So tell me the truth – How hot is the Phx market really right now?
There seems to be a bit of confusion surrounding the Phx/Scottsdale market right now. Different homeowners have very different points of view on this topic. The reason for this is simple – Location.
It is nearly impossible to buy a SFR entry level home in the Phx/Scottsdale area right now. Most every property that fits this criteria will see 10-15 offers within a few days of being on the market. Outside of this spectrum, activity has increased dramatically for areas outside of the Phx/Scottsdale area, however, we aren’t seeing the same kind of multiple offer frenzy that we are in Phx/Scottsdale. (There are exceptions of course)
What is really nice is the high end market is starting to pick up as well. We are seeing more and more offers on properties in the 400-800k area and even a few in the 1Million plus range. We recently had a listing in Phx in the 400k range that saw 3 offers and went under contract within a few days of listing.
What advice do we have for sellers? Don’t get overwhelmed and get yourself into trouble with multiple offers. If you aren’t certain how to handle a multiple offer situation correctly…. Call us at 800 657 6579. We can assist you with just about anything involving a multiple offer situation. We can go over the highest and best technique versus issuing multiple counters to find out which is best for your specific situation.