ENCANTERRA REAL ESTATE MARKET: MARCH 2024 UPDATE

As of March 13, 2024, the Encanterra Real Estate market continues to exhibit activity with 44 active listings for the first few weeks of March, accompanied by 8 new listings. This indicates a steady stream of properties available for potential buyers, contributing to a diverse and dynamic market.

 

Pending listings for the same period show 13 properties awaiting closure, with 10 successful closings. The average days on market in Encanterra for March 1-13, 2024, stands at 85 days. Looking at the average list and sale figures, the average list price for March 1-13, 2024 closings, is $812,390, with the average sold price at $788,100. This indicates a 97%  sold-to-list price ratio.

Stay tuned for our upcoming newsletter, where we will delve into year-over-year market trends for a more comprehensive analysis. Whether buying or selling in Encanterra, contact us anytime at @Shea Preferred Realty Group for expert assistance.

The Spring Market is a Sweet Spot Today if You’re Looking to Sell

 

Some Highlights

  • Wondering if now’s a good time to sell your house? Based on how many homes are on the market, there are two big reasons why this spring is looking so good for sellers.
  • Thanks to an uptick in inventory over last year, you’ve got more options for your next home. But there are still fewer homes for sale than there’d normally be, meaning your house should stand out and get a lot of attention from buyers.
  • If you want to sell your house, this spring is the sweet spot. When you’re ready, let’s chat to get the ball rolling.

Real Estate, Pandemic, and Now

Watch our Instagram video here!

 

The pandemic broke out 4 years ago.⠀⠀⠀⠀⠀⠀⠀⠀⠀
This is what’s happened since…
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The collective amount of U.S. homeowners’ equity has grown from $16 trillion in 2018 to 31.6 trillion (as of Q2 2023).
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Annnd… The average U.S. homeowner now has nearly $290,000 in home equity, up from $182,000 pre-pandemic. 
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That’s a $108,000 jump in less than 5 years. Not too shabby for an investment, huh?
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Curious what your home is worth? Send us a message — I think you’ll be pleasantly surprised! 

REAL ESTATE MARKET REPORT – FEBRUARY 2024

See the market report details in February from the year 2023 to 2024 in the slides below. All data is directly from the Arizona MLS. 

 

 

As we navigate through these market dynamics, potential buyers and sellers are encouraged to stay informed. For expert guidance and support in your Encanterra real estate endeavors, contact us at SHEA PREFERRED REALTY GROUP. Stay tuned next month for further insights into the evolving Encanterra Real Estate Market.

Encanterra Home Price Reduced | 174 E Atacama Ln, Queen Creek, AZ

 

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174 E Atacama Lane, Queen Creek, AZ in Encanterra

2 Bed | 2.5 Bath

Approx. 2,557 sqft.

Model: Cartagena
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The kitchen? It’s the heart of this abode, filled with sunlight and top-tier stainless steel goodies. But the real showstopper? A rolling wall of glass that makes indoor and outdoor living a dream. Turn on the misters, and you’ve got your private oasis. 
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And let’s talk space – it’s massive, thanks to nearly 100 feet of maintained open area behind and beside your home. Privacy? Check! Size? Check! 
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The primary bath? It’s a masterpiece of convenience with dual entrances, separate vanities, water closets, and a luxurious central shower. 
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This place oozes pride of ownership and is ready to become your personal haven.
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Ready for extraordinary living? Message us now! 

ENCANTERRA REAL ESTATE MARKET: JANUARY 2024 UPDATE

As of January 15, 2024, the Encanterra Real Estate market continues to exhibit activity with 47 active listings for the first half of January, accompanied by 6 new listings. This indicates a steady stream of properties available for potential buyers, contributing to a diverse and dynamic market.

 

Pending listings for the same period show 3 properties awaiting closure, with 5 successful closings. The number of pending listings has decreased slightly compared to the previous month.

The average days on market in Encanterra for January 1-15, 2024, stands at 53 days, showcasing a moderate timeframe for properties to sell. 

Looking at the average list and sale figures, the average list price for January 1-15, 2024, is $658,320, with the average sold price at $635,980. This indicates a 96.99%  sold-to-list price ratio.

Stay tuned for our upcoming newsletter, where we will delve into year-over-year market trends for a more comprehensive analysis. Whether buying or selling in Encanterra, contact us anytime at @Shea Preferred Realty Group for expert assistance.

Expert Quotes on the 2024 Housing Market Forecast

 

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move. But what’s on the horizon for the new year?

The good news is, many experts are optimistic we’ve turned a corner and are headed in a positive direction.

 

Mortgage Rates Expected To Ease

Recently, mortgage rates have started to come back down. This has offered hope to buyers dealing with affordability challenges. Mark Fleming, Chief Economist at First American, explains how they may continue to drop:

“Mortgage rates have already retreated from recent peaks near 8 percent and may fall further . . .”

Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

“For home buyers who are taking on a mortgage to purchase a home and have been wary of the autumn rise in mortgage rates, the market is turning more favorable, and there should be optimism entering 2024 for a better market.”

The Supply of Homes for Sale May Grow

As rates ease, activity in the housing market should pick up because more buyers and sellers who had been holding off will jump back into action. If more sellers list, the supply of homes for sale will grow – a trend we’ve already started to see this year. Lisa Sturtevant, Chief Economist at Bright MLS, says:

“Supply will loosen up in 2024. Even homeowners who have been characterized as being ‘locked in’ to low rates will increasingly find that changing family and financial circumstances will lead to more moves and more new listings over the course of the year, particularly as rates move closer to 6.5%.”

Home Price Growth Should Moderate

And mortgage rates pulling back isn’t the only positive sign for affordability. Home price growth is expected to moderate too, as inventory improves but is still low overall.As the Home Price Expectation Survey (HPES) from Fannie Mae, a survey of over 100 economists, investment strategists, and housing market analysts,says:

“On average, the panel anticipates home price growth to clock in at 5.9% in 2023, to be followed by slower growth in 2024 and 2025 of 2.4 percent and 2.7 percent, respectively.” 

To wrap it up, experts project 2024 will be a better year for the housing market. So, if you’re thinking about making a move next year, know that early signs show we’re turning a corner. As Mike Simonsen, President and Founder of Altos Research, puts it:

“We’re going into 2024 with slight home-price gains, somewhat easing inventory constraints, slightly increasing transaction volume . . . All in all, things are looking up for the U.S. housing market in 2024.”

Bottom Line

Experts are optimistic about what 2024 holds for the housing market. If you’re looking to buy or sell a home in the new year, the best way to ensure you’re up to date on the latest forecasts is to partner with a trusted Real Estate Team. Connect with us @ Shea Preferred Realty Group . We are the Top 1% Real Estate Agents in East Valley Arizona. Don’t hesitate to message us! 

 

Source: Keeping Current Matters

Real Estate Investment is Not Just for Big Players

In the ever-evolving world of Real Estate, the idea of investing may seem reserved for large corporations and institutional giants. However, the reality is far more relatable, with many ordinary investors, perhaps even your friends or neighbors, actively participating in the market. 

Let’s dive into the data to uncover the truth. According to SFR Investor, out of the eighty-two million single-family homes in the United States, nearly eighty-three percent (68 million) are owner-occupied. This leaves around fourteen million homes categorized as single-family rentals (SFRs). The common assumption that institutional investors own the majority of these homes is debunked when we break down the investor categories:

 

 

  • Mom & Pop Investors (1-9 SFRs): 45.41%
  • Regional Investors (10-99 SFRs): 33.42%
  • Smaller National Investors (100-999 SFRs): 16.46%
  • Institutional Investors (1,000+ SFRs): 4.71%

 

Contrary to popular belief perpetuated by news and social media, the chart illustrates that institutional investors represent the smallest portion. The majority of rental homes are owned by small-scale investors, the mom and pop variety – individuals much like your friends and neighbors. They are driven by the belief in homeownership, purchasing second homes as investments, either for rental income or simply to retain a property when moving up the housing ladder.

In essence, the narrative that institutional investors dominate the market, making it challenging for ordinary individuals to buy homes, does not align with the actual statistics. While institutional investors play a role, they are not the primary driving force. Instead, it’s the collective actions of everyday people, like you, who view homeownership as an investment opportunity.

 

If you have questions or seek a deeper understanding of the housing market dynamics and/or explore the possibilities of Real Estate investment, we would love to help you! Connect with us SHEA PREFERRED REALTY, your trusted Real Estate team!

 

Source: SFR Investor

Grandparents and Moving Closer to Family

Now that the pandemic has passed, many grandparents want more than ever to be near their grandchildren again to make up for that lost time. But how are they getting that “Grandparent Wish?” The data tells us many are moving to make sure they’re getting more quality time.

 

  • Grandparents Moving Closer to Grandkids

During the pandemic, many grandparents had to stay apart from their beloved grandchildren for safety reasons. But now, things are changing, and grandparents are making a move to get back that precious lost time.

  • Grandparents Making Big Moves

Recent data from the National Association of Realtors (NAR) reveals that people aged 55 to 74 are making significant moves, often more than 100 miles away.

  • Bringing Generations Closer

According to the same NAR report, the top reason for moving is to be near loved ones. Grandparents, in particular, are making these moves to spend more quality time with their grandchildren.

 

If you’re planning to move, we will be glad to help you! Reach us anytime @ Shea Preferred Realty Group

 

Ben Leeson and TJ Kelley

Arizona Experience Realty Group Resale Broker for the SHEA Preferred Program

480-677-8170

Info@ENCBrokers.com

 

36460 N Encanterra Drive Queen Creek, AZ 85140