More and more available housing inventory is the big news--across the county, we are seeing inventory rise. As of April 19, 2025, there are 26,240 actively listed properties across the greater Phoenix metro area. The active listings have been on the market for an average of 84 days. There are currently 9130 pending sales and 784 "coming soon" listings. From March 1 to March 31, 2025 there have been 6951 closed sales. Here are some MLS stats for recently closed sales: Declining Sales and More Available Inventory The chart below shows the decline in total closed sales over the past
Phoenix Metro Market Report | Feb 2025
There are a few key indicators to the health and direction of a real estate market--those are interest rates, available inventory and the contract ratio. The contract ratio for the Phoenix metro area is currently 34% which means that 34% of the available homes are under contract. Housing inventory has been going up for quite some time with only a few periods of decline. As of mid-March, there are currently 24,853 available properties for sale--compare this to January's figure of 22,258. The active inventory has been on the market for an average of 85 days. The charts below highlight the
Phoenix Metro Market Update | Oct 2024
Just as we saw in September, the trend currently is that housing inventory is increasing around the valley--including areas like Scottsdale and Paradise Valley. Let's dig into our Phoenix metro market update for sales data in October of 2024. There are currently 21,750 active listings which have been on the market for an average of 80 days. There are just over 500 "coming soon" listings and 6842 homes under contract--pending sales have not dropped much in the past 30 days. From October 1, 2024 to October 31, there were 5847 closed sales--up from 4921 for September. Phoenix as a city is
Phoenix Real Estate Update | July 2024
Since our last report a few months ago, housing inventory has remained fairly steady. Active listings as of July 31, 2024 total 17563 and those listings have been on the market an average of 85 days. Pending sales activity has dropped slightly--there are currently 7281 pending sales across the Phoenix metro area compared to 8343 at the end of May. There are 550 "coming soon" properties compared to 600 a few months--inventory may drop a little farther, but not by much. Since June 1, 2024, there have been 11977 sales (5988 per month) which means total sales have dropped by 15%. Here are
Phoenix Metro Real Estate Report | April 2024
Available housing inventory across the county has increased by five percent over the past 60 days. Last report there were approximately 16,300 available properties and today that number is 17,225. Let's dig into our Phoenix metro real estate report for April 2024. As of April 30, there are 9361 pending sales and there are 801 coming soon listings. Since March 1, 2024, there have been 13170 closed sales. The closed sales were on the market an average of 66 days. Here are some other key MLS stats for recently closed sales: This graph shows how the average list price of homes under
Phoenix Metro Real Estate Update | Feb 2024
Available housing inventory has increased almost 1000 units since last month. As of Feb 29, 2024, there are 16,343 active listings and another 730 "coming soon". Let's jump into our Phoenix metro real estate update for February 2024. Active listings have been on the market for an average of 83 days--the average asking price per square foot is a whopping $596! There are currently 8706 pending sales--compare this to 7692 sales last month. Since Feb 1, 2024, there have been 5083 sales--a massive increase from the 3632 last month. Here are some MLS stats for the recently closed
Phoenix Metro Market Update | Jan 2024
Housing inventory has remained somewhat stable over the past few months. As of January 30, there are 15,600 active listings across the county--almost identical to what we saw in December of 2023. Now let's dive into our Phoenix metro market update for January 2024. Active listings have been on the market for an average of 86 days. There are currently 7692 pending sales--compare this to 6231 pending sales in December. This graph shows how the average sold price has changed over the past two years: Since January 1, 2024 there have been 3632 sales with an average sold price of
Phoenix Metro Real Estate Update | Sept 2023
Housing inventory is up 13% from last month--today there are 13,969 active listings across Maricopa County. Let's dive into our Phoenix metro real estate update for September 2023. So, what's driving the increase in inventory? My hunch is that the shift in the market is causing sellers to jump on board before values begin to drop. Also, there are a number of short term rental homes that have been listed for sale. Unless interest rates drop a point or more, we may see a slow, but continued build-up of inventory. The active listings have been on the market for an average of 76 days and the
Phoenix Metro Market Update | August 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 update for August 2023. The active listings have been on the market for an average of 80 days--last month that figure was 79. Pending sales activity has remained steady (only a slight drop)--there are currently 7310 pending sales and there are 526 "coming soon" listings. This graph shows how the number of pending sales has changed across the Phoenix metro area over the past two years: Since August 1, 2023 there have been
Phoenix Metro Market Update | July 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. Let's dig into our Phoenix Metro market update for sales through July 2023. Last month, inventory levels were also low, but sales activity was still strong. There are currently 7813 pending sales--this number is down slightly from last month. There are 470 "coming soon" listings--this number is down as well. Since July 1, 2023 there have been 5920 sales--down 21% from one month ago. Here are some MLS stats for
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