San Tan Valley Rents & Vacancy Duration

[Laura Au]

Hi Everyone,

Anyone here have experienced the rental markets in San Tan Valley area.

I have House currently listed for Rent at $1,799.

Looking to see how long homes stay on the market.

[Doug McVinua]

@Laura Au Looking at San Tan Valley over the last six months, 400 homes have been rented, with average days on the market of 44. There are currently 64 available for rent and 23 under contract.

The absorption is 66 2/3 homes per month, so with 64 on the market, there is currently a 30-day supply of rentals in San Tan Valley. Lots of nuances enter in, and details matter, but yours at $1799.00 is most likely in the sweet spot and should see success if everything is positioned correctly. 

[Walter Moneypenny]

@Laura Au You are most likely priced in a good spot for a normal market. I believe that the previous reply from an excellent broker just looked at the listings in the MLS. When you account for the FRBO's and companies such as mine that do not use MLS for listings, then there are a lot more rentals on the market. We have seen the days on market slowly come down, but it is still high compared to previous years. Hang in there! If the home is in good shape it should rent.

[Doug McVinua]

@Walter Moneypenny As a Professional Property Manager, we use many sources and avenues to find tenants for your owners. MLS is one tool that has advantages and disadvantages. We use everything we can do to provide more exposure and potentially find a quality tenant, including MLS. MLS is just one tool. Yes, it takes more effort on our end, but with the market being a bit softer, it is a necessary tool, along with Zillow, Trulia, Realtor.com, Homes.com, Facebook Marketplace, etc., that we can use to serve our owners.