CLIENT LOG-IN
800.519.5893 Ext. 1
  • Search
    • Arizona Home Search Registration
    • Search AZ Homes
    • Arizona Cities & Towns
    • Featured Luxe Listings
    • Paradise Valley Luxury Rentals
    • Scottsdale Luxury Rentals
    • Phoenix Metro New Home Search
    • Multi-Family Properties
  • Resources
    • Buyers
      • Home Buyer Insight
      • Luxe Buyer Advocacy
      • Relocating to Scottsdale
      • Relocating to Arizona
      • Get a Home Loan
      • Home Purchase Resources
      • Arizona Luxury Home Financing
      • Ways to Take Title in Arizona
      • San Diego Real Estate Broker
    • Sellers
      • Home Seller Insight
      • Arizona Home Valuation
      • Arizona Expired Real Estate Listing Audit
    • Arizona Contractors & Real Estate Vendors
    • Arizona Luxury Home Resources
    • FSBO Rescue Guide
    • Real Estate Agent Resources
      • Luxe Agent Referral Program
  • Luxe Agents
    • Phoenix Metro & Surrounding Cities
    • Prescott, AZ
    • Tucson, AZ
    • Flagstaff, AZ
    • Top Luxe Agent
    • Top Luxe Team
  • Blog
  • CAREERS
  • Contact Us
    • About

Phoenix Market Update December 2019

December 21st, 2019

Home > Phoenix Real Estate Market > Phoenix Market Update December 2019
Phoenix Market Update December 2019

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 what we saw in the October report.

Here are market stats for November for all cities and towns in Maricopa County:

Phoenix Market Stats November 2019

 

For properties priced $300K or less, there is a one month supply of homes–the supply increases as we move up in price. For example, for homes priced from $700K to $1M, there is a 5.93 month supply.

This graph shows the supply versus demand at various price points:

Phoenix Market Supply v Demand December 2019

Due to near historic low interest rates, there are buyers in the marketplace. With the holidays almost upon us, activity will slow until mid-January. While there is some uncertainty in the air due to problems with the current White House, we believe that sales will remain strong throughout 2020–perhaps at slightly lower numbers than in 2019. Home loan rates are also expected to remain low in 2020.

Thank you for taking time to read our Phoenix market update for December 2019. If you have real estate questions, please reach out anytime–we are here to help. Happy holidays!

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

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.

You Might Also Like

Phoenix metro real estate update Feb 2023

Phoenix Metro Real Estate Update | Feb 2023

February 28th, 2023
For the first time in many months, total active inventory has fallen below 15,000 units. As of February 28, there are 14,800 active listings across the...
Read more
Phoenix metro real estate report Jan 2023

Phoenix Metro Real Estate Report | Jan 2023

January 31st, 2023
Despite reports of gloom and doom, the Phoenix market is still doing okay. Here is our Phoenix metro real estate report for January 2023. As of...
Read more

Sign-up to receive free market updates from luxerealestategroup.com

We will never send you spam
Privacy Policy

  • Facebook
  • LinkedIn
  • Pinterest
  • Twitter
· Luxe Real Estate Group, LLC. All Rights Reserved. ·
Luxe Real Estate Group ADRE License# LC586004000
Jay Martinez ADRE License# BR107652000
Privacy Policy | Cookie Policy | Terms of Use | Site Map

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

Cookie Policy

Learn more about our Cookie Policy.