In terms of both total number sold and relative percent of all resales, demand for homes in age restricted (typically 55+) communities has nearly doubled since 2000.
Ready or not, here comes the busy season for Metro Phoenix real estate. We enter March with 6% fewer listings than a year ago and most homes still going off the market in less than two months.
Another noteworthy real estate trend is the growing appeal of community amenities. In Metro Phoenix over the last decade, demand for homes with access to community playgrounds and pools, for example, measured by the percentage of all closings, has approximately quadrupled and doubled, respectively.
Savvy buyers and sellers are also exploring their representation options. They want to know whether they’ll save more money by working with agents, going the solo/FSBO route, or using iBuyers like OpenDoor or Offerpad.
February will be an even more popular month for sellers to list, and more homes have historically been listed in March than any other month.