Chris Dunham~The Real Estate Guy!

Arizona Home values remain strong - Values not affected by Covid19

Arizona Home values remain strong - Values not affected by Covid19

As soon as we were knee deep in the Pandemic, I started seeing signs along the roadway, "How has COVID19 Affected real estate values" giving off the impression (at least in my eyes) our market was crashing or on the verge of crashing. 

Nothing could be further from the truth!

In fact, since Mid March 2020, when the pandemic started in full force and the stay home order was underway, we (Maricopa County) closed over 6,200 single family homes, all with a minimum of 3 bedrooms, 2 bathrooms and a two car garage. Understand, Maricopa County has a total area of 9,224 square miles, with a population (as of 2019) just under 4.5 Million. 

Now you may be saying, well, lets compare this year to last year (same time frame, from April 15th to June 3rd- NOTE, I chose April 15th as the first date to look at closings, due to time from open to closing escrow).

So, in 2019, all data the same as listed above, we saw a total of 9,292 closings, which is DOWN from last year, which again, shows we are in a sellers market and inventory remains low. 

If our Market was to "Crash" like it did back in 2007 to 2008, the number of listings (houses for sale) would dramatically increase, not drop by 1/3. 

Couple thoughts on the drop in closing, obviously some homeowners felt it wasn't the time to sell. Feb to June is typically our hottest span of sales in the valley (in my 21 years experience anyway). In July we all but shut down, due to the heat, and no one wants to move in August. We kick back in September and ride the last quarter quite nicely, with a bit of slow down from Halloween to New Years (due to holiday season).

Currently, June 3, 2020, we have 5,435 properties listed for sale in Marcopa County. Again, criteria is minimum 3 bedroom, 2 bath home with a 2 car garage. If we break those down into a few cities, this is what our inventory looks like:

Phoenix: 990 properties for sale. Glendale: 175. Mesa: 355. Tempe: 67. Peoria: 314. Scottsdale: 1,088. Chandler 255. Gilbert: 288. Queen Creek (Maricopa County side): 184. Goodyear: 215. Buckeye: 179

To summarize, our market is strong, values are not decreasing, we are not going to "Crash" as some of the media and "fire salesmen" are trying to make us believe. 

If you are wanting to find accurate value of your home, not the smoke and mirrors value as some of the "iBuyers" want to spin your way, reach out, I have 21 years of experience, helping buyers buy and sellers sell. In the past 12 months, I have closed 40 transactions, 13 of those were working directly with selling the home, the other 27 were directly working with home buyers. 

Experience and knowledge is what counts when you are ready to sell your home. I will protect your investment, get you the most money possible and even help you purchase your next home (I call those domino deals, do them around 6-7 times per year). Feel free to Google me, Chris Dunham-The Real Estate Guy™, you're going to see everything I do to market homes and get my sellers top dollar! Remember, when you're ready to SELL or Buy, call the Real Estate Guy™.

 

 

 

  

 

Chris Dunham
The Real Estate Guy™
602-321-6188
Chris@RLS8GUY.com

 

"Equal Housing Opportunity"


Brokered by eXp Realty Arizona

Comment balloon 0 commentsChris Dunham • June 03 2020 05:44PM
Arizona Home values remain strong - Values not affected by Covid19
share
Arizona Home values remain strong - Values not affected by Covid19 As soon as we were knee deep in the Pandemic, I started seeing signs along the roadway, "How has COVID19 Affected real estate values" giving off the impression (at least in… more
Graduation 2020, Fireworks, Good News and Live on Location - GNA #9
share
Good News Arizona Episode 9 - All about the Graduates and. More! Tis' the Season to Graduate High School and College. Yet, like so many states, those normal festivities were either canceled and replaced with online "virtual events" or… more
The Credit series with Chris and Traci in the Morning.
share
Repairing and building your credit for Home Purchase simplified. Hopefully By now you got this! You've watched the first three episodes, here you are at #4 and about the get the rest of the knowledge you need. Once this one is over, call us, let us… more
Fix your credit so you can buy a house - Credit Repair Time
share
Fix your credit so you can buy a house - Credit Repair Time Understanding how credit works is frustrating! I know first hand how hard it is to build back up a score once its plummeted to the ground! I have been selling houses for over 20 years, as a… more
The Best FRIES in Arizona, its a TOP 10 List on Good News Arizona
share
The Best FRIES in Arizona, its a TOP 10 List on Good News Arizona Good News Arizona is all about the Valley of the Sun and all the good news we can find, share and generate stories for. On this weeks episode, we talk about the top ten places for… more
Sitcom Battle, Asylum Records and Ted on Good News Arizona 7
share
Sitcom Battle, Asylum Records and Ted on Good News Arizona 7 We are hitting the ground running and dropping these epic shows once a week. The momentum is fantastic and the love and support we've received from the community is outstanding, We knew… more
Chris & Traci in the Morning - Using Non traditional credit
share
Chris & Traci in the Morning - The Credit Series Understanding your credit can be the difference between becoming a home owner now, or three years from now! In this episode of our 4 part series, Traci Gratzek (ROCK Star LO at NOVA Home Loans)… more
Good News Arizona, Episode 6 is upon us!
share
Good News Arizona drops the GOOD News Arizona is looking for Its that time of week again, Good News Arizona is here and we're sharing the good news! This week we're talking ways to keep cool in the Valley of the Sun, seeing as how we hit our first… more
Good News Arizona Episode 5 - The Cinco de Mayo Spot.
share
Its Cinco de Mayo with Good News Arizona - Episode Number 5 Here we go again. If you've happened to watch our first 4 episodes, you know what fun we have doing this, the GOOD news we share week after week. We will continue our Rapid Fire news… more
Chris & Traci in the Morning - The Blooper Reel
share
Chris & Traci in the Morning - The Blooper Reel We cannot always be perfect, in fact, we rarely are (actually, never, we're never perfect) but we try! When we shoot our episode of Chris and Traci in the Morning we do so and have a blast at… more