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May 2019 Phoenix Real Estate Market Update

May 30th, 2019

Home > Arizona Real Estate News > May 2019 Phoenix Real Estate Market Update
December 2018 Phoenix metro real estate 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:

Active Listing Changes Maricopa County

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 five days from last month.  The average sold price for the past 30 days was $349,186–the average list to sold price ratio was .98 and the average dollars per square foot obtained at sale was $182. Keep in mind that these figures will vary greatly by area and by property.

These graphs show the absorption rate based upon demand and the sold to list price ratio from May 2018 to April 2019:

Absorption Rate AZ real estate

With inventory falling and home loan rates very low, we expect demand to be stronger this summer than in past years.  If you have a question about a community, particular home or just a general real estate question, reach out any time–we’d be honored to help.  If you are a first-time home buyer, you might also like our Home Buyer Insight page.

(Above graphs provided by ARMLS and FBS).

 

Filed Under: Arizona Real Estate News, Phoenix Real Estate Market Tagged With: Arizona real estate, Arizona Real Estate News, Phoenix Real Estate, Phoenix real estate market, Phoenix real estate market stats, Phoenix real estate news

About Luxe Real Estate Group

The Luxe Real Estate Group is a boutique firm offering residential and commercial clients the highest level of service and expertise in the industry. The agents of Luxe form a dynamic, hard-working and dedicated team who continually strive to exceed client expectations.. If you are thinking of buying or selling an Arizona home and would like to discuss your needs, find a Luxe agent now.

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