Market update for August
Ok, have we reached the bottom yet? The last couple of months have reminded me on trips in the car with my kids asking “Are we there yet?”. Well I keep asking the same question, I go to the statistics for reassurance and things were looking good this year. Then came August!
Now August numbers aren’t a “Oh my gosh” moment but they did show me we are not there yet. This market (West Valley of Phoenix in general) has not totally bottomed out yet. I still think we’re close and my comments over the last couple months of “We’re bouncing on the bottom waiting for the upward movemenrts” is still right on. Here’s a couple of things I cover in this weeks podcast-
- August ‘08. The average list price in the West Valley dropped another $3,081 from July
- Months of inventory crept up a little to 9.68 from 9.18 in July
- Average days on market dropped 23 days in August-homes are selling faster
- 29 additional new listings, 193 less pendings and 30 less closings then in August.
So the bottom line-listen to the podcast! When you do let me know what you think of it. Do I need to change up how I deliver the content? Is there something you would like me to cover that I’m not? If you need information about your city or maybe the value of your home feel free to email or call me.
