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 Metro Real Estate Update | May 2021

May 31st, 2021

Home > Phoenix Real Estate Market > Phoenix Metro Real Estate Update | May 2021
Phoenix Metro Real Estate Update May 2021

Housing inventory has risen 4% over the past 30 days–this trend can be seen in most cities and towns including sub-markets like Scottsdale. Let’s dig into the numbers–here is our Phoenix metro real estate update for May 2021.

Currently, there are 5086 active listings across Maricopa County–this includes all housing types. There are 806 “coming soon” properties–compare this to 772 last month. Distressed inventory, which includes auction properties, foreclosures, short sales and pre-foreclosures is at an all-time low of just 31 properties.

The chart below shows how dramatically the median home sale price has changed over the last two years. The data used includes normal sales (not distressed) and represents single family detached home sales.

Data provided by ARMLS

Here are some other key metrics to ponder:

  • The average list to sale price ratio increased from 1.01 to 1.14
  • The average dollars per square foot obtained at sale was $324
  • The average days on market for closed sales over the past 30 days dropped 15% to 28

According to Bankrate.com, rates could move up over the next few weeks and months; however, 30 year fixed rates are still amazing. The lowest advertised 30 year mortgage rate is 2.75% with zero points–keep in mind that rates vary based upon a number of factors including ones FICO score.

Given low mortgage rates, a high demand for homes and a housing shortage, we expect that the Arizona real estate market will remain strong through the summer. Thank you for reviewing our Phoenix metro real estate update for May 2021. If we can be of service, reach out anytime.

Filed Under: Arizona Real Estate News, Phoenix Real Estate Market Tagged With: Phoenix homes for sale, 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.

You Might Also Like

Phoenix metro real estate update July 2022

Phoenix Metro Real Estate Update | July 2022

July 30th, 2022
Housing inventory around the valley is on the rise and sellers are scrambling to adjust as home values start creeping down. Time to review our Phoenix...
Read more
Phoenix metro market update June 2022

Phoenix Metro Market Update | June 2022

June 30th, 2022
Homes, homes and more homes hitting the market. Let’s jump into our Phoenix metro market update for June 2022. In March, we saw a record low...
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.