Here is your Phoenix metro area Real Estate Weekly Market Update! The following data was pulled from the Arizona MLS (ARMLS) on the date listed below:
Key points from this data:
- In Maricopa County the number of active listings has increased by 91 this week.
- The median list price has increased to $519,900 across Maricopa County, Scottsdale had a dip 0f $100,000 this week.
- Average days on market came down 2 days around the valley, Scottsdale dropped 9 days but Tempe jumped back up 17 days.
- Number of active rentals has decreased by 80 throughout Maricopa County.
- Rent pricing continues to remain stable and Tempe just saw a $203 dollar jump.
BIG NEWS in Real Estate:
1. 6 best places to find affordable homes in Phoenix, for full article click here:
Phoenix has long been recognized as the place to go if you want to buy a house at a reasonable price. With year-round sunshine, stunning desert landscapes, vibrant southwestern culture and cuisine, the Phoenix metroplex is one of the most sought-after cities in America for relocation. Many Phoenix neighborhoods offer affordable homes and strong employment prospects to those who are priced out of more expensive cities. Although Phoenix is becoming increasingly costly as people move in from other American cities and towns, there are still many interior areas of town and outlying suburbs where you can buy a house for less than $500,000.
- Compared to other more expensive cities, Phoenix’s median home sales price sits under the $500,000 mark and ranks seventh with a purchase price that’s more of a bargain than the six other cities that rank above it.
- As of February 22, 2022, the median home sales price for a single-family home in Phoenix was $440,000 compared to the same time last year, at $340,000.
- Though the median price jumped $100,000 in a year, and is expected to continue climbing, that’s even more reason to seriously consider relocating to Phoenix before you eventually get priced out.
- Though competition is still high, these bargain burbs have more supply now than they did last year. As of February 22nd, there were 2,225 active listings in Maricopa County for homes listed under $500,000, just 10 shy of what was available on the market this same time last year.
- Ahwatukee Foothills, Median Home Sales Price: $419,950
- Chandler, Median Home Sales Price: $490,000
- Deer Valley, Median Home Sales Price: $410,000
- Mesa, Median Home Sales Price: $427,000
- Garfield, Median Home Sales Price: $419,000
- Tempe, Median Home Sales Price: $458,000
- There are many sprawling suburbs that offer homes at reasonable prices, nestled in safe and convenient locations, with access to outdoor activities and convenient amenities many buyers desire.
2. Scottsdale developer plans attainable housing through land leases, manufactured homes for full article click here:
Jim Mullin, founder and CEO of American Resort Communities, has proposed three projects aimed to create attainable housing, in which single-family homeowners will buy the residence, but lease the land from the landowner, making the housing more affordable because the sale does not include the land.
- The company, called TerraViva, will develop the sites with high-end amenities, and the communities will include professional property management and oversight of community events.
- The communities, which are in Prescott Valley, Casa Grande and Sahuarita, are in the entitlement phase now, but will feature single-family manufactured homes ranging in size from 1,100 to 2,500 square feet and two to four bedrooms. The houses will cost between $200,000 and $280,000, and people who buy the houses will pay rent to the landowner to lease the land.
- Leases will be one-year terms and reset every year. If a person chooses to sell their home during the lease term, the landowner will create a new lease for the new owner.
- The proceeds generated from lease payments will be used to create amenities in the communities, including a clubhouse, fitness and business center, tutor center, sport courts, trails, pool, hot tub, splash pad, ramadas, entertainment lobby and playgrounds.
- The community will have a process in place to screen buyers to ensure the homes are owner-occupied, not purchased by investors and leased.
- The homes on the property will be individually owned, but the land could eventually be purchased by an investor.
- In addition to the housing communities, (they are looking at) creating a luxury RV resort in Gold Canyon called Neon Ranch.
- “We want to provide the next generation RV luxury resort,” Mullin said. The 53-acre site will have 505 RV spaces in a 55-plus age-restricted RV community..
Liz & Marie are purchasing properties all across Maricopa County as well as Gila County, Navajo County and Coconino County. If you would like to sell your house fast and are looking for a more personal interaction than an iBuyer like Opendoor, check out our quick free four minute video where we show you how to save $10,000 or more when selling your property!
This week’s LOCAL NEWS
135 bikes get delivered to children in need, for the article click here:
- More than a dozen volunteers are checking tire pressures, rim alignments and bike seats this morning. Making final preps as students at St. Matthews Catholic school in Phoenix are soon to get quite the surprise.
- “Every single one of you will receive a brand-new bike,” said Principal Christine Tax to the applause of children today inside the school chapel.
- On Wednesday, the team at Bob’s Free Bikes delivered 135 of them. Big and small. Red, pink and blue. All to a community of kids who otherwise may never get a bike at all.g
- The excitement when each child saw their names on the seat said it all.
- After getting their new ride, a new helmet from Phoenix Children’s hospital and a quick blessing from the priest, the kiddos made their way out to the test track.
- A gift that wouldn’t be possible without donations from the community and from our viewers during the ABC15 “Second Chance Bike Drive” campaign.
The top spring 2022 events and festivals not to miss in Phoenix, PLAY BALL!
For the link click here
- Feb. 5 – April 3 | Arizona Renaissance Festival
- Feb. 26 – Mar. 29 | Spring Training 2022 – Calendar Link
- March 25-27 | Spring Tempe Festival of the Arts
- April 7-10 | Arizona Country Thunder
- May 20-29 | Spring Arizona Restaurant Week
About Liz & Marie
Liz & Marie are the area’s leading real estate solutions company. We successfully work with homeowners, buyers, sellers, real estate agents, and real estate investors, buying and selling all types of residential real estate. We are confident that we can find the right property or solution for you, whether you have a house to sell, are looking to buy your next investment property, or are looking for your family’s “forever home.” We can share our knowledge so that you can make the best decisions for your situation and we are dedicated to making everyone’s experience a smooth and successful process.
Liz & Marie specialize in buying and selling your home at the price, and on the timeline, that works for all of us. Our extensive knowledge of real estate investing and a large network of real estate investors nationwide allows us to offer more buying choices and a wide variety of selling options for all types of home buyers and sellers, including financially distressed homeowners. Our mission is to work hand in hand with all parties and to handle every situation with the utmost professionalism and care.
We are thrilled to be a part of this next chapter in your life. Our commitment to excellence starts with treating you and your transaction with the utmost care and professionalism. We know that buying and selling a home is one of the biggest decisions you’ll ever make and we are humbled that so many homeowners choose us to join them on their journey. Let us lead the way and earn your business today.
We may be Crazy Liz and Wacky Marie but together we can do anything. Our combined experience in real estate has given us tons of lessons and has provided us the opportunity to help many homeowners! We are always striving to learn more and help others!
Let us know how we can help you today!