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
      • Relocating to Scottsdale
      • Relocating to Arizona
      • Get a Home Loan
      • Arizona Luxury Home Financing
      • Ways to Take Title in Arizona
      • San Diego Real Estate Broker
    • Sellers
      • Arizona Home Valuation
    • 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 Real Estate Report | November 2020

November 25th, 2020

Home > Arizona Real Estate News > Phoenix Real Estate Report | November 2020
Phoenix Real Estate Report November 2020

Happy Thanksgiving!

Let’s get right into our Phoenix real estate report for November 2020.

Once again, we’ve dipped below 8000 active listings and as of 11/25/2020, there are 7722 properties listed across the Phoenix metro area–this is an extremely low number and it is the inventory level, combined with low interest rates, that is driving our hot housing market.

Last month we reported that inventory was floating just under 8600 units–we’ve experienced a significant drop over the past 30 days.

Another leading indicator is the average days on market (ADOM) for recently sold properties. The ADOM ties into supply v demand–generally speaking, the fewer the supply, the greater the demand–especially when combined with low interest rates.

The graphic below shows supply v demand for Maricopa County.

As of last month, there was less than one months’ supply of homes and this month that stat holds true.

The ADOM for recently sold homes dropped to 40 days.

Here are some other key housing stats for this month:

  • 12917 pending sales–sales activity is really strong
  • 10465 sales over the past 30 days
  • Over 500 “coming soon” properties
  • $226–average price per square foot obtained at sale
  • 1.0–list to sale price ratio–on average, homes are selling at full price

Given the low supply of homes and the favorable interest rate environment, we predict that sales will remain strong right up to the end of the year.

In 2021, it’s anyone’s guess. Thanks for reviewing our Phoenix real estate report for November 2020. If you have questions about Arizona real estate, please reach out any time.

Filed Under: Arizona Real Estate News, Phoenix Real Estate Market Tagged With: Phoenix homes for sale, Phoenix metro market stats, 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 market update August 2023

Phoenix Metro Market Update | August 2023

September 8th, 2023
Active housing inventory has increased slightly from last month to a current level of approximately 12,250 listings. It’s time to dig into our Phoenix metro market...
Read more
Phoenix Metro Market Update July 2023

Phoenix Metro Market Update | July 2023

August 11th, 2023
Overall, housing inventory levels have remained steady. There are currently 11,593 active listings across Maricopa County–these have been on the market an average of 80 days....
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