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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5022 E Anderson Drive Scottsdale, AZ 85254

$659,990

3 Beds

2.5 Baths

2,143 SqFt

Status Active

MLS # 6710889

Property Type Townhouse

Price Type --

Welcome to Arabella, a vibrant and dynamic community in Arizona's magical 85254 zip code. Our ''Reno'' floor plan offers 3 bedrooms, 2.5 bathrooms, downstairs den, huge upstairs loft space, oversized 2-car garage, and private yard. Our professionally designed finishes include white cabinetry, quartz countertops, wood-like tile, and plush bedroom carpet. Home will have pre-plumbed soft water, smart home technology, and window treatments. Photos are of a similar home, options may vary. Under construction with completion in Aug. 2024. Close to Loop 101, Scottsdale Quarter, Kierland Commons, Desert Ridge Marketplace, Paradise Valley's Shopping, Dining, and so much more!

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22730 E Roundup Way Queen Creek, AZ 85142

$659,990

4 Beds

3.5 Baths

2,623 SqFt

Status Active

MLS # 6751475

Property Type Single Family Residence

Price Type --

This 2,623 sq ft single-story Jade plan features 4 bedrooms, 3.5 baths, and an expansive great room with a 4-panel sliding glass door. The kitchen is a chef's delight with a gourment kitchen, Hana Sky Quartz countertops, and white 42'' shaker cabinets. Enjoy modern finishes like wood plank tile floors in the living areas, upgraded carpet in bedrooms, and stylish mixed metal accents with black and gold touches. The primary bathroom features designer flooring and a tiled shower. The home also features 10' ceilings, 8' doors, a double gate, & a tankless water heater. Marquis at Mader offers a pool, spa, pickleball, bocce ball, basketball, playgrounds, and easy access to Frontier Family Park.

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606 N Hideaway Circle Payson, AZ 85541

$659,900

4 Beds

3 Baths

2,382 SqFt

Status Active

MLS # 6773639

Property Type Single Family Residence

Price Type --

Welcome to an unparalleled sanctuary —a single-family retreat nestled in a tranquil private cul-de-sac. This magnificent property sprawls across 1.5 acres of lush land with two seasonal natural springs, offering an idyllic setting that combines elegance and nature's beauty in one breathtaking location. Whether you're seeking a forever home or envisioning a rental or VRBO investment, the possibilities here are truly endless. Boasting an impressive floor size of a combined 2,900 sqft, including main home, finished basement and additional above garage living area, its thoughtfully designed with an open floor plan that instantly captivates. The property features four spacious bedrooms and three bathrooms, providing ample space for families or guests. The finished basement has blue print drawn to convert it to 2 bedrooms, one large bathroom and a kitchen with 2 outside exits,this would be an easy project for the handyman or contractor and opens up much more opportunity for the property. For those desiring additional privacy, the above-garage living quarters, including bedroom, bathroom and small kitchen, offers flexibility and convenience, perfect for guests or as a private retreat or rental home. The finished basement has approval (with reactivated permit ) for a kitchen installation, presenting a unique opportunity to create a self-contained unit or expand your entertaining space. This property design offers a detached two-car garage with pass thru option & separate 200 AMP service, ensuring ease of access and ample storage for vehicles and toys. Step outside onto the deck that promises vacation-style living with great views right at home. Immerse yourself in stunning, million-dollar views that stretch across Payson's breathtaking landscapes as well as watch as the wildlife saunter across your front and backyard truly a sight to behold. Whether enjoying your morning coffee or hosting an evening gathering, these decks offer an unparalleled vantage point to soak in the surrounding beauty. For the horse lover, this horse-friendly property is not only an equestrian's dream but also provides tranquil privacy and space for a variety of outdoor activities. The nearby conveniences enhance this serene setting, with Payson's local shops, restaurants, and schools all within easy reach, making it an ideal location for a balanced lifestyle. This gem promises the tranquility of rural living while maintaining close proximity to the community's amenities. The area's educational institutions are well-regarded, and the leisure opportunities are endless, from nearby parks to delightful eateries. Don't miss your chance to own this piece of paradise that blends luxury, utility, and natural beauty. Experience the lifestyle you've been dreaming of , a place to call home that promises a lifetime of cherished memories, or the perfect VRBO or rental home. Start your journey to owning this remarkable property. *seller owns and is selling vacant lot adjacent 604 N Hideaway. *Buyer to verify all facts

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4656 W Aztec Drive Eloy, AZ 85131

$659,900

2 Beds

2 Baths

2,299 SqFt

Status Active

MLS # 6733944

Property Type Single Family Residence

Price Type --

MOVE-IN-READY, Spectacular GOLF COURSE views abound through huge windows in great room, kitchen and master bedroom. The master bath and custom master walk-in closet are huge. Open concept kitchen features granite counters with full back splash, large island, staggered knotty alder cabinets, stainless steel appliances. Landscaped with walkways down both sides of the house. Front courtyard w/ pony wall, large back patio, including new hot tub w/pergola, and new outdoor linear gas fireplace with TV. Outdoor grill with bar height seating. A beautiful home you can compare to a new build, with all the extras included. Two car and golf cart garage, epoxy floor and professionally installed floor to ceiling cabinets. This home can come FURNISHED with few exclusions or unfurnished, buyers choice.

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3453 N Barron -- Mesa, AZ 85207

$659,900

3 Beds

2 Baths

1,571 SqFt

Status Active

MLS # 6756983

Property Type Single Family Residence

Price Type --

Fall in love with the desirable open layout featuring soaring vaulted ceilings, a gas fireplace, expansive windows, sleek wood-style flooring, & sliding glass doors to the backyard. The impeccable kitchen has SS appliances, quartz counters, mosaic tile backsplash, plenty of white cabinetry with crown molding, recessed & pendant light fixtures, & a sizable island w/breakfast bar. Retreat to the main suite offering a bay window & an immaculate ensuite w/dual sinks, glass shower, & walk-in closet. The tranquil backyard with covered patio, built-in BBQ, Travertine tile flooring, & well-maintained landscaping is excellent for memorable get-togethers! This value will not disappoint!

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16881 W Merrell Street Goodyear, AZ 85395

$659,900

2 Beds

2.5 Baths

1,903 SqFt

Status Active

MLS # 6748944

Property Type Townhouse

Price Type --

Prepare to be pleased as you drive up to this highly upgraded Villa! Beginning with the beautiful iron gate at the entrance of the home. Builder options and upgrades of $130,000 + another $30,00 in owner upgrades after construction! The fine details of the home include but are not limited to: Stone Creek Library media wall, Dagr Design Entertainment center, painted by AZ Concepts, fireplace, Shelf theory pull out drawers. Premier lighting, Neil' s garage cabinets, overhead garage storage rack, which were all owner upgrades after construction. Options and upgrades by the builder are too numerous to list but are available upon request. This is a ''MUST VIEW'' Villa! Once you experience the ''FEEL'' when you enter this home you won't want to leave!!

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9035 W Quail Track Drive Peoria, AZ 85383

$659,900

4 Beds

3 Baths

2,626 SqFt

Status Active

MLS # 6772738

Property Type Single Family Residence

Price Type --

This single-story home is ready to be yours! The 3-car tandem garage allows you to bring all your vehicles. Inside, you'll find a great open layout that seamlessly merges all areas for entertaining. Fireplace, plantation shutters, fire sprinklers, durable tile flooring, pre-wired surround sound, & soothing paint are worth mentioning. The kitchen has staggered cabinets w/crown moulding, SS appliances, tile backsplash, a pantry, granite counters, & an island w/breakfast bar. The semi-open den is ideal for a formal dining, office, game area, you name it. Discover the main bedroom boasting backyard access & a private bathroom w/huge walk-in closet & a separate tub/shower. The backyard offers fragrant citrus trees, grassy area, pool, spa, palm trees galore, & covered patio. Move-in ready!

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615 Andante Drive Sedona, AZ 86336

$659,900

3 Beds

2 Baths

1,622 SqFt

Status Active

MLS # 6773472

Property Type Manufactured Home

Price Type --

Location, location, location! Your Sedona retreat awaits you at this newly renovated, updated home located near soaring Thunder Mountain, Chimney Rock and Coffee Pot. Move-In Ready or Short-term rental possible (buyer to confirm) New roof August 2024 to ensure years of weather-ready living. Vaulted ceilings throughout and dormers in the main living spaces add to the open and airy feel. Easy-to-care-for LVP floors - with custom baseboards throughout. Modern Zebra blinds brighten windows in all rooms across the front of the house; new, woven, honeycomb blinds are found at windows across the back. You will surely enjoy entertaining in the charming, sunlit, well-appointed, eat-in kitchen with newer appliances and lighting. Formal dining is also an option, and views of the red rocks (More) from both rooms. Centered in the living room is a wood burning fireplace with new tile and an electric blower for added winter warmth. Designer bathrooms have been fully upgraded with new tile, showers, sinks, granite countertops, lights and mirrors. The primary bathroom also boasts a stand-alone soaker tub from which mountain views can be enjoyed while soaking away the stress of the day. (Bedrooms currently feature new smart TVs and Arizona-made, Brooklyn Bedding mattresses, CA King in primary, head-and-foot adjustable Queen in second, and bunkbeds with twin and full in third bedroom.) You'll also find large closets, fresh paint and upgraded fans in the bedrooms. The third bedroom could also function nicely as an office/den/library, or nursery. The laundry room is outfitted with a heavy-duty Whirlpool washer and dryer, two lockable storage closets and a built-in desk/folding counter. More storage is found in the backyard shed with a new roof, easily transformed into a Mancave or Sheshed. This one-level home offers 1,621 square feet of comfortable living space. Two huge, front and back decks with new, built-to-code railings - add considerably to outdoor living, and with ample space to practice yoga, entertain or simply relax and enjoy the weather and beautiful views of the Red Rocks! This property is close to a network of forest hiking and biking trails, the Amitabha Stupa and Peace Park - all this away from the hustle and bustle - yet just minutes from shopping, restaurants, theaters and galleries. Location, location, location, indeed!

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532 N Bell Drive Chandler, AZ 85225

$659,900

4 Beds

2.5 Baths

2,788 SqFt

Status Active

MLS # 6777139

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3-bath home featuring soaring vaulted ceilings and a spacious layout where the kitchen seamlessly opens up to the family living space. The modern kitchen boasts a convenient island and stainless steel appliances, including a microwave, range, and dishwasher, making it perfect for entertaining. The primary en-suite is conveniently located on the main level, while upstairs you'll find three additional bedrooms and a versatile loft area. Step outside to the large back porch, ideal for relaxation, and enjoy the refreshing pool, creating a perfect outdoor oasis for gatherings and summer fun.

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9233 E Sector Drive Mesa, AZ 85212

$659,900

4 Beds

3 Baths

2,410 SqFt

Status Active

MLS # 6774348

Property Type Single Family Residence

Price Type --

MOVE IN READY HOME! This WILSON plan was the former Model and it is stunning! This home includes all the appliances, chandeliers, window treatments and ceiling fans in the home. This home features 'Brellin Purestyle' (Greige color) cabinets with Satin Nickel pulls throughout the home. 'Bianco Levanto' Quartz countertops in Kitchen and Jasmine White Quartz countertops in Owners Bath and Bath 3. Upgraded shower surrounds in bathrooms and upgraded wood tile throughout the downstairs and carpet flooring in the bedrooms. The finished backyard includes an impressive fireplace welcoming family and friends to cozy up! Too many upgrades to list!

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2114 E Escuda Road Phoenix, AZ 85024

$659,900

4 Beds

3 Baths

2,580 SqFt

Status Active

MLS # 6656083

Property Type Single Family Residence

Price Type --

Welcome to this well maintained home in the highly coveted Mountain Cove subdivision. Rare 4 bed/3 full bath floor plan in a prime North Phoenix location with beautiful mountain views, N/S exposure, friendly neighborhood ambiance and no HOA. You'll love the soaring vaulted ceilings upon entry and in the formal living and dining areas. The kitchen, complete with upgraded cabinetry, granite counters and a spacious island, seamlessly flows into a second living area with a custom fireplace. Lower level hosts one bedroom and full bath, along with an office featuring a built in workstation that can easily be converted to a 5th bedroom. Upstairs you'll find a bonus loft area. The upstairs primary suite features a balcony for enjoying the scenic views. Step outside to a low maintenance backyard, covered patio and built in BBQ for relaxation and entertaining. New roof March '24. Don't miss this opportunity to live in close proximity to the 51, 101 and I-17 freeways. Enjoy everything that Desert Ridge, High Street and Scottsdale has to offer. Close to hiking trails and in the Paradise Valley School District.

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10757 N 74th Street Unit 2012 Scottsdale, AZ 85260

$659,900

3 Beds

2 Baths

1,932 SqFt

Status Active

MLS # 6707453

Property Type Townhouse

Price Type --

Reduced!! Complete remodel! Recent comp in same complex sold July 2024 for 691k with no upgrades. 3 bedroom, 2 bath, 2 car garage in the perfect location. Newly updated with new plank and tile floors, new cabinets with soft close doors and drawers, all new light fixtures including LED can lights, new faucets, new sinks, updated showers with glass doors, new freestanding tub. This is a master bedroom split floorpan, open kitchen with dining area, great room with electric fireplace and electrical on wall for your flat screen TV. New 18 bottle wine fridge in kitchen, large island with navy cabinets with gold hardware, extra storage and waterfall countertops. White wood shutters on the dual pane insulated windows along with insulated walls for dramatically sound reduction. Click for more 2 car garage has upgraded metallic epoxy floors. New paint everywhere. Large bedrooms to fit king beds and furniture. Big fans in each bedroom with remote controls. Each bedroom has a walk-in closet with shelves, the master has and drawers with locks. Each bathroom has new cabinets, new light fixtures with new black framed mirrors. There is a separate large laundry room with frontload washer and dryer with new cabinets and more storage behind the door. There are 2 balconies, one is a large covered balcony big enough for a comfortable patio seating set and the other balcony is uncovered. Close to the 101 freeway, great restaurants, grocery stores and entertainment. Townhome is north south exposure. You'll love this! Community has a private community pool and common areas are always clean. Please come see and enjoy. open to offers

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