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 Update | Sept 2024
Last month there were 18491 active listings across Maricopa County--as of Sept 30, 2024, there are 19750 available properties. Inventory has risen in most cities and towns including Scottsdale and Paradise Valley. Let's dive into our Phoenix metro real estate update for Sept 2024. The active listings have been on the market for an average of 83 days--no change over the past 30 days. There are 7069 pending sales--up from 6612 last month. There are 784 "coming soon" listings and since Sept 1, 2024, there have been 4921 sales--down from 5641 in August. The graph below shows how the number of
Phoenix Metro Real Estate Report | Aug 2024
Housing inventory across Maricopa County has increased by about 1000 units since our last report. As of August 31, there are 18,491 active listings which have been on the market an average of 83 days. Let's dive into our Phoenix metro real estate report for August 2024. The average days on market for active listings has increased markedly since last month's number of 65. There are 6612 pending sales--down from 7281 at the end of July. There are currently 641 "coming soon" listings. Since August 1, 2024, there have been 5641 closed sales--down slightly from 5988 in July. Here are some stats
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 Market Update | May 2024
Housing inventory has increased slightly over the past month. As of May 31, 2024 there are 18080 active listings in Maricopa County. Let's dive into our Phoenix metro market update for May 2024. The active listings have been on the market an average of 80 days. We are seeing the days on market climb across most cities and towns. We are also seeing more seller concessions and price reductions. There are currently 8343 pending sales and 600 "coming soon" listings. The contract ratio, which is the number of under contract properties divided by the active listings is around 45%--this
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 | Nov 2023
Available housing has stabilized since our last report and as of December 12, 2023, there are 15630 active listings across the county. Let's jump into our Phoenix metro real estate update for November 2023. The active listings have been on the market for an average of 83 days. There are 6231 pending sales--down by about 500 units from September. This chart shows how the number of pending sales have changed over the past two years: There are 546 "coming soon" listings (also down since September) and since October 1, 2023, there have been 11,280 sales. Here are some MLS stats for
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
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