Here is the market report for January 2017 covering most the Phoenix west valley cities. I wanted to point out something we have not discussed in previous Market Reports, however worth noting especially for a January Market report. Since the average real estate transaction is 30-45 days escrows, technically the numbers report in the given month, actually reflect business done the previous 4-6 weeks. Many of you have already figured that out, but just wanted to through that out there since January numbers are really the business done over the Holidays. Traditionally a slower time of year, but Phoenix area always seems to hold on with decent business. All West Valley cities did have declines in the numbers of transactions thorough out the holidays. Also all cities had a decrease in inventory levels. Which means those folks listing during Holiday season had a really good chance of selling their home!! As many sellers wait till Spring, meaning February-May to list their homes, we will most likely see those inventory numbers come back up.
There are still great opportunities for investors and the rental market is still very hot. Whether you are looking to add to your investment portfolio or help with managing your current properties, we can help. Contact us for tips, trick and the best areas to buy investments.