October Market Statistics + My Sales, Listings, and Buyer Need
Dear Friends,
As we head into the holiday season, I want to take a moment to wish you all a wonderful Thanksgiving!
I know the holidays are when family and friends gather, and it's common for real estate conversations to come up, so feel free to call me. Whether you have questions or need guidance, I am always here to help with your real estate needs. I'll take three listings before the end of December and am excited to work with one new buyer. Please see below for two of the listings and the buyer's needs.
October Market Statistics and how they compare to the previous year
New Listings - 1,844 up 14.1%
Closed Sales - 1,015 down 5%
Average Days on Market Until Sale - 27 up 10 days
Median Sales Price - $352,000 down 0.1%
Average Sales Price - $434,225 up 2%
Total # of Active Listings - 4,292
Average Months of Supply - 4.23
Closed Sales
Sold Price $825,000
12851 N Whitlock Canyon Drive 85755 - Listing Price $829,000
4BR/2.5 Baths/Pool & Spa: Great room concept, 3-car garage, putting green, mountain and sunset views.
Sold Price $314,999
7481 W Tierra Rd. 85757 - Listing Price $314,999
3 bedroom/2 bath: This is an immaculate newer home on a large lot. Move-in ready!
Pending Sales
6165 N Pascola Circle 85718 - Listing Price $575,000
3 Bedroom/ 2 Bath: Townhouse in Kachina Hills with stunning views of the Catalina mountains and no neighbor behind the home.
13651 E Deer Run 85749 - Listing Price $1,300,000
4 Bedroom/3 Baths/Pool & Spa: A saguaro-studded backdrop with unobstructed sunset and city views on 2.95 acres. This custom home is located in the serene and picturesque Redington Ranch.
33 E Big Wash Place 85755 - Listing Price $535,000
4 Bedroom/2 Baths/Pool: In Oro Valley, backing to desert open space and unobstructed Pusch Ridge views.
Just Listed in historic Barrio Viejo
508 W 17th Street 85701 - Listing Price $475,000
3 Bedrooms/2 Baths, 1413 sqft, secure off-street parking
View the property website at 508-17th-street.com
Coming Soon in La Paloma
3884 E Calle Cayo 85718 - Listing Price $1,075,000
3 bedrooms, 3 bathrooms, 3273 sqft, set high above the golf course with panoramic views. This home will be on the market by 11/18/24.
Call me for a private showing.
Buyer's Need
The desired location is from Sabino Canyon to Oracle Road, North of Ft. Lowell Road (this geographic area is flexible).
3 bedrooms, 2 baths, 2000 - 2400 sqft, 2-car garage, one-story
Townhome, Patio Home, or Single-Family Home
The price range is up to $700,000
Please call me if you know anyone who is considering selling their home.
Is It the Most Wonderful Time… to Buy or Sell Your Home?
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As the holidays approach, the real estate market may not be the first thing on your mind. But contrary to popular belief, this festive season might offer the perfect opportunity for both buyers and sellers. So, is it really a good time to make a move in the real estate market?
Fewer Listings, Less Competition
One of the biggest advantages for sellers during the holiday season is reduced competition. Many sellers take their homes off the market or wait until spring to list. If you’re selling, this can make your home stand out and potentially lead to a quicker sale.
For buyers, the smaller pool of listings might seem like a disadvantage, but it can work in your favor. Fewer active buyers mean less competition, reducing the likelihood of bidding wars. This could allow you to negotiate better terms.
Motivated Buyers and Sellers
During the holidays, buyers and sellers who are active in the market tend to be more motivated. Sellers who keep their homes listed are serious about selling, possibly due to life changes or a desire to close before year-end for tax reasons. Similarly, buyers shopping during this time may have a pressing need to purchase, meaning they’re likely to make decisions quickly.
If you’re a buyer, this can be a great time to work with motivated sellers. For sellers, you’ll deal with serious buyers, speeding up the selling process.
Mortgage Rates and Financial Planning
Many buyers ask if they should wait for the new year to make a move, but with mortgage rates potentially fluctuating, acting sooner rather than later could be wise. Rates often stay steady toward the end of the year, but there’s no guarantee they won’t rise in the coming months.
Ultimately, the decision to buy or sell during the holiday season depends on your situation. If you’re a motivated seller, this could be a great opportunity to take advantage of lower competition and serious buyers. For buyers, the chance to negotiate favorable terms in a less crowded market might be exactly what you need. So, whether you’re buying or selling, the holidays can be an excellent time to make your move. If you’re considering taking advantage of this season, reach out, and I can guide you through the process, ensuring your transaction goes smoothly no matter how busy the season gets! |
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