Where are buyers coming from? Buyers in our market are primarily coming from California, Washington, Colorado, and Illinois.
There are a lot more cash buyers in this market. However, only 30% of our buyers are actually providing cash to purchase, so don’t be intimidated if you’re getting a conventional loan.
Last year, our average price in Maricopa County was $350,000. Today it’s $504,000. That’s a 43% increase. The market will likely trend upward for the next six months. We may see a cooldown after that.
If you want to know what your home is worth or just have any real estate-related questions, I always welcome your call.