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August Goodyear Market Update

This week the median list price for Goodyear, AZ is $549,990 with the market action index hovering around 45. This is less than last month’s market action index of 46. Inventory has decreased to 203.

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

We’re still in a seller’s market which means if you’re looking to sell the market is currently in your favor. However, if you’re looking to buy, homes are staying on the market longer, giving you time to make a decision. Remember, even if the interest rates aren’t what you would like now, you can always refinance in the future when the rates lower again, but there’s no guarentee that the price of homes won’t rise further. If you want to know more about your buying options contact the Garcia Group today! They’re here to help you, buy, sell and invest in all your real estate needs!

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