What’s going on in the Phoenix real estate market? Here’s what you need to know.

Let’s talk about the hot, robust real estate market in Phoenix.

Last month alone, almost 17% of all homes that closed did so above list price. When it comes to buyers making offers on houses, you’ve got to make sure that you’re writing your offers very aggressively.

Only 3% of the upper-end homes actually got any type of seller concessions. When you get below $250,000, that’s still a pretty high percentage of sellers that will offer concessions. In that same price point, homes are selling way above list price as well.

We’ve experienced multiple offers on almost every home listed above $250,000. In preparing an offer, you want to come in with a higher earnest money deposit, short inspection time, few contingencies, and don’t ask for concessions.

“In this market, you need to come forward with your highest and best offer.”

When you’re representing the seller in today’s market, make sure that you’re studying the different buyers and talking to their lenders so that you can select the absolute best buyer possible. Again, in a hot market like today’s, when houses are selling above list price, you need to come forward with your highest and best offer.

Houses aren’t staying on the market very long. In fact, we have less than three months of inventory available, which is almost 18% lower than this time last year.

If you have any questions, please feel free to reach out to me. If there is a topic you’d like me to discuss in a future video, send them my way; if I select yours, I’ll send you a $50 gift card to a restaurant of your choice.

I look forward to hearing from you.