An aggressively priced home will seller faster than an overpriced home. In this market if you want to sell quickly, you must be below what other homes are selling for in your area. If you choose to overprice your home, there is a very good chance you will be holding on to that property for a long long time.

I just ran a Comparative Market Analysis and here are the numbers for a 3 bedroom single family detached, in Sun City West.

There are 99 Listings that are ACTIVE. And the average home size per square foot is 2,356. Average list price is $360,897. Active Days ON Market (ADOM) is 162. Current Days On Market (CDOM) is 191. (Average List Price / Average Sq Ft) : (360897 / 2356) = $ 153.18 per square foot.

There are 9 homes Pending a sale. Average Pending homes size 2,385. The average Pending home price is $328,694. Active Days On Market (ADOM) is 77. Current Days On Market (CDOM) is 123. ( Average List Price / Average Sq Ft ) : ( 328694 / 2385 ) = $ 137.82 per square foot

There have been 56 Listings that have SOLD May 2007. Average size of home sold is 2,405 square feet. Average listing price of homes sold is $343,169. Actual price on average of homes sold is $330,328. Active Days On Market (ADOM) is 149. Current Days On Market (CDOM) is 173. ( Average Sale Price / Average Sq Ft ) : ( 330328 / 2405 ) = $ 137.35 per square foot.

My advice would be that if you home matches this search criteria that you Price your home by the average SOLD per square foot price.

If this does not feel free to give me a call and I would be happy to run Comparative Market Analysis especially for you home.

Ulises Romo
PRO-formance Realty Concepts
Cell: 602-380-4890
Email: ulisesromo29@yahoo.com
My Website: http://ulisesromo.point2agents.com/
My Blog: http://activerain.com/ulisesromo

I agree with all the answers. If the house is in immaculate condition, has been kept up as far as maintenance, then it should sell within 3 months or less. This is, of course, if it has been priced at or below the market. Constantly checking what is happening in the market is a must for the real estate agent because this is a highly fluctuating market.

If a property is priced correctly and marketed property you might see it on the market from 4 - 6 months.

Ilona's right in that there are properties selling but she's not necessarily taking into account the current inventory. I track the absorption rate - the amount of time needed to sell the current inventory if no new homes came on the market. Right now, there's a 12-month inventory in Sun City West. Historically, 5-6 months would represent a balanced market.

How long a particular property will take to sell depends on the type of property (single-family detached versus a duplex/townhouse with common walls), the condition and the price. Average for the Phoenix area still is around three months but that will vary depending on the aforementioned factors.

Three years ago we sold mom and dad's house in 7 days (151st). A year later, their best friends house around the corner took 4 months. (Falcon Crest). Since the snow birds are just starting their season in PHX, now should be a great time to sell if you price it right.

Hi Barb
That would actually depend on what type of home you have.
Can you give me a little more detail about your home?
There are actually 166 Pending and Sold sales since August 1st, 2007.
That's about 80 sold a month, so there are definitley buyers out there!