Phoenix one of best cities to sell home
A new report from ZipRealty Inc. shows Phoenix is the 11th-best city in the nation to sell a home.
ZipRealty based its report on the list-to-close-price ratio, which was 98.2 percent in Phoenix. The best seller's market is in San Francisco, which had a 102.5 percent ratio.
The report also shows homes in Phoenix spent a median 25 days on the market last year, a 42 percent drop from 43 days in 2011.
The study doesn't surprise Michael Orr, director for the W.P Carey School of Business' Real Estate Center.
"The market is extremely unbalanced at the moment so it's much easier to sell your home than to buy one because we have low inventory," Orr said.
According to Arizona State University's housing report earlier this month, there were 12,623 Valley home listings on the Arizona Regional Multiple Listing Service on Jan. 1, down 6 percent from a year earlier. With the decreasing number of homes for sale and a surge in buyers, Orr said it's a perfect combination for sellers.
Aaron Granillo, News Editor