The real estate market can be a little challenging to understand, to say the very least. However, compared to the stock market, real estate is much more investor friendly since the trends tend to last for longer periods of time. If you are able to invest in a good market early, the opportunities for buying or selling can be great. The Phoenix housing market has been very optimistic and is predicted to continue to boom for the next few years. In less than a decade, the Phoenix real estate market has gone from one of the worst cities for homeowners to #2 according to the rankings put out by bankrate.com. Bankrate, a consumer finance firm, listed Phoenix right behind Portland, OR based on a variety of indicators such as appreciation, property taxes, foreclosure rates and home prices to compare housing markets across the country.
In the past few years, Phoenix has experienced an outstanding turnaround in the housing market and has made it a great place for homeowners either looking to buy or sell. The market in the Phoenix area is an enticing place for the seasoned and first-time homebuyers as well as investors. This positive trend is expected to continue for a while. With jobs being added at nearly twice the national average in Phoenix, the employment numbers are on the rise and bringing more people to the Valley. Also, more and more Baby Boomers continue to move to the warm climate of Phoenix to enjoy their retirement years, which adds to the number of homeowners looking to buy.
For those already owning a home in the Valley, the median home price for 2016 is right at $223,100, which is well above the national average. Since 2011, the housing prices have nearly doubled since the market hit rock bottom. Despite being one of the largest cities in the country, the Phoenix metro area was rated in the top ten for most affordable big cities to live in. Phoenix’s improved economy and employment rates have played a huge role in building the housing market back up. Other factors that make the housing market in Phoenix very appealing is that property taxes are some of the lowest in the country and the foreclosure rates have dropped significantly over the past few years.
Whether you are a seasoned homeowner or a first-timer looking to find the home of your dreams, Jeff Barchi is the best realtor in the Phoenix area. With over 17 years of exceptional success and service, Jeff has established himself as one of the very best in the entire country. Here is a look at the markets in the three areas of metro Phoenix that Jeff primarily deals with.
Phoenix is looking to be a promising market for both buyers and sellers for the next few months heading into the New Year. The average home value in Phoenix is $197,500. There are plenty of quiet neighborhoods with great schools for those looking to buy a family home and settle down.
The median home value in Scottsdale is $416,600 and according to Zillow.com the market is more favorable towards buyers rather than sellers right now. However, over the next year, prices are expected to rise a few percentage points, which is always a good thing for those looking to sell.
For those that are looking to buy in the exclusive area of Paradise Valley, the good news is that the market is very favorable for buyers right now. The average home value right now is $1,639,200 and the average listing price is $2,000,000.
Let Jeff Barchi and his team go to work for you in finding your dream home today in the Valley. With housing prices expected to continue to rise, now is a good time to start looking for your new home if you have been considering it. Whether you are looking for Scottsdale, Paradise Valley or Phoenix houses for sale, Jeff Barchi will provide exceptional service and results. Visit https://homesellerarizona.com/#team to start your search today!