I don’t know about you, but I’m so ready for the slight dip in temperatures that we call “Fall”. While our seasonal changes in Arizona may not reflect the types of changes experienced in the rest of the country, another turn of the calendar brings us that much closer to the holidays!
Speaking of the holidays, have you started your holiday gift shopping yet? I’d recommend starting early this year, due to continued supply chain issues! While you are at it, be on the lookout for opportunities to support local charities and help those in need. Fountain Hills cares!
Another reason we love the cooler seasons in Fountain Hills is that it means our outdoor events and festivals are back! Don’t forget to check out Oktoberfest and Ballet Under the Stars this month.
We are beginning to see a more normalized real estate market, with a better balance of buyers and sellers. The flow of New Listings has steadied somewhat, while Active Listings have more than doubled from last year. Not all buyers have retreated to the sidelines, as evidenced by the continued rise in Average Sale Prices. Days on the Market has risen just a bit to 47 days, but this is really in a normal range, as is the 3 months of inventory.
Where we are really starting to see major impacts is in new construction. Builders are slowing down or holding off on new projects, as the interest rate situation has dampened new development plans. New construction can also be a bit of a bellwether, as builders are keyed into the broader economic outlook. Adding a glut of new homes as the market slows would drive prices down.
While the real estate picture appears much changed from where we were last year, there are positive indicators for future home values.
Want a peek at our September Newsletter? Click here to access an online version!
If you are a buyer, now is a great time to take the plunge! We’d love to use our expertise to help you make your move before the holidays!