If you need assistance, please call 602-410-0827

August 28, 2022 Market Update

Sunday, August 28, 2022   /   by Bryan Baylon

August 28, 2022 Market Update

The listing success rate for all areas & types is down to 70.4%, which is the lowest we have seen for late August since the year 2010. Mind you, in 2010 the reading was a dismal 58.1% thanks to all the short sales and pre-foreclosures crowding the market at that time.

Any new sellers need to be realistic. 30% of listings fail to sell these days. At the end of March the percentage was less than 8%. Listing agents now need to focus on marketing instead of worrying about how to handle the deluge of offers in the first few days.

Another sign that the times have changed is that Coming Soon listings are declining in number. It is no longer a matter for great excitement that your home is shortly to be listed for sale.

Welcome to normality!
Screen Shot 2022-08-30 at 9.57.38 AM.png

Market insights provided by The Cromford Report.
Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Bryan Baylon - Keller Williams Northeast Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. June 21, 2024
This site powered by CINC: www.cincpro.com