Northeast Valley Real Estate Insights – February 2025

“How much would my home sell for?”

That’s a generic question for an answer that requires specific local knowledge and expertise. Let’s dive into some details.

Many factors need to be considered: current market conditions for your specific area; the condition and location of your home; relevant comparable sales; seasonality; marketing; and your own urgency.

National trends don’t reflect what’s happening locally. Is it a buyer’s market or a seller’s market in your ZIP Code? In your community? Recently there was a brief buyer’s market in most areas around the valley, but that window has closed due to reduced supply plus a slight increase in demand. If more homes come on the market over the next few weeks, the Cromford® Market Index could change again.*

In what condition is your roof? HVAC? Plumbing? Is there deferred maintenance? All of this impacts your home’s value. Buyers won’t pay top dollar for a home in need of numerous repairs or updates. For an older home, it might make sense to have it inspected and even appraised before pricing it.

How have other homes fared in your neighborhood lately? Appraisers will adjust for differences between those homes and yours.

Timing matters. Seasons change and so does our market. The same price in our high season may not work in the summer months.

Let’s not ignore the fact that your home needs to also “look the part” if you expect it to sell at the higher end of your price range. That’s why professional marketing matters. Some agents are willing to invest more than others in showcasing your home in its best light.

How urgently do you need to sell? Research from the National Association of REALTORS® suggests that 90% of potential buyers will look at your home if it is priced 15% below market value, while only 10% of potential buyers will look if it’s priced 15% above market value.

So: how quickly would your home sell? The answer will take some homework.

*I subscribe to the Cromford ® Report, the leading local authority on the residential real estate market. I can dive pretty deep into their data such as Days on Market, Monthly Supply, Sold vs. List Price, Contract Ratios and more. Please reach out if you’d like more detail about your ZIP Code or town.

Darrell Doepke is a full-time, RealTrends Verified Top 1% Realtor® in Arizona (2024), specializing in Carefree, Cave Creek, and North Scottsdale luxury homes. With a background in marketing and journalism, Darrell tells each home’s story to grab buyers emotionally. His narrated property videos showcase this strategy, and he invests more in marketing than most agents. He lives by his motto: “I don’t wait for buyers — I pursue them.” Darrell is VP of Community Partners and founder of Community Fest, an October event supporting local nonprofits. He is known for his SRES® designation assisting seniors; his Midwest values, and community leadership. Clients often say he’s the best Realtor® they’ve worked with.