The Encanterra community has seen some interesting changes in the real estate market over the past year. According to the latest data from the Arizona MLS, the number of active listings has increased substantially to 53, up from just 14 in March 2022. This may suggest a shift in the market, as more homeowners may be looking to sell their properties.
Despite the increase in active listings, the number of new listings in March 2023 remained steady at 14. Additionally, there were 5 pending listings, indicating a reasonable level of activity in the market. However, the number of sold listings has decreased to 9, down from 19 in March 2022. This may suggest that properties are taking longer to sell, or that buyers are becoming more selective.
The sale-to-list price ratio has also decreased, standing at 96.5% in March 2023, down from 101.4% for the same month in 2022. This suggests that buyers may have slightly more bargaining power than in the previous year, as sellers may be more willing to negotiate on their asking price.
If you are a homeowner in Encanterra and are interested in selling your property, it is important to work with an experienced Encanterra Specialist who can help you navigate the market and set an appropriate asking price. The increase in active listings may result in more competition, so it is important to price your property competitively.
If you are a prospective buyer, the increase in active listings may mean that you have more properties to choose from. However, the decrease in the sale-to-list price ratio suggests that buyers should still be prepared to make reasonable offers and be patient in the negotiation process.
Whether you are a buyer or seller, it is important to stay up-to-date on the latest trends and data in the real estate market. If you have any questions or concerns about the market in Encanterra or the broader Arizona real estate market, don’t hesitate to reach out for guidance.
See below for the detailed market update.