Often times I get phone calls from potential clients expressing their interest in the Southwest real estate market. I tell them that Southwest is a very competitive market with limited options (take a look at units sold). I then show them the current inventory and the disappointment usually sets in. The reality is that if you want to stake your claim in Southwest, be prepared to encounter multiple offers and competitive bidding. Inventory is tight!

July-14 July-13 %Change
Sold Dollar Volume $6,212,650 $7,131,202 -12.88%
Avg Sold Price $365,450 $310,052 17.87%
Median Sold Price $345,000 $253,900 35.88%
Units Sold           17   23 -26.09%
Avg Days on Market           26         44 -40.91%
Avg List Price for Solds $367,935 $310,017 18.68%
Avg SP to OLP Ratio 99.0% 97.8% 1.18%

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.