The Phoenix real estate market has shown significant price fluctuations in recent months, reflecting ongoing volatility. For the period ending October 15, 2024, the average sales price per square foot across all property types was $285.09. This marks a 3.0% decline from the $293.80 recorded on September 15. This larger-than-expected decrease came as a surprise, especially since prices typically rise between September and October. The drop is partly attributed to a lower number of closings, which has created greater volatility in the data​

Despite the price drop in October, the average price per square foot of pending listings has risen by 0.6%, suggesting some stabilization or even a small increase in prices by November. This forecast, with a mid-point of $286.78 per square foot, is made with caution due to recent unpredictable swings in market behavior. The Cromford Market Index has also dipped below 95, reflecting reduced buyer enthusiasm and lower seller confidence, resulting in frequent price cuts and quicker sales for properties listed at below-market prices​

How a Flat Fee Realtor in Arizona Can Help Sellers

In a market marked by volatility and frequent price cuts, sellers are looking for ways to maximize their return while minimizing costs. This is where an Arizona flat fee realtor can be an invaluable resource. Rather than paying the traditional 5-6% commission, sellers can opt for a flat fee realtor who charges a fixed rate, regardless of the home’s selling price.

Here’s how using a flat fee realtor can benefit sellers in Phoenix’s current market:

1. Significant Savings: In a market with fluctuating prices, saving on realtor fees becomes even more important. By paying a set fee, sellers can retain more of their equity, even if they need to adjust their listing price to remain competitive.

2. Flexibility in Pricing: With price cuts becoming more frequent in Phoenix, having control over the cost of selling can be a game-changer. Sellers who need to lower their home price can still save significantly on realtor commissions, allowing them to remain flexible while staying within their financial goals.

3. Market Expertise: Flat fee realtors still offer valuable local market insights and can help sellers price their homes appropriately. In a market where buyer enthusiasm is lacking, working with a knowledgeable realtor is crucial to make informed decisions on pricing and negotiation strategies.

4. Efficiency in a Volatile Market: The quick sales of homes priced below market value mean sellers must act fast. A flat fee realtor can provide the essential services needed to list the home and navigate offers without the high costs of full-service agencies.

Contact Flat AZ today to see how much you can save when you sell with us!