Sales are down with the year-over-year comparison by -5.9%. New inventory is down +10.7% month-over-month. Total inventory has a month-over-month increase of +1.9%. Months supply of inventory for August at 2.47 with September at 2.93. Average new list prices are up +8% year-over-year. The average sales price is up +8.8% year-over-year. Days on market were down -4 days year-over-year while month-over-month increased by +1 days. All statistics are provided by the Arizona Regional Multiple Listing Service.
Translation: Sales are continuing to go down slightly from this point last year. More homes are being listed for sale compared to last month, and the total amount of homes staying on the market has increased yet again. Rates are rising again this quarter, and they will continue to increase. Prices have started to look like they are flattening out due to the rate hikes. 2018 is still a great time to purchase a new home due to the historically low interest rates.
Say Cheese!- The second annual Mac & Cheese Festival is being held on Nov 17 – 18 from 11am – 6pm at Salt River Fields in Scottsdale. This year will be even cheesier with more restaurants participating. Along with the best mac and cheese in the valley, they will have a beer garden, a kids zone, two party tents with live DJ’s, live music, and yard games to enjoy during your mac & cheese breaks.
Over the past month- I have been watching my beautiful wife grow our daughter and she is looking beautiful! I was able to get an amazing family into a home before their new baby arrived. I was also able get their parents into their new home shortly after. I am now helping their siblings get into a how home before the holidays. It truly is a wonderful feeling when someone trusts you, and the whole family trusting you is even greater.
The Gilbert House– One of my favorite little breakfast spots to enjoy with my wife. The Gilbert House Restaurant, located in the heart of Gilbert, Arizona, has been owned and operated by Susan Wright and her family for the past eleven years. I am a classic 2 egg and bacon kind of guy, but they have some other awesome meals. My wife especially loves the cinnamon roll.
Energy Audit- Professional energy assessments are a great way to assess your home’s energy use. They will provide an examination of the residence and review past utility bills. Many professional energy assessments will include a blower door test. Most will also include a thermographic scan. Let me know if you’re interested in a reference!
Let me know if there is any way I can help you!