Last week was spent mostly in gridlock. Not the cars lined bumper-to-bumper sort, though that has been known to happen on the Phoenix freeways during rush hour, but rather the “I want to move to Arizona but I’ve got to sell my house here” type.
Which brings me to the conclusion that from purely an activity standpoint, my real estate market most likely is better than yours. Homes are selling here and at a pace that appears to be far more brisk than in Michigan or Spokane or anywhere else in Washington that isn’t Seattle or in Wisconsin or Oregon.
It’s far from universal, mind you, but when I personally sold a non-bank owned, non-short sale for what looks like the top dollar the market will bear and did it in seven days … meanwhile, I spend my weekday mornings and afternoons talking to folks hoping for a showing in the near future …
Pricing’s another story, naturally, and that makes the gridlock elsewhere even more unfortunate. For even as we’ve seen strong demand matched by lower supply, prices have yet to follow the laws of economics and start moving back up. Some area are still declining, others continue to bump along what has become a rather protracted bottom. Yet nearly all are appealing to those on the outside looking in.
I often talk about inventory disappearing in the retirement communities this time of year but those aren’t the only areas with a dearth of homes on the market. Take a look at Peoria’s Fletcher Heights subdivision, where my listing mentioned above just sold. Here are the three least expensive properties on the market there:[idx-listings community=”Fletcher Heights” propertytypes=”317″ orderby=”Price” orderdir=”ASC” count=”3″]
Now, if you’re looking specifically for a home with a pool – not at all uncommon when it’s 91 degrees out as it is right now – there are 11 homes. Want to skip the short sales? You’re down to four homes. That’s it. And that is why my listing is under contract (well, that, and the fact I may know what I’m doing.)
The same story is being told in multiple neighborhoods right now, giving sellers who are willing to price their homes aggressively an opportunity to maximize their proceeds in what otherwise has been a difficult market in which to operate. We had our own gridlock stage two years ago, when less than 2,000 detached homes were selling a month here.
Those days are long gone.
So for those of you trapped elsewhere in the country looking toward the sunshine, take solace. Our market is more active than yours, at least in most cases. But with prices remaining relatively steady, we’ll still be here and the opportunities should still exist whenever your market thaws enough to let you move.