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    Market Snapshot – February 2020

    MLS Luxury Sales Over $1M Up 52% in January
    Supply Between $200K-$250K Down 60%

    For Buyers:
    Supply continues to drop as the market heats up with the seasonal rush of Buyers.  Typically we would see supply rising at this time of year as January is a strong month for new listings to hit the market.  However this year new listings year-to-date are down 17% from last year and January 2020 had the lowest number of new listings recorded going all the way back to 2001.  Combine this with a 21% increase in sales volume and the 4th highest January recorded for MLS sales, and it’s no surprise that supply is plummeting.
    While supply is down in all price points, it’s felt the most between $200K-$250K. Supply in this price range is nearly 60% lower than this time last year and a quarter of sales in the last 3 months have recorded over asking price.

    Seller-paid closing cost concessions are also down.  Nearly 22% of all sales in the 1st Quarter to date have included some form of seller-paid or assisted closing costs.  That’s the lowest percentage recorded in nearly 5 years.

    For Sellers:
    The luxury market continues to go gang busters in 2020.  Sales over $1 Million in 2019 outperformed 2018 by 10%, which makes it the #1 year for in Greater Phoenix in this price range.  January closings were up 52% in this price and listings under contract are up 43%.

    With all this demand, one would think price appreciation would be rising significantly however that hasn’t happened yet. The average sales price per square foot between $1M-$2M has only appreciated 1% while those between $2M-$3M have appreciated 0.2% and those over $3M have increased 6%.  The current appreciation rate per square foot is between 8-9% for Greater Phoenix as a whole.

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    Carin Nguyen

    Carin Nguyen takes the business of real estate very seriously and she has the track record to prove it. She holds the recent prestigious title and ranking of the #1 realtor in AZ for sides as awarded by the Wall Street Journal. Carin is an Arizona native and fully understands the complexities and changing landscape of the Arizona market. She has been in the real estate industry for over 10 year’s full time and comes by her expertise honestly, having honed it during years in the finance and mortgage industries. Education and knowledge is key in getting her buyers and sellers what they what. A rich resume built with a tireless commitment to her clients, undeniable proven past success and an uncompromised vision for the future create the recipe for complete customer satisfaction. Carin understands the potential emotional stress and sometimes life altering experiences felt by clients during the real estate transaction process. Carin is unyielding in insisting on complete professionalism from herself and her team while understanding that real estate is a personal business. She thrives on managing the details and individuality of each transaction and client. Her clients know that having Carin on their side means they have an advocate who cares about them and their needs. Carin is convinced that building relationships will ensure continued satisfaction and be reflected in future success. There is no denying what provides Carin with her constant strength. Her family is “at the heart of my motivation to push myself to achieve my goals and to be forthright in all that I do. My husband, Son, is my biggest source of support, my coach and my best friend. I am truly blessed with a loving husband and four great children who collectively strengthen my resolve to be the best at all my endeavors. I can be a wife and mother and still be a successful Realtor because I tackle everything with all that I have. My motto is ‘Working Hard To Get Homes Sold’ for a reason. I am thrilled that so many families have made me their real estate consultant.” A commitment to professionalism, an empathetic and understanding approach to her clients and an unstoppable and dependable force from her family all ensures success for Carin and most importantly, her clients

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