Sales are down with the year-over-year comparison by -0.9%. New inventory is up +10.7% month-over-month. Total inventory has a month-over-month increase of +0.3%. Months supply of inventory for July was 2.36 with August at 2.47. Average new list prices are up +6.8% year-over-year. The average sales price is up +8.1% year-over-year. Days on market were down -6 days year-over-year while month-over-month increased by +2 days. All statistics are provided by the Arizona Regional Multiple Listing Service.
Translation: Sales are down slightly from this point last year. There are now more homes being listed for sale compared to last month, and the total amount of homes that have stayed on the market overall has increased. Homes are now staying on the market slightly longer, partly due to the increase in interest rates and prices. Although rates are rising, and they will continue to increase, they remain historically low. This continues to be a great time to purchase a home.
Every Thursday- Sunday in October, Schnepf Farms will be hosting their annual Pumpkin and Chili Party 2018. Voted by Phoenix Magazine, New Times, Sunset Magazine and numerous others as THE Best FALL family event in the Valley! They will have great food and lots of entertainment and rides for the whole family. Discounted tickets on sale at your local Fry’s food stores.
My wife and I found out this past month that our first baby is going to be a girl! We couldn’t be more excited. Both, mommy and baby, are very healthy according to the doctors. We will now be deciding on her name and work on preparing her nursery.
Grubstak- The second coming of this amazing waffle fry paradise will be opening this fall in Chandler. The original Gilbert restaurant was a huge success with their fresh food and poutine like concept and we are happy to welcome their new location at the southeast corner of Gilbert Rd. and Ocotillo Rd. The Chandler location will also have a large patio, great for families and dog-friendly!
Heading into fall and the holiday season, make sure to change the batteries in your smoke detectors as another year has passed. You don’t want the batteries to fail when you might need them most. Try and make time for a “fall cleaning” this year, as the summer monsoons are over and our homes have gathered extra dust. Bust out the ladders to get the dust off fans and blinds (or call your favorite housekeeper).
Let me know if there is any way I can help you!