After a one month break from reporting, it's time for our Phoenix market update for December 2019. Let's dive in. The big, but not so shocking news is that the low inventory situation persists. As of December 20, 2019, there are 13,327 properties actively listed across Maricopa County--this is the lowest number since 2005. Here are some key numbers: The average days on market (ADOM) for the active listings is 104 while the ADOM for pending sales is 74. There have been 12,274 sales closed since November 1 and for those sales, the ADOM was 58--this number is relatively the same as
October 2019 Phoenix Real Estate Update
September was a busy month in terms of real estate activity. Now it's time to share our October 2019 Phoenix real estate update. Here we go: The most important number is always total available housing inventory. As of October 29, 2019, there are 14521 active listed properties for sale. Overall, available housing is up three percent from last month. Distressed inventory continues to make up just one percent of available properties. There are 8952 pending sales and over the past 30 days there have been 6210 sales. In our September report, we noted that there were over 10,000 pending
How to Get an Arizona Real Estate License
If you've considered a career in real estate, here is a quick guide on how to get an Arizona real estate license. Let's dive right in. First, let's look at the main steps to obtain an Arizona real estate license. Attend an Arizona Department of Real Estate (ADRE) approved school (must be in-class attendance) and complete the 90 hours of required course work for the real estate salesperson license. During your course work at the real estate school, you will obtain a Fingerprint Clearance Card--this card is issued by the Department of Public Safety--most schools will assist with this
September 2019 Phoenix Real Estate Update
Let's jump right in to our September 2019 Phoenix real estate update. First we'll look at inventory numbers. Last months' report showed active listings at around 13, 250. As of September 30, we have 14,059 actively listed properties across Maricopa County. In terms of distressed properties, there are 141--this is just 1% of total available inventory. The average days on market for all active listings is 101. While inventory is up 800 units from 30 days ago, we are still experiencing a shortage at some price points. There are just over 10,000 pending units (under contract)--this
August 2019 Phoenix Real Estate Market Report
To learn more about Maricopa County housing trends, read our August 2019 Phoenix real estate market report. Just when we thought inventory couldn't fall anymore, it dropped again and we now face a real housing shortage (at some price points). As of August 28, there are just 13,249 actively listed properties on the market--this includes all housing types. The average days on market (ADOM) for active listings in 105, but if we look at properties priced under $300K, this number drops significantly--see the graph below for more detail. As you can see, for homes priced under $300K, there is less
July 2019 Phoenix Real Estate Market Report
The big news in our market is greatly reduced housing inventory--do not miss our July 2019 Phoenix real estate market report. Let's do this. Back in May we had approximately 16,785 active listings and as of July 27, we have 14,400--this represents a 14% reduction in available homes. Not all price ranges have been affected--for example, there is still excess housing in the $1M plus range. The days on market for active listings across Maricopa County is 105 and the average days on market for sold properties in the past month is 63--very similar to numbers we saw in May. At all price
May 2019 Phoenix Real Estate Market Update
With June around the corner, it's time for our May 2019 Phoenix real estate market update. Let's see what's happening. As of May 30, 2019, there are 16,785 active properties for sale across Maricopa County--inventory has fallen by ten percent in the last 30 days. The average days on market for the active listings is 102--up from 99 last month. Check out how the active listings have changed year over year: There are currently 13,259 properties under contract and over the past 30 days there have been 9957 sales. The average days on market for recently sold properties was 65--down
April 2019 Phoenix Metro Real Estate Update
This year is flying by and since we missed last month (apologies for that), here is our April 2019 Phoenix Metro real estate update--this market report will cover all of Maricopa County for the past 30 days or so. Let's jump in and view the numbers. There are currently 18450 homes available for sale--this number has fluctuated up and down by 500-700 for many months. At the beginning of 2019, it looked as if the inventory could reach 20,000 units, but activity began to pick up and the numbers quickly fell. Of the active listings on market, the average days on market (DOM) is 99--this
Feb 2019 Phoenix Metro Real Estate Update
We're back--it's been a few months since our last report and now it's time for our Feb 2019 Phoenix metro real estate update. The big news right now is rising inventory. Since December of 2018 inventory levels have been on an upward track. Today, we are now sitting at approximately 19,300 active listings across the Phoenix metro area. Buyer demand has waned a bit over the past 60 days--essentially this means the market has softened a bit. Let's look at some of the key numbers. For active listings, the average days on market is 102--this number is up from December. Currently there are
December 2018 Phoenix Metro Real Estate Update
This year has flown by and now it's time for our December 2018 Phoenix metro real estate update. Let's jump right in. There are currently 18046 properties actively listed across Maricopa County--this number is down slightly from the past month where the inventory reached a peak of around 18,500. There are 6612 properties under contract and in the past 30 days there have been 6696 sales. December can be hit or miss in terms of sales activity--we've seen a lot of activity this time of year and we have also seen very little activity. Sales activity always declines right around the holidays,
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