It’s a great time to sell your house in Scottsdale. Local market watchers have seen the number of sales consistently increase since the beginning of the year, while at the same time, there has been a steady decline in the number of homes for sale throughout the Greater Phoenix area.
According to the Scottsdale Area Association of Realtors, if no more houses went on the market starting today, it would take approximately two months to sell all of the inventory currently available. Typically, anything less than four months is considered a “seller’s market.”
There is additional good news for Scottsdale homeowners: the Cromford Report lists the city as one of the most improved markets for sellers in the Valley.
What does that mean for you?
If you’ve been thinking about selling, your Scottsdale home could be a hot commodity. As demand outpaces supply, many buyers are being forced to purchase properties that have lingered on the market for six months or longer, based on Arizona Regional Multiple Listing Service (ARMLS) statistics, because there aren’t many new listings available.
When an attractive, new property hits the market, it can be under contract in as little as 24 hours. Most of these “flash sales” are for properties priced under $300,000, but even the luxury market, including the Scottsdale real estate market, has seen a number of sales that went pending within 24 hours during the last 90 days.
Less inventory on the market means buyers are willing to pay a little more for the property they want, which is the cherry on top of the current seller’s sundae.
How do you benefit?
Not all homes will sell quickly or for more money, even in a seller’s market. If you want to give your property the best chance at a “flash sale” or at least a profitable one, make sure your home is clean and well-staged inside and out. Give the rooms a fresh coat of neutral paint and steam clean the carpets. You’ll also want to remove clutter, turn on all the lights, and open the blinds to let in as much natural light as possible whenever potential buyers come through for showings.
Working with an experienced real estate agent who can properly price and market your home also makes a big difference.
To receive more market information to your inbox or for any questions about selling your home in today’s market, give us a call and a member of The Matheson Team will be in touch shortly.