Test Your Phoenix Area Real Estate Knowledge
So you think you know what is going on in Phoenix Real Estate? How many questions can you get right?
1. In what month do we see the most new listings come to the market in Phoenix?
March is the month in Phoenix that the most new listings come to the market! The time is now! With Spring Training in full force and the height of our tourism season, give your home the opportunity to shine! March too soon? April is still a strong month, you missed January...but you could shoot for October which is a strong month for new listings. Little fact: we had more new listings in January 2018 than we have had since 2012.
And the other side of the coin? When you come on the market in March, you are facing the most competition from other listings. You better look the prettiest and be priced competitively to get invited to the ball!
2. In what month do we see the most closed sales?
This is a little bit of a softball...a typical escrow is about 30 to 45 days, so that means that a buyer has made a decision to purchase 30 to 45 days before the sale gets recorded. So if the most new listings come to market in March, you can estimate that the most closed sales occur in May, June is a really close second.
3. Which zip code saw the greatest median sale price increase in 2017?
If question 2 was a softball, number 3 is a bit of a trick. In 2017, the zip code that saw the greatest increase in median sales price was (drumroll...please) 85007 with an increase of 103%!! Where is 85007? It is on the either side on I-10 through downtown and just over the I-17 and includes the historic districts of Encanto, Palmcroft and FQ Story.
The next highest increase in median sale price 85377, which is Cave Creek and the next highest is 85361 which is in Wittman, Arizona, half way between Sun City West and Wickenburg.
How did you do?