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 Market Update | August 2022
We've recently had a small bump in pending sales. Let's dive into our Phoenix metro market update for August 2022. Last month active inventory was just under 18,000 units--as of August 30, 2022, there are 18,730 active listings across the county. There are currently 9007 pending sales--this number is up by 1000 from last month. There are 791 "coming soon" properties. Overall, closed sales are down from July numbers with 5421 closed sales since August 1. Here are some MLS stats for the recently closed sales: Average days on market: 39 (up 7 days from July)Average dollars per square
Phoenix Metro Real Estate Update | July 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 metro real estate update for July 2022. As of July 30, there are 17,985 active listings--compare this to March or even May of this year. The graph below says it all--highlighting the rise inventory of the past year. There are 7943 properties under contract with another 741 "coming soon" to market. Since July 1, 2022 there have been 6112 sales with average days on market of 32. Here are some other key stats for recently sold properties
Phoenix Real Estate Report | March 2022
In January, we were sitting at around 4900 active listings across the county--today, the housing inventory is below 4500 units. Let's get into our Phoenix real estate report for March 2022. As of March 30, there are 4496 active listings across Maricopa County. Demand from out-of-state buyers continues and new home construction cannot keep up. Another critical factor contributing to the housing shortage is that would-be sellers continue to sit on the fence--this must be due in part to fears that finding a replacement home will be difficult. There are 12,640 pending sales and there
Phoenix Metro Real Estate Update | Dec 2021
The Phoenix housing market is white hot. Let's dive into our Phoenix metro real estate update for December 2021. Keep in mind that the stats and info mentioned herein cover all cities/towns in the Phoenix metro area--not just the City of Phoenix. A few months ago, we were sitting at approximately 7800 active listings--today that number has plummeted to 5885. We are in desperate need of more housing. There are 9932 properties under contract and there are 605 "coming soon" properties. Over the past sixty days, there have been 17,445 closed sales. The average days on market for recently
Phoenix Metro Real Estate Report | Oct 2021
For a minute, the market seemed as if it were slowing down; however, there are clear signs that parts of the county are ramping back up. Let's take a look at our Phoenix metro real estate report for October 2021. Last month there were approximately 7200 homes for sale across Maricopa County--as of October 31, there are 7865 actively listed properties--this represents a nine percent increase. There are 12,688 properties under contract--very similar to the amount last month at this same time. There are 620 "coming soon" properties. The average days on market for recently sold properties
Phoenix Market Update February 2020
With February drawing to a close, our inventory continues to drop. Don't miss our Phoenix Market Update for February 2020. We are seeing shades of the 2005 market frenzy--when buyers, desperate for a home, were lining up to make offers well over the asking price. In my humble opinion, this is not a great place to be. Inventory across the county is dangerously close to 10,000 units. As of February 29, 2020, there are 11,078 active listings in Maricopa County. Think about our population for a minute--there are over 4.7 million people in the Phoenix metro area and there are just 11,000
January 2020 Phoenix Real Estate Update
With nearly one month behind us, it's time for our January 2020 Phoenix real estate update. Let's do this. As of January 30, 2020, there are 11,848 active listings across the greater metro Phoenix area--this number is approximately 2000 less than in December and it's by far the lowest number we've since 2005. It's getting scary around here. The active listings have been on market an average of 106 days--up just two days since December. There are 10,611 properties under contract and since December 30, 2019, there have been 6265 sales. Here's a market summary for the
Phoenix Market Update December 2019
After a one month break from reporting, it's time for our Phoenix market update for December 2019. Let's dive in. The big, but not so shocking news is that the low inventory situation persists. As of December 20, 2019, there are 13,327 properties actively listed across Maricopa County--this is the lowest number since 2005. Here are some key numbers: The average days on market (ADOM) for the active listings is 104 while the ADOM for pending sales is 74. There have been 12,274 sales closed since November 1 and for those sales, the ADOM was 58--this number is relatively the same as
October 2019 Phoenix Real Estate Update
September was a busy month in terms of real estate activity. Now it's time to share our October 2019 Phoenix real estate update. Here we go: The most important number is always total available housing inventory. As of October 29, 2019, there are 14521 active listed properties for sale. Overall, available housing is up three percent from last month. Distressed inventory continues to make up just one percent of available properties. There are 8952 pending sales and over the past 30 days there have been 6210 sales. In our September report, we noted that there were over 10,000 pending
