NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.

Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home-buying demand continued to outpace supply in May.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger the demand is there).

In addition to revealing high demand, the index also mentioned that “compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 24 states, ‘stable’ in 25 states, and ‘strong’ in D.C and West Virginia.” 

Takeaway: Demand for housing continues to be strong throughout 2017, but supply is struggling to keep up, and this trend is likely to continue into 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales, but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 2.1% to 1.96 million homes available for sale
• That represents a 4.2-month supply at the current sales pace
• Unsold inventory is 8.4% lower than a year ago, marking the 24th consecutive month with year-over-year declines

According to Lawrence Yun, Chief Economist at NAR:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As we mentioned before, there is currently a 4.2- month supply, and houses are going under contract fast. The Confidence Index shows that 55% of properties were on the market for less than a month when sold.

In May, properties sold nationally were typically on the market for 27 days. As Yun notes, this will continue, unless more listings come to the market.

“With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. And the supply will continue to ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house. Give me a call for more information – J.P. Cook – 602-320-4253.

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7181 E Camelback Road Unit 201 Scottsdale, AZ 85251

$799,000

1 Bed

2 Baths

1,147 SqFt

Status Active

MLS # 6731911

Property Type Apartment

Price Type --

Welcome to the epitome of sophistication and convenience in Old Town Scottsdale! Nestled in the heart of one of Arizona's most vibrant communities, this exquisite one-bedroom, two-bathroom condo offers an unparalleled lifestyle blending modern elegance with the energy of Scottsdale's entertainment district. This residence is a true lock-and-leave that allows for low-maintenance living in one of the most exclusive high-rise communities in Scottsdale. The smart floor plan (see docs) includes a den with an adjacent full bathroom that can be used as a home office, game room, or an extra space to host guests. This space has been meticulously maintained and is outfitted with luxury finishes and Viking appliances, including a new refrigerator, dishwasher, and microwave installed in July 2024. This unit includes a spacious walk-in closet, two parking spaces in the underground garage, and a storage unit. At the Waterfront, step into a world of luxury where every detail has been carefully curated for the most discerning tastes. Lifestyle amenities include a rooftop pool and spa with stunning, 360-degree views, a fully equipped gym, luxury his- and hers-locker rooms including steam room and massage rooms, 24/7 doorman and concierge, valet parking, and luxurious private event spaces. This private sanctuary is within walking distance of Scottsdale's renowned dining, entertainment, and cultural hotspots. Discover the allure of Old Town Scottsdale living - where luxury meets lifestyle, and every day is an opportunity to embrace the essence of cosmopolitan living in the desert. Your oasis in the heart of it all awaits!

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10503 E Fanfol Lane Scottsdale, AZ 85258

$799,000

3 Beds

2 Baths

1,934 SqFt

Status Active

MLS # 6732815

Property Type Single Family Residence

Price Type --

Exquisite Luxury Home with $10,000 Buyer Incentive! Step into luxury at 10503 E Fanfol Lane, a fully renovated 3 bed/2 bath home in the prestigious Suntree East community of Scottsdale Ranch. Nestled on a corner lot, this home captures abundant natural light without the heat, thanks to new energy-efficient windows and sliding doors. Enjoy the serenity of a private back patio while being minutes from shopping, Top Golf courses, and BASIS schools. This stunning home features new flooring, fresh paint, and modern lighting throughout. The master bath is a true retreat with a 4ft x 5ft shower and a freestanding soaking tub. The gourmet kitchen boasts custom granite, double pantries, and premium Samsung and LG appliances. With 40+ owned solar panels, an EV charger, and a finished garage with built-in storage, this home blends modern luxury with sustainability. Electric bills are often zero! The $10,000 Buyer Incentive offers added affordability, making this home an unbeatable find.

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23565 S 201st Street Queen Creek, AZ 85142

$799,000

4 Beds

2.5 Baths

2,684 SqFt

Status Active

MLS # 6738003

Property Type Single Family Residence

Price Type --

Just reduced 100k on 10/31/2024! motive seller! Semi custom home! Large backyard! **Prime Location!** This stunning custom home is located in one of Queen Creek's best neighborhoods, on a spacious corner lot. Inside, you'll find a luxurious master bedroom with walk-in closets and its own laundry room, a formal living room with a cozy fireplace, and a versatile dining area. The home also features three additional bedrooms, including a large guest suite, and a second laundry room. Outside, enjoy a large backyard with a beautiful pool, built-in barbecue, and ample space for entertaining. Situated on a .42-acre lot with 12-foot ceilings and an open floor plan, this property offers the perfect blend of comfort and style. Don't miss out on this incredible opportunity

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10037 E Toledo Avenue Mesa, AZ 85212

$799,000

5 Beds

3.5 Baths

3,042 SqFt

Status Active

MLS # 6744586

Property Type Single Family Residence

Price Type --

Experience luxury living in this 5-bed, 3.5-bath Toll Brothers home in the sought-after Cadence neighborhood of Eastmark on a desirable N/S exposure lot. This move-in-ready home features a downstairs office, an upstairs loft, and a gourmet kitchen with quartz counters, an oversized island, and premium appliances. The tile flooring throughout adds a touch of elegance, while the fully finished backyard is perfect for entertaining. Enjoy top-tier amenities, including pools, gyms, and recreation areas in this vibrant community. Don't miss your chance to own this exceptional home!

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1395 E Loveland Lane San Tan Valley, AZ 85140

$799,000

3 Beds

2 Baths

2,098 SqFt

Status Active

MLS # 6748112

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This stunning property offers the perfect blend of country living and modern convenience, situated on a sprawling 1.21-acre lot with no HOA restrictions. Whether you're looking for space to spread out, entertain, or enjoy the outdoors, this home has it all. The home features three spacious bedrooms along with a versatile den/office area that can be tailored to your needs. The primary bathroom has been beautifully remodeled with beautiful finishes. Brand new carpet in the bedrooms ensures a fresh and comfortable living experience. The 3-Car Garage offers plenty of room for vehicles, storage, and more. The expansive backyard is an entertainer's paradise! Enjoy a full-size basketball court complete with lights, perfect for day or night play. There's also an in-ground trampoline and a playground area with sand, making it a perfect place for kids! Also in the very back of the lot is electric and water for a shop. There are 2 RV gates and an RV Pad for easy access to the yard. Third car garage has a A/C wall unit, electric outlets, and can be used as a small shop/office. Just a short drive from the 24 freeway, you're less than 10 minutes away from convenient access to the rest of the valley. The Queen Creek Marketplace and Costco are only 15 minutes away, offering a wide range of shopping, dining, and entertainment options. Plus, you're close to numerous restaurants and other amenities, making this location ideal for both relaxation and convenience. This property offers a unique opportunity to own a spacious home with endless possibilities, all without the constraints of an HOA. Don't miss your chance to make this incredible home your own!

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425 S Pioneer Street Colorado City, AZ 86021

$799,000

7 Beds

6 Baths

4,935 SqFt

Status Active

MLS # 6749890

Property Type Single Family Residence

Price Type --

This very UNIQUE CUSTOM 4900 Sq.Ft. Home sits on a LARGE .96 ACRE corner lot that includes 2 Homes in ONE with 2 Kitchen spaces, 2 Laundry rooms, and separate entrances. The front entry has vaulted ceilings that lead into a large gathering area or greatroom w. marble flooring. The massive KITCHEN area comes with Massive Island, GRANITE COUNTERTOPS, custom walnut cabinets, pantry, and ALL STAINLESS STEEL APPLIANCES. The LARGE MASTER comes w/ a walk-in closet, HUGE walk-in shower, & vanity. The ''can be'' independent BASEMENT APARTMENT has family room/GAME ROOM, cold storage room, 3 Bedrooms, 2 Bathrooms & GAME ROOM with space to add a kitchen with all roughed in plumbing and electrical. The 3rd Floor has a loft area w/ 2 large bedrooms w/ a balcony and bathrooms. The BACKYARD is BEAUTIFULLY LANDSCAPED w/ auto watering system, large deck for stargazing, play set and relaxing sauna area. Extremely efficient home with high-end ANDERSON Windows, 16-Seer Mini-split climate control systems and a top of the line full home water filtration system. YOU WON'T FIND ANOTHER HOME LIKE THIS, so Hurry before it's gone.

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8520 E Mackenzie Drive Scottsdale, AZ 85251

$799,000

3 Beds

2 Baths

1,421 SqFt

Status Active

MLS # 6755430

Property Type Single Family Residence

Price Type --

Charming, newly remodeled home in prime Scottsdale location. Home features new flooring, updated and modern kitchen. New appliances, updated modern light fixtures and fresh paint throughout the home. The backyard has its own private oasis, desert landscaping, with a resort size pool and area for entertainment and private enjoyment.

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40626 N Laurel Valley Way Anthem, AZ 85086

$799,000

4 Beds

2.5 Baths

3,263 SqFt

Status Active

MLS # 6754510

Property Type Single Family Residence

Price Type --

4-Bedroom Home with Oversized Lot and Pet-Friendly Features! Welcome to this spacious 4-bedroom, 2.5-bathroom home nestled on an oversized lot in a highly sought-after neighborhood. Perfect for families and pet lovers, this property offers ample space, modern amenities, and unique pet-friendly features. A versatile den that can be used as a home office, playroom, or extra living space. A large, open-concept kitchen with plenty of counter space, stainless steel appliances, and a spacious island. A fully equipped laundry room with a standing shower that can double as a convenient dog wash station, making pet care easier than ever. The oversized lot provides plenty of space for outdoor activities. The gated side yard is perfect for pets, offering a secure space to roam.

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396 S Leisure Road Payson, AZ 85541

$799,000

3 Beds

3 Baths

2,297 SqFt

Status Active

MLS # 6780472

Property Type Single Family Residence

Price Type --

Welcome to a garden paradise on 1.48 acres. There is a main house & guest home on this property with a total of 2297 sq ft. Main home 1,457 sq ft & guest home 840 sq ft Great private location with private well. 8' tall fence & rolling iron gate, at the end of Leisure Rd. Main home is a 1997 Cavco Manufactured home with site built addition 1457 sq ft and open deck, 2 bedrooms, 2 bathrooms, completely remodeled in 2017 with a 318 sq. ft. living room addition. New kitchen with quartz counter tops, appliances & cabinets, desk area with glass china cabinets. One Juniper slab counter top, engineered hickory wood floors, & T & G pine ceilings. New upgraded electrical, new drywall, bathroom with new tub & shower, quartz & granite countertops and cabinets added. Upgraded to a propane furnace & hot water Heater, and gas stove. AC/Heater dual unit added in 2022. In 2015 a 2-car garage 30 x 28 was built with a guest room above of 840 sq.ft. This guest house has open living area with a full bathroom, wood stove, gas wall heater. Engineered Hickory wood floor, T & G pine ceilings. Garage has tons of storage and workbench, 2 closets & private workshop, washer & dryer. The acreage has outstanding views of the Mogollon Rim and Colcord Mountain. Fruit trees, a fenced garden area, many Iris bulbs, Columbine and many other perennial flowers and plants, (Holly hocks, parsley, garlic, onions, wild carrots, lilac, maple trees, 2 willow trees, apricot, peach, cherry and 2 apple trees. Aspen, Italian cypress and AZ cypress trees. rosemary bushes. Outbuildings includes: 2 Storage buildings, well houses, a treehouse with wrap around deck. Legal Description: Section: 26 Township: 10.5N Range: 14E SERIAL: CAVALP977070 U-X YEAR: 2017 MAKE: - CAVCO SIZE: 24 X 48 PART OF LOT 30 OF PONDEROSA SPRINGS ESTATES; PLAT 574; IN SECTION 26 T10-12N R14; BEG AT NE COR OF LOT 1 OF SAID SUBDIVISION; TH N42-55-47EW 86.60'; TH N01-03-23E 65.11'; TH N36-42-30E 41'; TH N53-17-30W 148.05'; TH S57-06W 171.63'; TH S75-46W 127.80'; TH N53-55-30E 292.97'; TH N75-29-33E 189.29' POB; = 1.48 ACRES M/L (OUT OF 303-16-031D)A/A 20071998 24X48 CAVCO MH VIN CAVAZLP977070X-U FEE 2005-018957

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19306 N 62nd Drive Glendale, AZ 85308

$799,000

5 Beds

3.5 Baths

3,458 SqFt

Status Active

MLS # 6758443

Property Type Single Family Residence

Price Type --

This home is nestled in a serene neighborhood with scenic walking trails, lake, a tranquil water fountain, and a nearby park, offers both beauty and convenience. You'll enjoy easy access to local restaurants, shops, a highly-rated school, and other amenities, all within close proximity. This home boasts numerous upgrades, including a fully remodeled kitchen with modern finishes, updated bathrooms, and new shutter blinds throughout. A convenient en-suite living area downstairs provides a private space for guests. Step outside to the expansive, beautifully landscaped green backyard, perfect for outdoor gatherings, gardening, or simply unwinding in a peaceful setting. This property is the perfect blend of comfort, style, and family-friendly living. New appliances, freshly painted inside/out.

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1104 E Driftwood Drive Tempe, AZ 85283

$799,000

3 Beds

3 Baths

1,942 SqFt

Status Active

MLS # 6759111

Property Type Townhouse

Price Type --

*WATERFRONT!* Experience true luxury in this exquisite, fully remodeled lakefront home located in the The Lakes community. Boasting $200k in upgrades, this 3-bed/3-bath retreat is a rare gem on the lake. The gourmet kitchen is a chef's dream, featuring high-end Café appliances, quartz countertops, a massive island with captivating lake views, and a walk-in pantry. The primary suite offers a private balcony overlooking the tranquil waters, providing the perfect sanctuary. Enjoy elegance and durability with Aquaguard flooring throughout. Thoughtfully designed with ample storage and direct garage access, new roof, new windows and new AC, this turn-key residence ensures convenience and sophistication. HOA fee includes access to Rec Center, Lap Pool, Sauna, Pickleball, playground, gym & more.

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9351 E Whitewing Drive Scottsdale, AZ 85262

$799,000

4 Beds

2 Baths

2,167 SqFt

Status Active

MLS # 6763503

Property Type Single Family Residence

Price Type --

Enjoy breathtaking views from this beautiful 4-bedroom, 2-bath single-level home, perfectly situated on the 6th fairway of Legend Trail Golf Course. This property is a rare find for the neighborhood, and won't last at this price. You have accordion doors in both the front and back of the home, making the oversized patios perfect for relaxing and entertaining. The home features an open-concept kitchen, granite countertops and refreshed cabinetry with an eat-in kitchen. Each room is unique with custom touches including the custom-built closet in primary, and one of the bedrooms is already set up as an in-home gym with custom flooring and ceiling to floor mirrors. Easy to convert to a bedroom if needed. As a bonus, residents get exclusive access to community amenities like heated pools, spas, fitness rooms, tennis and big beautiful pickleball courts, plus miles and miles of scenic walking and hiking trails. For the golf lovers, imagine rolling out of bed for an early tee time only 2 minutes away from Legend Trail Golf Club, with all the amenities you'd expect from a 5 star golf course.

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