From last month, housing inventory has dropped a bit. Let’s dive into our Phoenix Metro Market Update for November 2022. As of 11/1/2022, there are 19,284 active listings across Maricopa County. The active listings have been on market an average of 82 days. There are 6693 properties under contract and another 409 “coming soon” listings.
This graph shows the change in listings under contract over the past two years:
Since November 1, 2022, there have been 4447 sales. Here are some MLS stats for the recent sales:
- Average days on market: 60
- Average dollars per square foot obtained at sale: $365
- Average list to sale price ratio: 0.97
This graph shows how the average sold price has changed around the county over the past two years. Today we are at about the same level as 12/2021:
Though interest rates have fallen some, we have not seen a large uptick in sales–only a small blip. Between now and mid-January, we expect active listings to fall and sales activity to slow. Thank you for reviewing our Phoenix metro market update for November 2022.