Phoenix Short Sale Listings Are Up
Over the last month, short sale listings increased by 3.7% while there was a 14.1% increase from the same time last year.
The good news is that the number of sales are up 30.2% from a year ago. So the net effect is better, but that may only be because there are more opportunities for short sales then this same time in 2008. Evidence of this shows up in the listing success rate which is almost up to 52% vs 43% from a year ago.
Pricing Your Short Sale to Sell
Take a look at what the average sales price per square foot is for short sale listings: $88.65
Now Look at what the average listing price per square foot is: $93.27
And what about the listings that are pending? $88.26
What does this tell you? List your home to sell at around $88 per square foot! This is what is being accepted. If you are trying to sell your home in a short sale, the price shouldn’t matter to you anyway. Price it to sell.
*Note: These numbers are taken from ARMLS data. Use them at your own risk. Also, if you’re listed with someone else make sure to ask their advice. This is not a solicitation of that listing. If you are not currently listed to sell, by all means give me a call. I would love to help you discover the pros and cons of short sales (480) 389-5199
I am hoping to make this a weekly update (in the future, to include video) but not just focusing on short sales. Let me know below if there are specific stats or numbers you would like to see.
Also, be aware that these numbers are for the ENTIRE ARMLS coverage area. The numbers may be different in your area.
Keller Williams Arizona Realty