Open House Realty is a full-service Real Estate Brokerage serving Arizona.
Contact us to assist you in the purchase, sale, and management of your real estate.
We have agents all over Arizona to best suit your needs!
Contact us to assist you in the purchase, sale, and management of your real estate.
We have agents all over Arizona to best suit your needs!
Open House Realty
20325 N 51st Avenue
Bldg 5 Suite 134
Glendale, AZ 85308
Ivy Clay
Broker Owner
ADRE License # BR639560000
Office (623) 299-4954
Email: OHRealty@yahoo.com
20325 N 51st Avenue
Bldg 5 Suite 134
Glendale, AZ 85308
Ivy Clay
Broker Owner
ADRE License # BR639560000
Office (623) 299-4954
Email: OHRealty@yahoo.com
Contact Open House Realty
Habla Español
Open House Realty offers resources for everything real estate! We have bilingual trainers, 24/7 support, use excellent online platforms with streamlined systems, transaction coordinators available, and the best commission splits in town:
$245/transaction at $25/mo. or 90%/10%.
Rental & Referral commissions are yours.
Zero onboarding fees.
Whether you're a seasoned agent or new licensee, find out if Open House Realty is the best brokerage for you. We look forward to helping you achieve your goals!
$245/transaction at $25/mo. or 90%/10%.
Rental & Referral commissions are yours.
Zero onboarding fees.
Whether you're a seasoned agent or new licensee, find out if Open House Realty is the best brokerage for you. We look forward to helping you achieve your goals!
MARKET REPORT
Maricopa County Multifamily Real Estate Market Overview for October 2024
Data from October 2024 indicates that Maricopa County is experiencing an increase in housing inventory, with 19,366 homes on the market, up by 8% from the previous month. This could mean a buyer's market where homes might not fetch the highest possible prices but could suggest a good time to sell if you're looking to move quickly.
Pricing: The median list price in October was $478,667 with homes spending an average of 66 days on the market. Properties often sell below asking price, which might affect your expected return.
Market Trends: There's been a slight uptick in median home prices by 4.9% year-over-year, but homes are selling slower, indicating a stabilizing market rather than a rapid appreciation environment.
While sales above asking price are not uncommon, with over 660 listings sold this way, the market still leans towards sellers with 57.2% of homes selling below asking price, indicating a balanced negotiation environment.
For buyers, builders are actively offering incentives to attract buyers in 2024. These incentives often include mortgage rate buy-downs, where builders might pay points to lower the interest rate for the buyer, covering closing costs, or providing free upgrades like premium countertops or appliances.
Additionally, first-time homebuyers can benefit from programs like the Home in Five Advantage, which offers down payment and closing cost assistance up to 7% for eligible individuals, with additional support for teachers, first responders, and military personnel.
Investment Opportunities:
The multifamily sector presents compelling investment opportunities, particularly in garden-style communities and Class A distribution facilities located strategically near key transportation corridors. 4
The multifamily sector presents compelling investment opportunities, particularly in garden-style communities and Class A distribution facilities located strategically near key transportation corridors. 4
Market Dynamics:
The multifamily market in Maricopa County is characterized by a mix of core, value-add, and opportunistic investments, with a vacancy rate stabilization at around 4.8% for the multifamily sector, suggesting a steady demand for rental properties.
The multifamily market in Maricopa County is characterized by a mix of core, value-add, and opportunistic investments, with a vacancy rate stabilization at around 4.8% for the multifamily sector, suggesting a steady demand for rental properties.
The appeal of Maricopa County for both residential buyers and commercial investors continues to be driven by its economic growth, favorable climate, and the ongoing urbanization that supports a lifestyle conducive to both living and business. The market's resilience is further bolstered by Phoenix's reputation as a hub for job and population growth, which naturally sustains demand for housing and commercial spaces.
In summary, Maricopa County's real estate market in October 2024 remains a dynamic field for both residential buyers and commercial investors, with ample opportunities for investment, development, and growth in the multifamily sector.
Contact Open House Realty for your free consultation. Let us know how we can help.
Contact Open House Realty for your free consultation. Let us know how we can help.
