Juan Rivas - Realtor

Contrary to sensational headlines, the real estate market is not collapsing. The truth is much more nuanced. I'm commenting on this because understanding this, has helped me advise my clients in recent months and I get tired of the headlines that misinform.

Are prices adjusting from their historic peaks? Yes. Is it a crash? Not really. But it's also not all just perfectly fine.

While stats like the ones I will show below might look scary at first, seeing them with objectivity changes the game. This data isn't a warning sign; it's information that we can use for your real estate strategy, if you have me as your advisor.

👇

🔍 The May Breakdown
This past May, 75% of closed homes involved a median price reduction of $25,000 from their original list price. For context, the typical May price reduction over the past 11 years has been around $16,000 (So yes, it's a big reduction, but not a crash). The thing to notice is that it is across the board. 75% of closed homes is a big number.

Here is how those price adjustments look across different property types:

🏡 Detached Single-Family: 73% closed after a median reduction of $25,000

🌇 Townhouse / Condo: 84% closed after a median reduction of $24,900

🏢 Apartment: 85% closed after a median reduction of $22,750

🚛 Manufactured / Mobile Home: 79% closed after a median reduction of $17,700

💡 What This Means For You:
For Sellers: Right-pricing your home from Day 1 is more critical than ever. The market is normalizing, meaning strategy and accurate positioning beat "testing the market" or "let's just try it" every time. A move-in-ready home will do much better than one with issues, cosmetic or functional. Buyers are looking for Value and they have options. Radical acceptance of this reality from the beginning will help you sell your home, even if it is not what you could have gotten for it at the peak.

For Buyers: There is real opportunity out there. Sellers are willing to negotiate, and the data proves you have room to find a deal that aligns with your financial goals.

Data without context creates panic. Data with context creates opportunity to accomplish your goal.

I know this might sound weird coming from a real estate agent, but I see this dynamic as good for the market. It is bringing much needed balance to a market that went off the rails during covid. Prices did go up way too fast and it was unsustainable. Affordability is still the thing to aim for and we all benefit from it.

If you are thinking about Selling or Buying, please contact me. I will promise to give my best advice and help you make the best decisions with the information we have at that time.

Juan Rivas
602-410-3871
Century 21 Northwest

Take a look at this listing!
(Shared with permission from the listing agent)

6025 S 15TH DR, Phoenix, AZ 85041 Home, sweet home! This lovely two-story home with pool welcomes you with a manicured landscape, a 2-car garage, and a cozy front porch. The inviting interior boasts wood-look flooring, tile in all the right places, tons of natural light, and a soothing palette that makes every space feel warm and we...

Happy client... happy me.

See more: https://www.realsatisfied.com/Juan-Rivas

Your dream home is out there. If you're ready to make your next move, let's chat!

Just Sold!
Thinking of selling your property? Proven strategies. Exceptional results. Get the most with Juan Rivas.

Woo-Hoo! Got this one Under Contract! That kitchen is just too beautiful to pass🤩!!

Featured Listing https://www.flexmls.com/share/DMlH8/9144-N-68TH-DR-Peoria-AZ-85345
2 Bed 2 Bath Townhouse
$285,000
Message me for more info or call me at 602-410-3871