Watch below as I discuss what I anticipate for the housing market in the valley over the back end of 2018.
What did you think? If you have any questions, feel free to email me!
Supply continues to be down (5 year low), but prices have not risen too much, too fast. “But Jeff isn’t that a bad thing!?” NO! It’s actually great! With an overall appreciation rate of 5.6%, the market is growing steadily and is balanced. As a result it is likely maintainable for the back half of 2018. I don’t know about you, but a maintainable and growing market, gets me excited! If you want to read more about this mind-set, check out my article on a Healthy vs “On Fire” Market.
Now 92% of the market place is under $5000,000. That segment is appreciating faster, with homes Flying off the market. I can confidently say that when sellers list their homes under $500k with the Sibbach Team, we are selling just about all of them in less than 30 days. Most of them being sold within a few days of going active on the market, and some even Before hitting the MLS.
Now the overall application rate is being held down by the upper end of the market place. With 11 months of supply of homes over $1,000,000, that segment is not as “hot” overall. However we are finding that there is an incredible amount of demand for upgraded homes that are Priced Right. I call it the “HG TV” effect, where people want move in ready, upgraded homes. This is why at the Sibbach Team we advocate for sellers to make SMART upgrades that will get them Top Dollar when selling. We even offer a Free 1 Hour Staging Consultation by one of our professional stagers.
Overall I am excited for what is to come for the remainder of 2018!
So if you are ready to start the home search process, and want us to help you find off-market properties that aren’t on the MLS, or you are ready to sell your home and get top dollar, give us a call. 480-500-1738
