Since the end of August, the number of active listings has stayed pretty steady (+251 homes)

The number of single family homes is 15,377 (up 104). Our current inventory is roughly the same at a 2.39 month supply. Both the overall and just single family home markets have an increased inventory of approximately one percent. I believe the slight increase of listings is mostly regular sales due to the fact that prices have come up a little in certain areas and people can now sell and move up to a larger home (or down to a smaller one!) This Saturday I showed a home in Westwing Mountain in Peoria listed about 10-15% over market value. It was the first day it could be shown and was held open. There was a steady stream of people through it and the home is under contract as of yesterday. I would dare say they had multiple offers and it sold for over asking price! That does not happen in anything other than a seller’s market!

    Goodyear’s inventory is up about the same as the complete average 2.77 month supply

Single family under $250,000: 297, 139 closed in last 30 days (2.1 month supply) The inventory is up about 10% since the end of August, but still a shortage. Much of Goodyear was developed prior to the housing boom so I do believe the majority of the increase is from regular sales.

                So, things are continuing to look up, have faith that we will come out of this hole we have been in for four years!

                I just want to leave you with some advice. TRUST your Realtor! Many people I work with for the first time have a reluctance to be up-front with how they feel about a home because they don’t want me to know how much they want it! Remember, I’m on YOUR side and it’s my job to get you the best price and terms I can. I never have looked at real estate as a sales thing, I’m your adviser and confidant. I have talked more people out of buying homes than I have into! It’s my standard of practice to go over comparable sales with my buyers before writing an offer on a home. There is really no hiding from the truth so why avoid it? In a real estate transaction there are 3 values to a home; what the market value is, what the seller thinks its worth and what the buyer does! Once the buyer and seller agree to a value, that value is either confirmed or disputed by an appraiser if the buyer is getting financing. If you are paying cash, spend another $500 on an appraisal-get confirmation!

                So, hang in there everyone, watch for the next post around the end of this month and see where the trend takes us. If anyone ever needs any advice, go to my website and contact me, I’m happy to help even if you are working with another Realtor.

-Neal