Not surprisingly, inventory has fallen off slightly over the past two weeks – only a raving lunatic would put their home on the market in the week before Christmas – so we’re down to 10,979 single family detached homes in Maricopa County as of the moment.
Barring another drop in the prices, the sub-$50k housing market is long ago and far away, which is about where it belongs. It’s hard for anyone to argue that it made sense for homes in certain parts of the West Valley to sell for the same price now (or a year or so ago, more accurately) as they did when they were brand new in the early 1970s.
(Of course, there is the fire-damaged home pictured above available for $36,500 cash for someone wanting to start from scratch.)
Speaking of various ages, if you’re looking for something built since 2000, it’s best to plan to spend $100,000 or more. There certainly are exceptions – I’ll have one at the end of this post – but just as a rule of thumb, $100k is the new $75k.
As the new year approaches, some generalities remain in place … the West Valley remains less expensive than the East Valley, areas closer to the I-10 corridor tend to be a little less expensive (with the exception of El Mirage, which tends to be less expensive than the less expensive.)
While there are many rental properties in the Valley, the rental market remains fairly strong – we’re still finding homes for displaced short sellers and the like.
Hmmm … yeah, I’m pretty well rambling. It’s two days before Christmas and, frankly, how many of you are thinking about housing?
Merry Christmas to all and yada yada yada …