It depends.
Most people aren't actually asking how the overall market is since it's rare to have a house that fits into the median of the market trends. It's like someone asking if your family is "normal". Of course not, everyone's family is crazy. Try to define normal.
So, from a real estate perspective your answer will depend on various factors i.e. location, price range, condition, upgrades, lot location, school district etc. While your situation may be in an appreciating market others may be in a slow down period.
This is why it's important to have someone who understands how to analyze the statistics of your niche. Unfortunately either bad experiences or a lack in education leaves many people in the dark as to what their real estate agent is supposed to do. Anyone can pull comps from the last few months and give you a quick range estimate of a homes value. Shoot, this is Zillow's business model. However, your agent should be going deeper than this.
Analyzing each house and sale independently for common characteristics is a must. For example; open floor plans work in some areas and not others, garage vs. carport, pool, local eateries etc. These will all help paint a picture about not just when houses are selling but what houses are selling and most importantly WHY. Zillow can't tell you this and unfortunately most agents won't either.
Now, I will still answer the standard question with a link to my market pulse website. It's a macro snap shot that I still follow to assist in narrowing trends. However, if you have any questions about your specific market please don't leave it to chance, or worst to Zillow. I'm here to help anytime.
Market Update
Chris Tiller, MBA
Russ Lyon Sotheby's International Realty
17207 N. Perimeter Dr. Suite 120
Scottsdale, AZ 85255
Office: 480.502.3500
Cell: 602.561.1346
Fax: 480.624.3795
Office: 480.502.3500
Cell: 602.561.1346
Fax: 480.624.3795
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