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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948 N 87th Street Scottsdale, AZ 85257

$612,551

3 Beds

2 Baths

1,484 SqFt

Status Active

MLS # 6776414

Property Type Single Family Residence

Price Type --

Prime Scottsdale Cul-de-Sac Home Near Old Town & Fashion Square Discover this stunning Scottsdale home, perfectly located near Old Town Scottsdale, Fashion Square, and top-rated restaurants. Enjoy elegant engineered hardwood floors and a spacious, open kitchen with scenic views, perfect for entertaining. The master bedroom features a private garden view and a luxurious walk-in tiled shower. The central courtyard enhances indoor-outdoor living, while the yard offers beautiful sunrise views. Additional features include a removable pool fence, energy-efficient windows (2016), and 220-volt outlets. Close to community trails and the Scottsdale wash trails, parks, and the vibrant Scottsdale lifestyle—don't miss this exceptional home!

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8133 E Sunwing Ridge Drive Hereford, AZ 85615

$612,000

4 Beds

4 Baths

3,268 SqFt

Status Active

MLS # 6781824

Property Type Single Family Residence

Price Type --

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10864 E Texas Avenue Mesa, AZ 85212

$611,888

4 Beds

3 Baths

2,358 SqFt

Status Active

MLS # 6761150

Property Type Single Family Residence

Price Type --

MLS#6761150 February Completion! Introducing the exquisite Paisley floor plan at La Mira Discovery, featuring 4 bedrooms, 3 bathrooms, a loft, and an attached 2-car garage. Step through the welcoming front porch and down the extended foyer to find a private bedroom and bath—ideal for guests or family. Beyond the staircase lies the expansive gathering room, a spacious kitchen with an island, and a connected dining area, perfect for everyday living and entertaining. Upstairs, you'll discover two additional bedrooms, a versatile loft, a convenient laundry room, and an impressive owner's suite. Structural options include: soft water loop, extended covered outdoor living, garden tub at primary, shower in lieu of tub at secondary bath, and paver front porch.

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4321 Sawbuck Way Wickenburg, AZ 85390

$611,595

3 Beds

2 Baths

1,828 SqFt

Status Active

MLS # 6770394

Property Type Single Family Residence

Price Type --

Flourish, Homestead, 2 bed 2 bath, Design materials and selections made personally by the talented Shea interior design team, Induction builtin appliance package, matte black accents throughout, heavy glass enclosure at primary bath, upgraded quartz counters at kitchen and both bath, custom designed mosaic tile at kitchen and both bath, cabinet pull outs and recycling with pull out drawers under cooktop, service door at garage, 15ft sliding wall of glass at living room, upgraded electrical throughout, over $23,000 in upgraded tile flooring throughout the house, 4ft garage extension, custom landscape and irrigation at front and back, under cabinet lighting at kitchen. Discover current incentives at Shea sales office.

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18370 W Goldenrod Street Goodyear, AZ 85338

$611,000

4 Beds

2.5 Baths

2,713 SqFt

Status Active

MLS # 6764487

Property Type Single Family Residence

Price Type --

Welcome to your new sanctuary nestled in the heart of the vibrant Master Planned Community of Estrella. Step inside this beautifully updated energy-efficient 4-bedroom, 2.5-bathroom home where modern elegance meets comfortable living. As you enter, you'll be greeted by a stylish grey color palette that sets the tone for the contemporary atmosphere throughout. The primary bedroom is a luxurious retreat, boasting private access to the back patio, complete with a sprawling ensuite featuring double vanities, a deep soaker tub, and an expansive walk-in tiled shower. The secondary bedrooms offer ample space and privacy, thoughtfully separated from the primary suite. The second full bath is a haven of relaxation, showcasing a walk-in tiled shower with sleek finishes. Prepare to be enchanted by the chef's dream kitchen, equipped with a large island, Wolf gas cooktop, stainless hood, granite counters, subway tiled backsplash, wall oven/microwave, and an oversized pantry to fulfill all your culinary desires. Convenience meets functionality with a mudroom strategically located at the garage entrance, providing the perfect spot to unload shoes and bags after a busy day. Outside, the private oversized backyard beckons with a sprawling side yard ideal for a dog run, complemented by artificial turf, a paver seating area, and a soothing hot tub - the ultimate oasis for relaxation and entertainment. With a spacious three-car tandem garage, parking dilemmas are a thing of the past. And when it comes to amenities, Estrella offers a plethora of resort-style options including two residents clubs, pools, fitness centers, a splash park, lakes, hiking/biking trails, and abundant parks - ensuring there's always something for everyone to enjoy. Don't miss this opportunity to embrace luxury living in a community designed for those who appreciate the finer things in life.

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14132 W Bent Tree Circle Litchfield Park, AZ 85340

$610,500

2 Beds

2 Baths

1,800 SqFt

Status Active

MLS # 6747586

Property Type Single Family Residence

Price Type --

Welcome to Luxury Living in an Exclusive Gated Community. Come view your fully remodeled dream home in our prestigious gated community, featuring a gorgeous 2-bedroom, 2 -bath residence with a den. This beautifully designed home features modern updates such as Spanish Porcelain flooring, Porcelain countertops, and even walk-in Marble showers with seated areas in both showers! As you step inside, you'll feel the love that was put into this home as it carries a cozy, warm feeling while still upholding a very modern and elegant interior. This home is ideal for both casual dining and entertaining guests with its custom built in dining table & butler's kitchen. This is not all this property features as you'll be able to enjoy your jacuzzi that is amazing for hosting or just giving yourself some personal relaxing time! Living in this gated community ensures privacy and security. The security cameras that are conveying with the home will also give you that reassurance needed as you're able to view your outside premises with one touch of a button! Don't miss out on this amazing opportunity to make this house, your home!

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22723 W Calle De Los Flores Drive Wittmann, AZ 85361

$610,000

4 Beds

2 Baths

2,194 SqFt

Status Active

MLS # 6769023

Property Type Single Family Residence

Price Type --

Experience luxury living in this custom-built Territorial home on a sprawling 1.2-acre lot, offering breathtaking mountain views. This highly upgraded gem boasts elegant maple cabinets, sleek granite countertops, and stylish tile flooring. Inside, the stunning wood vega poles add a touch of rustic charm, while expansive covered patios invite you to enjoy outdoor living at its finest. The home features a formal dining room and a spacious, open kitchen that flows seamlessly into the great room—perfect for entertaining. Retreat to the master suite, complete with a large soaking tub, double sinks, a generous walk-in closet, and split bedroom design for added privacy. With modern amenities like pre-wiring for security, satellite, and ceiling fans, plus an extended 3-car garage with extra storage, this property has everything you need. Best of all, there's no HOA, giving you the freedom to truly make this space your own. The 12x45 covered RV parking offers a fantastic opportunity for extra income during the winter months when the ropers are in town, or it can easily be transformed into horse facilities. This home is the perfect blend of luxury and versatility, designed to fit your lifestyle. Don't miss out on owning this desert oasis!

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12535 N 87th Drive Peoria, AZ 85381

$610,000

5 Beds

3 Baths

3,026 SqFt

Status Active

MLS # 6783306

Property Type Single Family Residence

Price Type --

This gorgeous 4 bed, 3 bath, tri-level residence now on the market is for you! Great curb appeal, a manicured landscape w/lush grass, a 3 car garage, and an RV gate are just the beginning. Discover a spacious dining & living area w/vaulted ceilings, perfect for entertaining. Soft carpet in all the right places, elegant light fixtures, and custom palette throughout! The lower level boasts a cozy family w/stylish wood-look flooring, plantation shutters, and a brick fireplace to keep you warm during the coming winter months. The fabulous eat-in kitchen is comprised of wood cabinetry w/granite counters, a pantry, stainless steel appliances, and an island complete w/a breakfast bar. New pool pump in 2020 & new RV pad and gate! You'll love the primary bedroom, featuring soft carpet, a walk-in closet, and a full ensuite w/dual sinks. Also including an expansive backyard w/a covered patio and a fenced pool, this home is a dream come true! Act now before it's gone!

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140 E Coronado Road Phoenix, AZ 85004

$610,000

3 Beds

3 Baths

2,650 SqFt

Status Active

MLS # 6752538

Property Type Apartment

Price Type --

RARE historic Villa del Coronado two units have been combined to bring you 2,650 bright & spacious livable square feet, 3 bedrooms & 3 bathrooms with 3 private view patios outside extensive walls of glass w/ pool & tree top views in this highly desired Central Phoenix location. The midcentury modern development was carefully designed and constructed by renowned real estate developer Lionel V. Mayell (known to be the pioneer of early midcentury garden living). It is positioned adjacent to the Phoenix Theatre & Art Museum. It is also minutes from the Heard Museum, Roosevelt Row Arts District, shopping, Light Rail, & in addition to iconic restaurants such as Durant's. Community features 2 large pools and expansive park-like grassy lawns where you can BBQ, relax, & enjoy beautiful sunny AZ afternoons. This home is inclusive of an inside laundry (accommodating full size washer/dryer), gas cooktop, 2 refrigerators, and 2 garage spaces w/ storage. The HOA covers all your utilities (gas, water, electric, sewer, trash, & exterior maintenance) & property taxes. The modern updated design is ready for move in - no work/remodeling needed. This is a step up from a regular cooperative, as each unit has its own Warranty Deed.

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2122 W Virginia Avenue Phoenix, AZ 85009

$610,000

5 Beds

2 Baths

2,150 SqFt

Status Active

MLS # 6760861

Property Type Single Family Residence

Price Type --

Come see this Newly Constructed, 4 bedrooms, 2 baths, New AC Units, A Casita, or Mother-in-law suite, near Encanto Park, Easy access to I -10 & I -17 Freeways, Shopping, Restaurants, Great Schools, Arizona State Fair Grounds, Downtown Phoenix's Vibrant Cultural Scene, Dining & Entertainment, Easy Access to Encanto 18 Golf Course

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5060 S Las Mananitas Trail Gold Canyon, AZ 85118

$610,000

3 Beds

2 Baths

2,184 SqFt

Status Active

MLS # 6767301

Property Type Single Family Residence

Price Type --

Superstition foothills beauty combines amazing mountain views with a tastefully furnished home. The soaring ceilings and louvred shutters afford natural light as desired. The huge primary suite contains a sitting room, spacious vanity, walk in closet and glass shower + tub. Sophisticated, open kitchen hosts stainless appliances, newer large granite island and lovely cabinetry with pull outs all around. Yard includes a refreshing pool with built in table, water fall, pergola with seating. and a fire pit for chilly winter nights Natural habitat between neighbors and fencing enhances your privacy. A built in BBQ, fridge, wet sink & burner and citrus trees complete the back. A 3 car garage contains more storage cabinetry and a sealed floor.

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3940 S Velero Street Chandler, AZ 85286

$610,000

4 Beds

2 Baths

2,120 SqFt

Status Active

MLS # 6767814

Property Type Single Family Residence

Price Type --

Location, location, location! This spacious home has it all! Four bedrooms, 2 full bathrooms, formal living & dining rooms, family room, 3 car tandem garage and sparkling pool! This home has lots of natural light and an open, split bedroom floor plan. The kitchen has a kitchen island with breakfast bar and overlooks the family room with gas fireplace. The kitchen range is currently gas; however, it is wired for an electric stove. Inside laundry with cabinets is off kitchen area. The Primary bedroom has an en suite bathroom with separate shower & tub, dual sink vanity and large walk-in closet. The low maintenance backyard has a covered patio and play pool. Community offers lush, landscaped greenbelts, playground and is within a convenient Chandler neighborhood near Loop 202 and near major shopping and dining. This home is being sold by the original owners and is a must see!!!!

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