{"id":1460,"date":"2025-07-22T17:33:11","date_gmt":"2025-07-22T17:33:11","guid":{"rendered":"https:\/\/nohasslelistingblog.com\/?p=1460"},"modified":"2025-07-22T17:34:04","modified_gmt":"2025-07-22T17:34:04","slug":"july-market-update","status":"publish","type":"post","link":"https:\/\/nohasslelistingblog.com\/?p=1460","title":{"rendered":"Market Update July 2025"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Two-sided Coin of a Market<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We are a little more than mid-way thru the year and while temperatures are rising in Greater Phoenix, the same cannot be said of home prices. Unlike the weather, the market is not responding universally.&nbsp;&nbsp;Luxury has done well \u2013 rising on average 4.4% this year.&nbsp;&nbsp;For that you can thank the Stock Market. However, for the sub-luxury market the opposite has been true \u2013 prices have generally drifted downward.&nbsp;&nbsp;As the Cromford Report states:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cJune sales prices for properties under $400K were down an average of 4.5% from last year. The $400K-$600K range was down 2.4%. Mid-range prices from $600K-$1.5M were flat within 0.1%-0.8% over last year, and higher-range prices over $1.5M where buyers negotiate harder on price are up 4.4% on average in appreciation\u2026As with all things, there are exceptions to the rule, but the weakest part of the market is the low-end while the strongest remains the highest price sectors.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>For the cities with the highest proportion of luxury homes, pricing has generally out-performed the rest of the valley, Single-family detached homes in Scottsdale have risen 4.3% over the past year. Cities dominated by the mid-range have struggled to stay above water. Chandler for example is down, but only just, at 0.1%. The cities with a predominance of entry-level homes are usually faring less well. Avondale for example is down 5.3% for single-family detached homes compared to a year ago.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;While luxury sales are a seasonal business (as those who can escape the summer heat, do) the average seller competes all year long for buyers.&nbsp;&nbsp;Sellers, unable to reach pricing goals, are pulling their homes off the market and not immediately relisting.&nbsp;&nbsp;&nbsp;&nbsp;In fact, cancelled listings were up 46% in June compared to last year and expired listings up 79%.&nbsp;&nbsp;Additionally, new listings coming to market have slowed.&nbsp;&nbsp;This resulted in an 8% drop in overall supply in the last 5 weeks.&nbsp;&nbsp;Yet even with that, supply is still up 41% &#8211; which is why the market is still favoring buyers over sellers. At some point lowered prices combined with lower supply &#8211; even without lowered interest rates &#8211; will stimulate the market.&nbsp;&nbsp;We will report it as soon as we see it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Russell &amp; Wendy Shaw<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(Mostly Wendy)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two-sided Coin of a Market We are a little more than mid-way thru the year and while temperatures are rising in Greater Phoenix, the same cannot be said of home prices. Unlike the weather, the market is not responding universally.&nbsp;&nbsp;Luxury has done well \u2013 rising on average 4.4% this year.&nbsp;&nbsp;For that you can thank the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1460","post","type-post","status-publish","format-standard","hentry","category-real-estate-market"],"_links":{"self":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1460"}],"version-history":[{"count":2,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1460\/revisions"}],"predecessor-version":[{"id":1462,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1460\/revisions\/1462"}],"wp:attachment":[{"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nohasslelistingblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}