2015 has come and gone and now it’s time for our 2015 Maricopa County Market Recap. The past year has been somewhat flat in terms of overall appreciation and total active listings (for all product types) hovered around 20,000 for the year. There were 84,155 total closed residential transactions in 2015–this figure is up from the 76,550 sales in 2014. Here is a quick snapshot of the low sale, high sale and average sales across the county:
This graph shows Closed Sales across the county for 2015:
This graph shows how the Average Days on Market has changed over the course of the past 12 months:
Where are we now? As of January 20, 2016, there are currently 21,515 active listings, 9000 homes under contract and 2620 closed sales since January 1, 2016. Of the active listings, just 938 are considered distressed–this is just 4% of total inventory. Market activity picked up in December 2015 and if the past 30 days is any indication of where we’re headed, 2016 could be a strong year in terms of overall sales activity. On another bright note, the 30 year fixed home loan rate just dipped below 4%–this is great news for buyers who are on the fence and for home sellers. If you have questions about this 2015 Maricopa County market recap, please contact us.
If you have a question about the market, a community or particular property, please contact one of our outstanding agents for real estate help. We look forward to serving your real estate needs in 2016 and beyond. Happy New Year!