Let’s take a look at the real estate market as of 9/30/2016–Here’s our Maricopa County Real Estate Update Sept 2016. A few highlights from our multiple listing service (MLS):
- There are 20,246 active listings–this includes all home types. Inventory has remained relatively stable all year.
- There are 10,878 listings that are under contract.
- The average days on market for active listings is 120.
- There have been 7346 closed sales in the past 30 days and the average days on market for recently closed sales is 72.
- The median home price (closed sales) for the past 30 days was $279,340.
Here are some other interesting figures taken from the MLS:
The market is in sort of a funk right now–despite super low interest rates, there just isn’t the kind of activity we’d expect. With an election coming up soon, it is hard to say what will happen in our market. We expect more of the same through the first quarter of 2017. If you are looking for a home, be sure to download our home search app–it directly links you to the MLS so that you can search just like an agent!