Well it looks like the number of Short Sale listings in Phoenix is up over last month and over last quarter. Not by much, but still up. While the number of actives went up only 100ish units over last month, the number of Pending listings went up by 500 units, and the number of Sold short sale listings went up 200 units over last month.
One of the most important numbers, I think, is the Average Sale Price as a percentage to list price. It’s at 96.25%. That means if your home is on the market as a short sale for $100,000 it is probably closing around $96,250. Compare that to the REO market: 99.59% of list price. Neither one is a huge discount off of the listing price. What that means for the buyers out there is that you most likely can not be coming in with offers at 50% of the list price. Of course that changes if the property has not been properly priced or marketed. If you are the first offer and it has been on the market for more then a month, you probably have some room.
One last interesting number to look at is the total monthly sales volume: $240M. Two years ago? $9M. My things have changed quickly.
If you are looking to sell your home and you owe more then what it is worth, give me a call: 971-235-9561. You have options. Let’s talk about them.
Keller Williams Arizona Realty