As housing supply remains near an all-time low in the Valley, Opendoor identified the top 10 hottest ZIP codes getting the most attention from potential homebuyers.
Tracking in-home visits from prospective buyers of its owned properties between January and March nationwide, Opendoor identified the top 10 ZIP codes in each of its markets.
Michelle Meyers, general manager for San Francisco-based Opendoor’s Phoenix operations, said her team tracked the Opendoor app, which allows shoppers to unlock the front door.
The app allows customers to enter homes at their discretion, she said.
“I believe that these are great city choices, especially for first-time homebuyers,” she said. “People are flocking to where they see an opportunity to just get in. They know it may not be their forever home, but to get started with home ownership where there is available inventory is critical.”
Keith Burton, a Realtor with The Rider Elite Team in Scottsdale, said there are 2,741 single-family homes on the market, with 1,937 or 71%, of those being single-level homes.
Of those, 30% are in the West Valley and 70% are in the East Valley.
Of the 29% remaining 2-story homes, 24% are in the West Valley and 75% are in the East Valley, he said.
Many home sellers are taking advantage of the low inventory, hiking up their asking price, according to a recent study by Realtor.com.
A survey of 657 homeowners who plan to sell within the next 12 months revealed that 29% will ask for more than they think their home is worth, while 24% cited making a profit in the current market as a reason to list.
In that survey taken between March 26 and April 7 via HarrisX, 13% said they think they should take advantage of the current seller’s market.
As such, 29% said they will ask for more than they think their home is worth.