Selling a Home in Phoenix, AZ – When Is the Best Time?
Phoenix is a vibrant city that is full of education, employment, and entertainment opportunities. Many people who live and work in the area choose to live within the city. If you are among those that call Phoenix home and own property within the city, you know just how appealing city life can be. Yet sometimes you will find yourself ready to make a move. Whether you’re moving within Phoenix or leaving the city for one of its many suburbs, selling your home in Phoenix is the first step. But when is the best time to sell your Phoenix, AZ home? Here is a closer look at when you should time your Phoenix home sale.
Phoenix Real Estate Market
The best time to sell a home in Phoenix has less to do with the season of the year and more to do with the overall condition of the market. A market that favors sellers means a fast sale and a fair price, while one that favors buyers can mean the home sits without interest for a while. Since the weather in Phoenix is nice year-round, sellers do not have to concern themselves with snow or similar weather problems impacting their home sale.
Like many major cities, Phoenix has an interesting real estate market. In some areas, demand and prices are high, while others have lower demand and lower prices. In general, the market is considered a hot one that benefits sellers.
In early 2019, Phoenix had an average home value of $240,000. This was up 8.7 percent over the previous year. Over the next year, researchers believe the market will gain at a slower rate, with gains of 2.4 percent likely.
Home prices in 2019 are expected to increase. A rate of 5.6 percent is expected, which is good news for sellers. In fact, some researchers expect that Phoenix will be one of the top markets buyers will consider in the coming year. Home prices have risen tremendously since a low point in 2012, when homes were selling for around $90,000. Today, prices are nearing $250,000 in Phoenix.
Phoenix is also experiencing an increase in the number of homes for sale. This is good news for buyers because it means a large selection of properties to consider. It can mean more competition for sellers, adding to the time, expense, and stress of selling a home in the current market. However, steady population growth is increasing housing demand, and this can be beneficial to sellers.
Even when a market is strong, selling a home has potential pitfalls and problems. It also creates expenses and stress for the home seller. Keeping an eye on market trends can help sellers in Phoenix time the sale of their home to reduce some of these problems.
Sell Your Phoenix Home Now
Reducing the stress and frustration of selling a home is not easy, but you can limit it by selling with HomeGo. We provide fair offers fast sales, allowing you to get on with your move without undue stress or frustration. If you are looking to sell a home in Phoenix and want to sell quickly while taking advantage of the current market trends, reach out to the team at HomeGo to learn more about our home selling process.