CATHERINE REAGOR

It's selling season. Is your home in the best price range, neighborhood to benefit?

Catherine Reagor
The Republic | azcentral.com
  • February is considered the big kick-off month for the Valley’s housing market
  • Nearly, 40 percent of all Valley home sales during 2017 were struck during last Spring
February is considered the big kick-off month for the Valley’s buying and selling season. Prices are expected to rise because there aren’t enough houses listed.

You might notice a few more sale signs in your neighborhood.

Metro Phoenix’s home buying and selling season is in full swing. And because there aren’t enough houses listed for sale, prices are expected to rise in some Valley neighborhoods, say market watchers.

February is considered the big kick-off month for the Valley’s housing market.

The Waste Management Phoenix Open exposes visitors to Phoenix’s great weather when it’s freezing in the Midwest and back East. And then more people flock to the area in March for Spring Training.

Families that hope to move once school ends also tend to start the process this time of year.

Selling prices may climb from last year

Metro Phoenix’s median home price could climb to $250,000 this month, after hovering at about $245,000 for much of the second part of last year.

That’s the forecast of The Information Market’s housing expert Tom Ruff.

“Pitchers and catchers are reporting to Spring Training. It must be February, and real estate agents across the Valley know what that means,” he said in his latest report for the Arizona Regional Multiple Listing Service. “Their selling season has begun.”

READ MORE:Higher loan limits just made it easier to buy that first house in metro Phoenix

SEE ALSO:How to sell your metro Phoenix home fast and avoid open houses and looky loos

He said this is the time of year where the number of listings under contract increase daily and set up sales volume for March, April, May and June.

Nearly, 40 percent of all Valley home sales during 2017 were struck during those four months.

Phoenix-area home sales were up almost 3 percent in January from last year’s pace for the month.

Not enough houses priced below $400K

Fewer homes for sale in metro Phoenix could drive up home prices during the next few months.

There are about 17,500 listings, not already under contract, for Valley houses now, down almost 15 percent from last year, according to the listing service.

But not every Valley neighborhood will see a bump in home prices during this selling season.

Wise real estate agents will tell you there are plenty of million-dollar homes for sale, but not enough houses priced below $400,000.

RELATED:2017's strong housing market in metro Phoenix gives 2018 a lot to live up to

Home prices will climb the most in popular neighborhoods, many closer in but some farther out in Gilbert and Buckeye, where most Valley buyers can afford a house of their own.

The speed at which sold banners are added to sale signs near your home could be a good gauge of where prices are headed in your neighborhood.