October 2018 Phoenix Real Estate Statistics ARMLS® COPYRIGHT 2018”
With home inventory low and prices high, the PAR ARMLS Phoenix Metro market needs an influx of homes to rent. If you have a home to rent, or are interested in renting your home, call us today at (602) 753-0333 Here are some of the numbers in the ARMLS region for October. You can read more by clicking here: https://armls.com/docs/2018-October-STAT.pdf
Total Monthly Sales: 7,182
Sales have increased by 4.1% since last month, but are down 1.2% since last year at this time.
Total Inventory: 21,742
Total inventory has gone up 7.6% since September, but is down 5.8% from last year.
Average Sales Price: $324,300
The average sales price is up 9.6% from last year at this time, and the median sales price is up 6.9% from last year.
Average Days on Market: 61
Days on market was down 6 days from last year, and down 2 days from last month.
COMMENTARY by Tom Ruff
In October, ARMLS reported a decline in year-over-year sales volume, down 1.2 percent. When we take into consideration one less business day this year, the 1.2 percent decline is greater than it appears on the surface. The last time we saw a downturn in our market like this was in August 2013, as the large institutional investors abruptly curtailed their purchases.
Sales volume in the following year fell nearly 11 percent before recovering in 2015, when sales volume returned to 2013 levels. Traditional homebuyers, led by boomerang and first-time buyers, replaced the opportunistic investors and sales grew four consecutive years, validating the adage that economists and analysts are great at predicting the past.
What does all of this mean? It’s a great time to have a Phoenix investment home, and a great time to rent a home in Phoenix! Check out our available rentals at: http://allcountyprestige.com/available-rentals
Call us today at: (602) 753-0333 for more information about renting out your home in Phoenix.
How a Military Family can Rent Their Home Fast
Imagine this scenario. You’re stationed in Arizona. You buy a home for your family because you love it here. But now you have orders, and must move. You don’t have time to sell your home, or the real estate market just isn’t right for you to make money right now. A friend mentions you could rent out your home while you’re gone, and even make a little money. Here’s how a military family can rent their home fast.
When you start to think about the whole process of renting, you might might just throw up your hands and give up. It can seem too complicated to get to know about renting well enough to be able to set things in motion before you leave. Thankfully, we have some answers! Our property management company is owned by Colonel Scott Glascock, who understands the military family.
You could make money by hiring All County. This is how it works: they charge a percentage of your property’s monthly rental rate in exchange for their services; there is no fee when your property is vacant; they charge no mark-ups when they do routine repairs on your property. Monthly proceeds are electronically deposited, and your monthly statements are available online. Let’s take a look at what All County will do to rent your home successfully in the greater Phoenix area.
- We’ll market your rental so that you get it rented quickly, and attract the kind of people you want to live in your house. We can do this even after you leave.
- We’ll get the best price you can without charging too much.
- We’ll keep your property maintained so the yard doesn’t die and that beautiful painting you did in the living room will stay fresh.
- We’ll collect prompt payments, and you can see them from anywhere in the world through our owner portal.
- We’ll provide a tenant portal for residents to pay their rent and request maintenance.
- We’ll employ a good, affordable real estate lawyer.
All of this can be done—in fact, we do it right now—while you are anywhere in the world. Moving quickly? No time to figure things out? One call can get you on your way to having a successful rental home in the greater Phoenix area. Call us today at: (602) 753-0333 for more information about renting out your home in Arizona.
Whether you’re buying or renting, All County is here for you! Check out our available rentals at: http://allcountyprestige.com/available-rentals