2020 has been quite the year for the Arizona Real estate industry. Early in the year, it was unknown how our market would be, in the following months of a government shutdown, but the housing industry, thrived. Factors that boosted our market were historically low interest rates that have held fast. Low inventory, has increased pricing, encouraging home owners to: 1. refinance 2. relocate 3. upsize or downsize.
In our Phoenix area, in the past 3 to 5 years there have between 27,000 to 30,000 homes on the market. Today, we have 6,400 homes available for sale. We are down about 75% in inventory. Every home we put on the market has about 14 to 30 people wanting it, and writing offers on it. Currently in San Tan Valley (zip code 85143) we have 26 active homes for sale. Right now we have a STRONG Sellers market.
San Tan Valley, AZ 85143
Tue Dec 22 2020 This week the median list price for San Tan Valley, AZ 85143 is $369,000 with the market action index hovering around 98. This is an increase over last month's market action index of 95. Inventory has held steady at or around 27.Click here to stay informed with the San Tan Valley market!
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.