Like much about Phoenix, its current real estate market is sizzling hot. In many regions across the country, COVID-19 has given the real estate market a major setback, but in Phoenix, experts are certain slumps are only temporary. In fact, the pandemic has even created a pent-up demand.
From the September 2020 Greater Phoenix Housing Report, here are some of the most relevant numbers:
- Closed sales are up +4.8% month-over-month. Year-over-year comparison is up +18.5%.
- New inventory is up +2.9% month-over-month and +14.6% year-over-year.
- Average new list prices are up +11.1% year-over-year.
- The median list price is up +11.7% year-over-year.
- Average sales price is up +23.1% year-over-year.
- Median sales prices are up +17.5% year-over-year.
- Days on market are down -13 days year-over-year and -5 days month-over-month.
As for future projections, experts predict greater market stability in 2021. Since 2012, Phoenix housing prices have grown by 160%, and this is only expected to continue. Home values are projected to increase by 8.5% in the next twelve months. Since 2006, the city’s population has grown faster than housing, and the city continues to remain a highly attractive place to live.
Families with low-to-middle incomes can still afford to have a high quality of life – something less attainable in urban coastal centers. These factors make Phoenix one of the most attractive real estate markets in the country.
If you’re in the industry, what is the best way to capitalize on this boom? Digital marketing for real estate is a sure way to connect with clients and build your business. The Phoenix market started off strong in 2020, but like everything else, did receive a hit due to the pandemic. As the market is projected to take off again, it is imperative for anyone in real estate to start taking proactive measures to ensure their business will benefit.
Even as life returns slowly back to normal, many of the COVID-19 precautions – particularly social distancing – will likely last for months to come. Digital marketing provides creative solutions for adapting.
You will need a solid content marketing strategy for your real estate business. First and foremost, it’s important to know your buyer. What populations are driving the real estate boom? Retirees and snowbirds are increasingly taking up residence in Arizona, which provides a cheaper, cleaner, and storm-free alternative to sunny Florida. Phoenix is home to a large university population, attracting young renters and first-time buyers. Additionally, families are drawn to Phoenix’s cheap cost of living from major cities like Los Angeles and Seattle.
Target these buyers with strategic digital content. Advertise what houses are on the market, discuss market trends, or share your expertise on your website and in blogs and social media posts. Equally important is to create space for a two-way conversation. Listen and respond to buyers’ concerns.
With all your content, but sure to include engaging visuals. These include high-quality photos or video, infographics, or illustrations. Data suggests 92 percent of buyers first search online to find their dream home. When they find your listings, pictures of the property will be what first grabs their attention. Hook buyers with visuals to keep them reading your content.
To get low cost leads, new blog content should be posted 2 to 4 times per month. Social media posts should come daily or alternate days. The more you post, the greater your chances of attracting a wide audience.
Be strategic about what you post. Of course, tailor subject matter to your intended audience, but content should also be carefully crafted to include popular keywords. Even if you are posting exceptional content, it doesn’t make much difference if no one sees it! That’s why you should be intentional about improving your website’s search engine optimization (SEO). Target a specific keyword phrase for each web page or blog post. Do a little research to see what buyers are searching for and choose simple phrases that can be place strategically within your writing.
Developing a content marketing strategy will be work, no doubt, but the long-term results are always worth the effort. To support you in this process, WriterArmy provides a real estate blog writing service that can generate a constant flow of quality content. We also provide scalable social media marketing, landing pages, web design, and more.
What makes us unique? We have a Phoenix-based office and specialize in local real estate content marketing. Our content writers understand the neighborhoods and will help you develop your buyer profile. We know what buyers want, whether it is a snowbird, retiree, or recently graduated university student, and we can respond to each of their unique concerns. With almost a decade of experience producing outstanding real estate content, we provide value while selling our services.