constant. They average number of active properties has ranged between 180 to 220 at any given time over the last 12 months. The absorption rate or inventory, has been consistently under 3 months for over a year. This is a seller market, and as the name implies it does benefit the seller.
Listing prices have gone up over the last couple months. Do NOT let that dictate your price, as you’ll notice in the same chart the average/median sale is and has been pretty stable. In other words just because people list homes at a higher value DOES NOT mean they sell there, because over priced homes are not selling.
List to sold ratio- Laveen has been averaging about 3.5% to 2% under the original list price. To be clear, this means that the homes that did list correctly still sold for on average 3.5 to 2% under their original list price. The other homes, well they did price drops and eventually when they sold still sold 1-2% under their last list price.
Homes in Laveen are selling. To sell, you must understand the market, aggressively market home to the most likely buyer, and lastly try to net the most on the sale. Best of luck.
Month ending June 2016
Better late than never, right? Below find chart we will review.
Top Left of chart – Number of active listings has been pretty stable going back a year, and same goes for closed/sold homes.
Middle left – we are below 3 months absorption – translation is that we are still in a seller market. Good time to sell as inventory is low.
Top right chart – We are still seeing about a $20,000 difference between where some list homes, and the average price where most sell. Translation, many are listing their homes for more than they are worth.
Middle chart on right – sold to list is still below 100%, and actually has been averaging about 3% under list price going back a year. So, price right, price well, and sell. Don’t price it right, it will not sell.
Month ending May 2016
Not really much change in the months since I last posted. Inventory is still under 3 months, which benefits sellers. Keep in mind, there are different price ranges, and generally the more affordable price ranges will be experiencing the bulk of the seller market. This is generally the case especially under $250,000. Going back a year, we can see there has been a slight steady increase in average home sale averages. Yet, notice the list to sold ratio, which indicates on average homes are still selling under list price. Translation is make sure to price the home right, if not it likely will be one of the homes that is not selling, or won’t until the price is reduced. We are seeing a good amount of sales activity, healthy.
Month ending March 2016
So what is going on with Laveen real estate? Well the best way to describe it to me is pretty much steady as she goes. The top left chart shows the active listing and the sales, and we have remained pretty consistent. Values have been a little more volatile for the last several months when looking at Laveen zip code as a whole, but even then it still shows a slow but relatively steady appreciation. Nothing to remind us of the increases seen in the mid 2000’s. While we do see inventory in left middle graph is a little low and into the seller market, homes have been still selling on average below original list price – seen in right middle chart. So, big take away is homes that are priced right are selling, and are doing so relatively quick, but often not at full asking price.
Month ending February 2016
Some take away information from the above charts. First, the absorption rate shows that the market currently is a seller market. This is great for sellers, as the buyers have less choices. Active number of listings, pretty steady and same with the number of closings for this time of year. For folks considering selling check the top right and middle right charts. The median list price for those currently on market vs. those that sold has had a good size gap over last year. Middle chart is showing that on average homes that are selling are doing so for 3% less than their original list price. Point is, make sure to price right. Homes are indeed selling, but not apparently for more than ask price.
Month Ending January 2016
So lets see where we are at this point. If you’ve come across this site and this post, and it is outdated here is what you can do. Check under the “recent laveen homes sold tab”. Under that tab, you will find recent information, which I DO NOT miss on a monthly basis.
Well, number of active listings has been pretty steady over all, and the number of sales has gone down after a huge December. Absorption for all properties for the month ending is 2.76 months, which is technically a seller market. Days on market has been going up a bit since June of 2015, currently homes that are selling are on average selling within 78 days. The average list price to the average sale price is still got a big margin of error. List average has been flat for several months at about $210,000 and average sale has been closer to about $178,000. This is a large gap, and what happens is that homes are not selling for over ask price, or if they or over priced. Even homes that sell at original list price (chart middle right) are averaging 2% to 4% under ask price. So, while technically a seller market, buyers appear to be getting homes for under ask. Take away? Price home well, if not you’ll end up lowering and likely selling for under last list price anyway (brown line same chart).
Month Ending November 2015
So we have the seasonal slow down we are going into, and active listings have grown for the last 4 months. With this growth and slowing in closings, our turnover rate has grown as well, and we currently sit at about 3 months inventory. Actually, looked this up today and we are at about 3.29 as of today 12/8/2015.
Home values have gone up a bit in the Laveen area, i’d say about 5% year to date. Are sellers getting what they are asking for? Well going on the above chart (sold to list ratio) the sellers are getting on average about 3% under list price. This does not include those that have had to do price drops. Notice top right chart listing pricers, the average median list price is still significantly higher than the average median sale price. Homes are not selling for above market value.
Month ending October 2015
Lets discuss the above chart to dissect what Laveen real estate is doing. At this time, (top left) the number of active listings is increasing. Also, while we are seeing the seasonal slowdown in sales, I would say it has been very consistent for the last year, actually pretty similar to years past. Middle left chart shows that are absorption rate is increasing, which makes sense as the are more homes on market and less sales. This is now over 3 months, which is starting to favor buyers. Looking at only single family homes, you see we are in a buyer market especially at higher price levels and horse property. Top right shows the average/median list and sale prices. There is still a big discrepancy between where some sellers THINK that home should sell, and where the average/median sale is actually occurring. Lastly middle right shows list to sale ratio. Black is the original list price to sale ratio, which for the last year has been about 2% to as much as 5% under original list price. Brown shows the properties that have had price reductions, and where it sold at its last list price – still under asking.
In short, Laveen is pretty much at this point scratching the surface of a buyer market. With more homes on market, buyers will have more choices. Those sellers that need/want to sell will need to make sure:
- Have a solid concept of the market
- Have a solid grip on value of the home in current market
- Have a aggressive marketing strategy in place
This is something I do, and I’m also a local Laveen Realtor who is a top realtor. Call me today for your consult, no cost, no obligation, I want to earn your business. David 602.373.6345
August or Month ending July 2015
Well, over all the real estate market in Laveen Az continuous as it has been. Pretty steady over all, I like to say. If you look at the attached statistics provided through the multiple listing service, one can view several things about the market.
So one can see based on the left chart, that for the last 12 months inventory has been on the decline. Yet we did stabilize in May through today, and actually see a slight increase in inventory in July. Sales which is the black line on the left chart, shows of course the summer seasonal increase, yet overall it has been very steady with number of sales. What is still very interesting is that the chart on the right shows that the average median sales price has been very consistent. Anywhere from about $168,000 to about $178,000 give or take. Some months we have higher values sales like horse property, and other months not, so it does have some fluctuation. Over all though, as I keep track of average of $/sq ft. has been pretty consistent. Biggest thing to note as a seller, homes are not on average selling for over market value. Notice in right chart the average median sales price (black line) vs. the average median active list price (red line). There is a big spread, and those homes over priced are active for a reason. People/buyers are not paying over market value, even if we have a low level of inventory and it is a seller market. I f you would like a view at information for South Phoenix market updates, visit my website at http://phoenixlaveenhomes.com/south-phoenix-home-values/
July 2015 or month ending June 2015
The real estate market continues to pretty much roll along with not much change. We are experiencing the increase in number of sold homes as is usually the case with the summer months. The inventory levels are still a little low with about 2.8 month of inventory in Laveen and even less if looking at only single family homes. It is definitely a seller market out there, and those buyers may be feeling the competition depending on the price range they are buying. The price ranges under $200,000 in the entire Phoenix area, is currently pretty competitive. So if your a buyer and your looking in the price range under $200,000 you may find that you have to compete with other buyers to get the home. This is starting to happen more and more.
Month Ending May 2015
Basically looking at this month stats for month ending May, we can see inventory per MLS chart below leveled off. You can see that in the top left and middle left charts. The Absorption rate and inventory are pretty much holding steady, though they are lower than they have been in over a year. Actually they are as low as back in 2013. The average median list price on the top right chart is still high. Matter a fact many sellers are still thinking they can sell their house for more when they place it on the market. Not sure why, maybe the realtor they have chosen to work with has not shown them comparable homes to help them determine value, and the best strategy for selling the home. Yet, if they want to make sure to not leave money on the table, then they are likely part of the middle right graph, which in brown shows the sale to list price. The brown line shows that of those homes that sold with price reductions, they are still selling under the reduced listed price. Oh, and those that are over priced, well those stay on the market until they expired, are cancelled or until owner reduces the price. The average list to sale price for original list price, is about 2% below list.
Laveen homes values are currently at about $87.51 a square foot. This does vary a little month to month, but honestly it has been on average about $88 a square foot for Laveen since 2013. Values are steady.
April 6, 2015
Welcome to another month and update on Laveen Real estate. Well the trend appears to be continuing for the moment, and one can see it on the chart right below:
So what does this chart above tell us about the Laveen Market?
Well for one it is showing that the number of active listings in Laveen Az has gone down. The number of sales on a monthly basis, while it does fluctuate a bit, can be called very steady. With the decrease in number of active listings and a steady number of closings the turn over or months inventory is currently at a 1 year low, just over 3 months inventory. Days on market for homes that have sold has increased over the past year going from about 72 days on market to over 90 days on market. Why?
Well looking at the stats of our Laveen market we can also see that some home owners are listing their prices above market value. This is seen because the average median list price vs. the average median sales price for homes is currently at about a $35,000 spread. Yes, sellers and some agents are over listing homes, and this can also be seen when you factor in longer days on market. Goes to show that some homes will sit on market longer, or until the owner reduces price to market value. Another interested indicator is the sold to list ratio, which shows sale to original list price to be about 3% less than list price. Yet those home owners that over price, then reduce (who knows how much or many times), still also sell on average 1%-2% less than reduced list price.
Hope this helps.
If your looking to sell your Laveen or south phoenix home, I am your local realtor and I’d love the opporunity to earn your business. Feel free to call today at 602.373.6345 or request an appointment for a valuation of your home here.
March 3, 2015
Wow, the one constant in life is change right? Well looks like we may be seeing a change coming for the Laveen real estate market, though it can change at any time. Let me explain what is going on in Laveen real estate right now.
The market is experiencing a decrease in inventory of homes for sale. What appears to be happening is less home owners are placing their homes on the market for sale, or have decided to stay on the fence for the time and not sell. The effect is less homes on the market and while sales have continued stable, the decrease in new listing to market is changing the market toward a seller market. This of course is a market that favors sellers a bit more, and at this time we are 2.6 months inventory for single family homes in Laveen. Last time we had that turn over rate was late 2013, since then it has been a buyers market. The big question to me would be, will this continue? Frankly, there is no way to know. These are factors that are not dictated by outside factors such as high/low interest rates, low values, harder to come by financing…etc, it is dictated by lower homes on market. That of course is just folks deciding to not sell for now.
This does make it a better time to sell though, than I’ve seen since 2013. You see less inventory, is less competition and better chances of having home shown.
January 5, 2015
Welcome to the new year!!! What can we expect in the year to come? Only time will tell, but it appears early on that maybe activity is starting to tick up a notch or two. Inventory per MLS is just about 3.5 months, and this has been in a decline since August 2014. Top right corner is showing us the median listed and sold price for the Laveen area. Appears that homes are still selling below list price, and this makes sense at it is a buyers market and with more inventory sellers do have to become a little more aggressive to sell. Top left shows number of listings in the Laveen market, and we have noticed a downward trend in the number of listings on the market. That along with a pretty consistent number of monthly closings is what is giving us a lower inventory for Laveen Az at this time.
My suggestion for buyers – If your looking to buy, go ahead and start the process. Interest rates are good, the size of inventory and choices are good, and lenders are lending, so go out and buy.
Suggestion for Laveen Sellers – make sure to list at market value, have home in great showing condition, and your home should sell.
December 2, 2014
What does the above chart show us about the month ending November 2014 for Laveen Real estate. Top left chart, we are still above the number of listings we had this time last year, and we are also selling a little less as well. Translation, larger inventory of homes and that is shown in the bottom left, where Laveen Az has a little shy of 4 months inventory. This is actually better than Phoenix as a whole, which is over 4 months as of today. Top right shows listing prices, and of course sale prices. The chart is clearly showing that the homes selling are selling for below list price, which is also shown in bottom right coming in at about 95% of list to sale price. Translation, price your home right and to sell, or chances are it won’t get shown.
September 17, 2014
To make up for the missed dates between my last post, I will give you folks much more information to digest.
What does the above chart tell us? It informs us a lot about what is happening in Laveen. First notice the absorption rate which now is about four months. This is a buyers market, and as such buyers have more options to purchase and are selecting the best homes at the best prices. This is further seen in the sold to list ratio chart, which shows on average homes are selling for less than listed price, even if there has been a price drop. You can also see in the listed prices chart where the active listings and even median list price are still both above what the homes are selling for on average.
Bottom line sellers, make sure your agent knows your market so that you can capitalize on the best marketing strategy to get your home sold. Speaking on marketing strategy, did you know most agents don’t really have one, but you can view a glimpse at my marketing strategy right here.
What does the above chart tell you as a buyer? Pretty much the opposite as to the seller which is the market favors you at this time. There is more inventory, and you have more choices to select the right home to fit your needs. Chances are you could likely negotiate a good deal, and potentially even get the seller to pay for your closing costs. Keep in mind though, while homes are not selling like hot cakes, the GOOD deals still attract attention. If a home is price right, is the best home, in the best condition, you may want to jump on it quick, because time has shown over and again that if a buyer likes a home another one will as well. Don’t let a good deal slip through your hands.
July 21, 2014
Laveen real estate is still holding on to an average in the $90’s per square foot, but will it last? Chances look good that the last 30 plus days which saw the increase of the average in price per square foot, were due to the rarity of several homes selling over the $400,000 range. This increase your average values, and chances look good, that the average may drop again to under $90 a square foot.
Inventory level for Laveen is at 3.09
Average sales price for Laveen Homes last 30 days, $206,128
Average price per square foot for homes sold in Laveen last 30 days $91.22
July 2, 2014
So I missed a couple of weeks for giving updates, but you still can find them on this website on other pages. So, Laveen Real Estate continuous to hold pretty steady, although the last couple of weeks has seen an increase in dollar per square foot sold. Reason is likely several homes selling over $300,000 and that has raised the average a bit.
Inventory of Laveen Real Estate is at 2.77
Average sales price of homes in June 2014 $202,868
Average price per square foot of homes sold $92.88
Keep in mind, these are for the entire Laveen Real Estate market and includes horse property, higher end, lower end homes. If your looking to sell, request a home evaluation specific to your home.
May 5, 2014
The Laveen Real Estate market continues to hold steady. While we see some variation in average sales price, days on market, and average price per square foot sold, all these measurements have been holding within a steady range since 3rd quarter of 2013. We have seen a reduction in months inventory and now are at about 3 months or less actually. In essence, we are in a sellers market again. This is in theory when buyers are having to compete more for the homes they are wanting to purchase. What is funny, is that days on market still holds pretty steady at around 69-77 days on market. Translation, homes that are priced right are selling, and those that are hoping to get more than market value are sitting on the market until such time they reduce list price.
Inventory of Laveen real estate is at 2.88 months
Average sale price in Laveen $184,218
Average price per square foot in Laveen $84.66
For those Laveen home owners considering selling, this information gives you an idea of where the Laveen real estate market stands. I would highly recommend not pricing based on these numbers, as they are made of all homes in the Laveen real estate zip code. You will want to compare similar homes to get a better idea of value.
April 28, 2014
Values in Laveen have been holding steady for the last several months. The average price per square foot in Laveen has been staying between $85 to $89 a square foot since 2013. What is interested is that the inventory/turnover of homes has been changing. Since June 2013 the Laveen real estate market had seen a shift that resembled a buyers market. A buyers market is generally 3 months or more of available inventory, which at that point means buyers have more choices for homes. In early 2013 through June 2013 the sellers market we experienced was having home sellers see multiple offers coming in on their properties when listed. The reason was we had less than 3 months inventory of homes, especially in the lower price ranges. This lead to many multiple offer situations, and lots of homes selling very quickly. With over 3 months inventory at this point, the buyers market is seeing buyers have more choices and the ability to take a little more time in their decision making process.
Inventory of Laveen real estate is at 3.39 months
Average sale price in Laveen $180,499
Average price per square foot in Laveen $87.71