IT'S A BUYERS MARKET
figures are from 3/14/08 to 4/13/08
time on the market:
So everyone wants to know when we will hit the low point? Well one big indicator to look at is the number of new listings on the market versus the number of listings sold. This month is the first time in about year that the number of sales statewide has caught up to the number of new listings. In Wickenburg specifically this is the first time in a long time that the number of listings has dropped. Another indicator I am watching is the media. The media has finally backed off on the negative and is now focusing more on the positive attributes of the market we are in. The reason I look at the media is because of it's influence on buyer confidence. So I see that buyer confidence is up, and along with that sales are up. So I would say that we have already hit the low point in many parts of the state, but in Wickenburg Specifically I think we are just about to reach that point if we have not already.
So if you are seller in the Wickenburg market the competition will remain tough, and there will be little chance of selling a home that is over priced. For buyers interested in Wickenburg, 2008 is fantastic year to buy. Both prices and interest rates are low.
* When I mention an average I will exclude 2005 which was a most unusual year in Real Estate.
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