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 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 | 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
Phoenix Metro Market Update | May 2023
Pending sales in Maricopa County are down 10% month-over-month. Let's take a look at our Phoenix metro market update for May 2023. Last month there were 12,189 active listings and today there are 11,692 which have been on the market an average of 83 days. What we're seeing is that pricing in this market is absolutely critical. There is demand, but at 7% interest rates, the list price must be spot on. If a home is listed correctly and shows well, there is a good chance it will get scooped up fairly quickly--especially in hotter markets like Chandler and Gilbert. There are 9055 pending
Phoenix Metro Real Estate Update | April 2023
Housing inventory across Maricopa County continues to drop. Here is our Phoenix metro real estate update covering April 2023 sales data. In March we reported that many cities/towns were heating up in terms of sales activity and that inventory had fallen--this trend is continuing across most of the county. In March there were 13,900 active listings--today there are 12,189--this represents a 12% decline in 30 days. This chart shows how active listings have changed across Maricopa County over the past two years: Pending sales have increased 10% month-over-month to 10,017. There are 587
Phoenix Metro Real Estate Update | Feb 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 Phoenix metro area--down from around 15,600 last month. Other areas like Scottsdale have also seen a small dip in inventory. Let's dive in to our Phoenix metro real estate update for February 2023. The active inventory has been on market an average of 91 days and in my opinion, this is a reasonable and balanced number. There are 9593 pending sales which represents quite an increase in sales activity from the previous 30 days. There are
Phoenix Metro Market Update | Dec 2022
Inventory is dropping around the county. Let's jump into our Phoenix metro market update for December 2022. Last month we noted that there were approximately 19,284 active listings--as of 12/31, there are 16,798 active listings--a 13% drop in just one month. The active listings have been on market an average of 94 days. There are 5664 pending sales and 511 "coming soon" listings. Since 12/1 there have been 5064 sales--here are some stats for recently closed sales: This graph shows how the average list price for pending sales has changed over the past two years: The recent
Phoenix Metro Market Update | November 2022
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: 60Average dollars per square foot obtained at
Phoenix Metro Real Estate Update | October 2022
The numbers are in and inventory remains elevated. Let's jump right into our Phoenix metro real estate update for October 2022. As of October 30, 2022, there are 20,890 active listings across all cities and towns in Maricopa County. In August, there were less than 18,000 active listings and approximately 9000 pending sales. Today there are 6709 pending sales and 485 "coming soon" listings. Since September 1, 2022, there have been 11,417 sales. Here are MLS stats for recent sales: Average days on market: 50Average price per square foot: $334Average list to sale price ratio: .98Average
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