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July Market Update

This week the median list price for Goodyear, AZ is $567,000 with the market action index hovering around 46. This is less than last month’s market action index of 47. Inventory has decreased to 210.

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb..

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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