AriZona Real Estate insider!

Greetings, Buyers, Sellers, and market enthusiasts! We extend our warmest greetings to you today as we embark on an exploration of the dynamic Fountain Hills real estate market. Nestled in the scenic landscape of Arizona, Fountain Hills offers a wealth of valuable insights for those seeking to make well-informed real estate decisions. Whether you’ve taken the scenic B-Line highway or ventured eastward along Shea Blvd, you’ve now arrived at our destination. In our quest for a comprehensive understanding of this market, we shall delve into key metrics provided by the ARMLS (Arizona Regional Multiple Listing Service) as of September 1, 2023. These insights will illuminate the current market conditions for both single-family homes and condominiums in the vibrant community of Fountain Hills, Arizona. Stay tuned for an insightful journey through this thriving real estate landscape.

Fountain Hills Single-Family Homes Market Metrics

Let’s commence our analysis by focusing on single-family homes in the Fountain Hills real estate market:

1. Months Supply of Inventory: As of the latest data, the Months Supply of Inventory stands at an impressive 2.62. This figure signifies the number of months it would take to exhaust all existing listings at the current sales pace. In a nutshell, it’s a clear indicator of a seller’s market, where demand outpaces supply, potentially leading to appreciating property values.

2. 12-Month Change in Months of Inventory: A noteworthy 5.22% increase in the 12-Month Change in Months of Inventory suggests that the market has seen inventory levels expand over the past year. While this increase offers more options for buyers, it’s essential to remember that the Fountain Hills market remains relatively competitive.

3. Median Days on Market: Homes in Fountain Hills are moving quickly, with an average of just 23 days on the market. This expedited pace is a testament to the high demand and, in many cases, the emergence of multiple offers.

4. List to Sold Price Percentage: The List to Sold Price Percentage, currently at a remarkable 99.7%, reflects the strength of negotiations in this market. Sellers are achieving deals close to their asking prices, emphasizing the competitiveness of the Fountain Hills real estate scene.

5. Median Sold Price: The Median Sold Price, set at $739,000, provides a clear insight into the market’s overall price levels. This figure is influenced by various factors, including location, property size, and amenities.

Fountain Hills Condominium Market Metrics:

Now, let’s turn our attention to the condominium segment of the Fountain Hills real estate market:

1. Months Supply of Inventory: In the condominium sector, the Months Supply of Inventory is an astounding 1.3, reaffirming the seller’s market status. With such limited inventory, buyers face heightened competition, potentially leading to quick sales and favorable prices for sellers.

2. 12-Month Change in Months of Inventory: Condominium inventory has seen a substantial decrease of 37.2% over the past year. This decline indicates a tightening market, where supply may struggle to meet robust buyer demand.

3. Median Days on Market: Condos in Fountain Hills typically spend 45 days on the market, reflecting a brisk sales environment.

4. List to Sold Price Percentage: An impressive 98.6% List to Sold Price Percentage underlines that condominium sellers are often receiving offers very close to their asking prices, a hallmark of a strong seller’s market.

5. Median Sold Price: The Median Sold Price for condominiums stands at a solid $369,000, showcasing the market’s strength and potential for sellers to secure attractive returns.

My Take:

The Fountain Hills real estate market is currently a seller’s market. With a low Months Supply of Inventory, rapidly decreasing inventory levels in condominiums, swift sales cycles, strong negotiation power, and healthy median sold prices, the seller’s market remains firmly in place. However, the current real estate market is showing some cracks, primarily due to rising and very high interest rates. Consequently, a few prospective buyers of mine have decided to delay their purchase plans by six months. It’s essential to closely monitor market dynamics and adapt your strategies accordingly to navigate these challenges successfully.

Buyers should be prepared for robust competition and potentially higher prices, while sellers can capitalize on the favorable conditions to achieve top-dollar for their home. As always, it’s crucial for both buyers and sellers to stay informed, collaborate with a seasoned real estate professional (s) such as myself, and tailor their strategies to the unique aspects of their property.

In this dynamic market, knowledge is your greatest ally. By understanding these market metrics, you can confidently navigate the Fountain Hills real estate market, ensuring you make the best choices for your real estate goals. Thank you for joining us in this insightful journey through the Fountain Hills real estate market.

As a realtor, my mission is to assist buyers and sellers in making informed decisions within the crazy Fountain Hills real estate market. If you find yourself captivated by the opportunities this desert paradise offers, or if you simply seek the latest updates on the market, please don’t hesitate to reach out to me. Whether you’re looking to buy your dream home, sell your property, or gain valuable insights into the Fountain Hills real estate landscape, I am here to provide expert guidance and personalized assistance. Feel free to contact me at any time, and let’s embark on this exciting journey together. Your real estate goals are my top priority!