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Phoenix Real Estate Market Update for August 2014
Welcome back, everybody. Thanks for joining us once again. Today we are going to talk about market statistics for the month of July 2014 as of August 14, 2014. The Phoenix market continues to be very dependable, showing subtle yet consistent signs of improvement. In the month of July, we had:
- A 1% rise in the average median price, up to $197,000
- An increase in the average sales price, which is now up to $249,200
- 2 consecutive months in a row where we have seen the lowest number of new listings on the market in 14 years
- Interest rates remain very low, down near 4%
For a market that was not too long ago dominated by short sales, investor sales, and bank-owned properties, we are seeing a transition to a much more healthier and traditional market. If you have any questions about this changing market and what it means for you, please give us a call or send us an email. We would love to help you out.
Read the August 2014 issue of STAT
Read the August 2014 issue of STAT
