Housing inventory has been on the rise recently. Check out our Phoenix metro market update for April 2022 to see what's happening. The main talking points are that inventory and home loan rates are on the rise. Last month at this same time, there were 4496 active listings across the county--now that number is 6685--this is a dramatic shift. The number of pending sales has fallen by about 20 percent over the past month. There are currently 839 "coming soon" listings which is about 100 less than last month. Since April 1, 2022, there have been 9190 sales. Here are some MLS stats for the
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 Metro Real Estate Update | Sept 2021
Phoenix inventory has risen slightly since last month and like other parts of the county, the buying frenzy is starting to mellow out. Let's dive into our Phoenix metro real estate update for September 2021. Sales activity is still strong, but we're not seeing as many over-the-top feeding frenzy type negotiations. Nicely renovated homes that are well located are still commanding top dollar (and in some cases more than the asking price), but it's not the panic buying situation we saw early in the year. For folks looking to sell and rent, the situation is not good--as of today, there are
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
September 2019 Phoenix Real Estate Update
Let's jump right in to our September 2019 Phoenix real estate update. First we'll look at inventory numbers. Last months' report showed active listings at around 13, 250. As of September 30, we have 14,059 actively listed properties across Maricopa County. In terms of distressed properties, there are 141--this is just 1% of total available inventory. The average days on market for all active listings is 101. While inventory is up 800 units from 30 days ago, we are still experiencing a shortage at some price points. There are just over 10,000 pending units (under contract)--this
August 2019 Phoenix Real Estate Market Report
To learn more about Maricopa County housing trends, read our August 2019 Phoenix real estate market report. Just when we thought inventory couldn't fall anymore, it dropped again and we now face a real housing shortage (at some price points). As of August 28, there are just 13,249 actively listed properties on the market--this includes all housing types. The average days on market (ADOM) for active listings in 105, but if we look at properties priced under $300K, this number drops significantly--see the graph below for more detail. As you can see, for homes priced under $300K, there is less
April 2019 Phoenix Metro Real Estate Update
This year is flying by and since we missed last month (apologies for that), here is our April 2019 Phoenix Metro real estate update--this market report will cover all of Maricopa County for the past 30 days or so. Let's jump in and view the numbers. There are currently 18450 homes available for sale--this number has fluctuated up and down by 500-700 for many months. At the beginning of 2019, it looked as if the inventory could reach 20,000 units, but activity began to pick up and the numbers quickly fell. Of the active listings on market, the average days on market (DOM) is 99--this
