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Home Prices Are On The Rise
Isn't it amazing that we are almost at the end of 2016 and home sales/prices are still moving in an upward trend?
Zillows latest reports show...
The median home value in Arizona is $214,800. Arizona home values have gone up 7.8% over the past year and Zillow predicts they will rise 3.6% within the next year. The median list price per square foot in Arizona is $137. The median price of homes currently listed in Arizona is $255,000. The median rent price in Arizona is $1,250.
Foreclosures will be a factor impacting home values in the next several years. In Arizona 1.2 homes are foreclosed (per 10,000). This is greater than the national value of 0.7
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Arizona is 0.0%, which is lower than the national value of 0.0%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Arizona homeowners underwater on their mortgage is 0.1%.
Now that the election is behind us, I feel the outlook for 2017 is stronger than ever - make sure to check out my great search tool to find your next home, or click here to find the value of your home.
OR, if you want to see homes in Scottsdale for Under $500,000 - Check out this quick search page I made just for you!
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Maricopa County Real Estate Market Snapshot October 2017 Average Sale $296,703. 65 days on market. What is your home worth in today's market? Call me to find