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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2185 W Highridge Road Wickenburg, AZ 85390

$664,900

3 Beds

2 Baths

1,886 SqFt

Status Active Under Contract

MLS # 6780211

Property Type Single Family Residence

Price Type --

Price Correction! We are motivated! PANORAMIC VIEW AS SOON AS YOU WALK IN! HORSE PROPERTY ON 2.2 ACRES IN HIGH END SUBDIVISION. NO HOA! Kick off you boots and relax in this incredible Santa Fe home with views of Vulture Peak. 3 BR/2 BA. Open, SPLIT Floorplan with Bee Hive Fireplace. Wood Doors. Owners bedroom has private entrance and full ensuite/ walk in closet.. Kitchen has plenty of storage and view of the desert. CLOSE TO TOWN AND ROPING. OVERSIZED 3 Car Garage! Room for LARGE GARAGE/SHOP with out obstructing any VIEWS. Customize the horse set up to YOUR liking. AMPLE PARKING IN THE CIRCULAR DRIVE. BRING YOU TOYS AND CAMPER. COVERED PATIO AND FENCED YARD. PRICE FOR A QUICK SALE.

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10337 E Brown Road Mesa, AZ 85207

Open House

$664,900

3 Beds

2 Baths

2,238 SqFt

Status Active

MLS # 6756063

Property Type Single Family Residence

Price Type --

**PRICE REDUCED! HORSE PROPERTY, AMAZING INVESTMENT POTENTIAL WITH RU43 ZONING! Welcome to this expansive 3-bedroom, 2-bathroom ranch-style home in Mesa, sitting on OVER AN ACRE OF LAND! With 2,238 sq. ft. of living space and a total lot area of 46,623 sq. ft., this property is perfect for those seeking space, privacy, and versatility. As you enter, you'll notice the tile flooring throughout the house, adding durability and a cohesive look. The spacious living and dining areas provide ample room for gatherings and family time. The kitchen features a convenient island and plenty of cabinets, making it ideal for cooking and storage. The bedrooms are generously sized, with the primary suite offering a walk-in closet and a bathroom with double sinks for added comfort. There's also an indoor laundry hookup for your convenience. The exterior boasts a huge covered patio, ideal for outdoor entertaining or relaxing in the shade. The roof was updated in 2016, and the brand-new A/C unit ensures the home stays cool year-round. The water heater was replaced in 2023, giving you peace of mind. This property is a horse lover's dream, featuring a stable and corral with plenty of space for riding or caring for animals. An additional garage and shed provide extra storage, and with over an acre of land, there's ample room for expansion or customization. There's also potential to convert part of the home into a separate apartment, creating opportunities for rental income or multi-generational living. The motivated seller is ready to make a deal, so don't miss out on this fantastic opportunity to own a spacious, versatile property in a great Mesa location.

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8594 E Kelly Road Prescott Valley, AZ 86315

$664,400

4 Beds

3 Baths

2,575 SqFt

Status Active

MLS # 6721065

Property Type Single Family Residence

Price Type --

Motivated seller! Enjoy spectacular sunsets and views from this 4 bed/3 bath home. 5th bedroom accessed through another bedroom. This lovingly built owner constructed home is on a level 10 acre parcel conveniently located close to highway 89A. Super desirable area just off Coyote Springs Rd. The original owner lovingly built this unique house with many special features: a fireplace that heats the entire house, and a basement bunker. 1200 sq ft metal workshop building with a security system which can house 6-8 vehicles and has living quarters with kitchen and bath. Plenty of room for RVs and toys, horse facilities or countless other possibilities! New vinyl plank flooring, new HVAC and newly remodeled kitchen. Only 22 minutes to the heart of Prescott, and a quick ride to Jerome/Phoenix.

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537 N Jay Street Chandler, AZ 85225

$664,000

4 Beds

2 Baths

2,436 SqFt

Status Active

MLS # 6750757

Property Type Single Family Residence

Price Type --

Step into timeless Vintage - fabulous 4bedroom-3 min Downtown Chandler-block build & original-yet trending Plaster Design Finish/Textured walls blend harmoniously w/ the authentic charm of 70's -ERA cupboards, stunning saltillo tiles that grace each room. 3wall ovens/Open kitchen floor plan, designed for both culinary delights/comfortable seating for over twelve guests, making every meal a memorable event. Experience the warmth of the family room's cozy fireplace & view of the patio. Then another fireplace providing unique ambiance in the fourth bedroom, which doubles as a study. Outside, the deep diving pool offers endless family fun & relaxation, making this home a truly once-in-a-lifetime opportunity to own a piece of history w/the comfort of todays' modern feel

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15134 W Corrine Drive Surprise, AZ 85379

$664,000

5 Beds

3.5 Baths

3,505 SqFt

Status Active

MLS # 6766081

Property Type Single Family Residence

Price Type --

Gorgeous Marley Park home with 5 bedrooms, 3.5 bath, den, loft, casita with private entrance, and 3 car garage has been meticulously maintained. Chefs kitchen with oversized island, granite countertops, backsplash, gas stove, butlers pantry and custom farm sink. Upstairs features large primary suite with double sinks, separate tub and shower, 2 walk in closest. 3 guest bedrooms have private bathrooms. This home also features wood-look tile, plantation shutters, built in bookcase, custom iron door, garage cabinets w/ epoxy floors. PLUS OWNED SOLAR. Its resort-style backyard boasts great outdoor living, gracious pool with swim up bar, waterfall feature, built-in BBQ, travertine floors and pergola. This home is located minutes away from the new Prasada shopping and restaurant district.

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5609 W Bullhead Road Eloy, AZ 85131

$664,000

2 Beds

2.5 Baths

2,215 SqFt

Status Active

MLS # 6674296

Property Type Single Family Residence

Price Type --

SELLERS ARE MOTIVATED! This newly built Miramonte home has many practical extras, including a four-foot extended two-car garage, a third garage with many cabinets, and a workbench. All three garages are insulated. Wholly owned solar for low utility bills. Plantation shutters throughout. There is more storage than average and a beautifully landscaped corner lot. The spacious and open floor plan is perfect for entertaining or just relaxing and doing nothing. The easy-maintenance kitchen has lots of cupboards and a large walk-in pantry. The backyard is truly an outdoor living space, fenced for privacy with a built-in gas natural gas stub for the BBQ for many enjoyable days and evenings enjoying the outdoors. Walking through the door, you will fall in love with this home.

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21320 N 56th Street Unit 1199 Phoenix, AZ 85054

$664,000

2 Beds

2 Baths

1,884 SqFt

Status Active

MLS # 6747324

Property Type Apartment

Price Type --

Welcome to your dream condo in the resort-style community of Bella Monte! This rare first-floor gem features 2 bedrooms, plus an office/ or guest room, making it the largest floor plan in Bella Monte. Step inside and experience the open-concept layout and charming stone fireplace. The upgraded kitchen boasts solid wood cabinetry and sleek brand new stainless steel appliances. Step outside to a spacious and private back patio, perfect for outdoor living. A 2-car garage adds convenience and keeps your car cool. Located near Highway 101 and High Street, you're just minutes away from fantastic dining, shopping, and Paradise Valley. Experience the ease of low-maintenance living without compromising on luxury. Bella Monte boasts 3 pools, spas and workout rooms! Photos virtually staged.

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2717 N 216th Avenue Buckeye, AZ 85396

$663,219

4 Beds

3.5 Baths

2,639 SqFt

Status Active

MLS # 6743381

Property Type Single Family Residence

Price Type --

Ready in November!! Brand New Never Lived In! Discover your mountain-view sanctuary in Arizona! This 4-bed, 3.5-bath home with a 2.5-car garage offers a quick move-in. Nestled in The White Tank Mountains, enjoy privacy and stunning views. Energy-efficient home. Welcome to The Juniper Floor Plan, a magnificent single-story haven meticulously designed to offer space, comfort, and versatility. Boasting an expansive 2,639 square feet, this home features 4 bedrooms, 3.5 bathrooms, and a 2-car garage, along with two additional flex rooms.

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25149 N 171st Avenue Surprise, AZ 85387

$663,161

4 Beds

3 Baths

2,660 SqFt

Status Active

MLS # 6776904

Property Type Single Family Residence

Price Type --

MLS#6776904 March Completion! Experience true multigenerational living with the Zion plan at Asante! Step through the welcoming porch into the foyer. To one side, discover a private multi gen suite featuring a bedroom, a dedicated living area, bathroom, a one-car garage, and a separate entry from the outside as well as into the main home. In the main home, you'll find a formal dining area, a powder room, a laundry room, and entry to your two-car garage. At the heart of the home, a spacious great room seamlessly connects to a kitchen with an island, casual dining space, and covered outdoor living area. Tucked away in the back, the primary suite offers a spa-inspired bathroom and a large walk-in closet—your perfect retreat. Structural options include: paver front porch, garage service door, interior door at hall , interior door at multi-gen living, tile super shower at primary, gourmet kitchen, and pre-plumb for laundry sink.

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19781 S 231st Way Queen Creek, AZ 85142

$663,003

3 Beds

3 Baths

2,290 SqFt

Status Active

MLS # 6583849

Property Type Single Family Residence

Price Type --

READY FOR MOVE IN!! 5 BEDROOM, 3 BATH 10 'CEILINGS, GOURMET KITCHEN LAYOUT, UPGRADED CABINETS, QUARTZ KITCHEN TOPS, TILE FLOORING, ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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17978 W Long Lake Road Goodyear, AZ 85338

$662,995

5 Beds

3 Baths

2,612 SqFt

Status Active

MLS # 6772553

Property Type Single Family Residence

Price Type --

Modern family deluxe. The Kenly's welcoming extended covered porch and inviting foyer hallway flow right into the spacious great room and bright casual dining area, with views to the desirable covered patio beyond. The well-designed gourmet kitchen is equipped with a large center island with breakfast bar, plenty of counter and cabinet space, and ample walk-in pantry. The superb primary bedroom suite is complete with a king-size walk-in closet and spa-like primary bath with dual-sink vanity, large luxe shower, and private water closet. Central to a generous loft, secondary bedrooms feature sizable closets and shared hall bath with separate dual-sink vanity area. Additional highlights include a versatile office, convenient powder room, centrally located laundry, and additional storage.

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3012 E Beryl Avenue Phoenix, AZ 85028

$662,500

3 Beds

2 Baths

1,600 SqFt

Status Active

MLS # 6689947

Property Type Single Family Residence

Price Type --

***PRICED $55K BELOW APPRAISED VALUE*** Your very own renovated, redesigned and reimagined home in the highly sought after Sheaborhood area of North Phoenix with No HOA on nearly a quarter acre! This home features an open concept, a fully renovated kitchen that rivals those in million dollar homes and a primary suite that will have you feeling like the spa is in your very own home. It features a BRAND NEW ROOF all the way down to the sheathing, NEW WIRING, NEW PLUMBING, NEW HOT WATER HEATER and NEW WINDOWS, so you can have peace of mind that all your major items are already taken care of. Both bathrooms and the primary suite have been generously extended, while the living area was beautifully opened, making this home perfect for those craving a modern living experience in an established neighborhood. This property is nestled on nearly a quarter acre lot on a quiet street in close knit, deeply adored community. Upon driving up to the home, you'll be welcomed by a freshly painted exterior with an impressive walkway leading you to your luxurious and oversized front door. When entering the home, you will find a bright, spacious great room complete with a large island and brand new slider. On the west wing of the home, you will find three generously sized bedrooms, a huge guest bathroom with an extended vanity and dual sinks, a spacious primary suite and a custom primary shower that rivals those in million dollar new builds. This home has an extended laundry room, which is a rare find in this neighborhood and is sure to appease every modern buyer. The backyard has MOUNTAIN VIEWS, tasteful landscaping, upgraded, modern gravel and luxurious turf.

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