With the end of the year approaching, it’s time for our 2017 YTD Maricopa County Real Estate Update. Let’s to do this.
The key number for agents is the active listing inventory–this is the number of all homes, condo’s, town homes, etc available–that number is approximately 17,800–a 700 unit decline from last months already low figure. A decline at the end of the year is not unusual because many folks hesitate to list their home for sale in December. We expect inventory to begin to rise again around mid-January.
The average days on market for active listings has dropped slightly to 118 days and the average days on market for all sold homes in the past 30 days is just 67 days–what does this mean? Demand has picked up a bit in the past month–this is great news. Over the past 30 days, there have been approximately 7400 sales across the county.
This chart shows Market Activity YTD:
This chart shows the Average Days on Market YTD:
This chart shows the Median Sale Price YTD:
Overall, we’ve had a good year in terms of real estate activity across the county and also a good year in terms of appreciation. The Phoenix Metro market has gone from one of the worst in the country to one of the best and it’s predicted by national economists that 2018 will be a strong year for Arizona real estate. Gordcollins.com predicts that 2018 will be a great year for sellers and a bit tougher for buyers–this is primarily due to inventory shortages in many markets and financing obstacles. We are experts at finding homes, even in tight inventory markets–if you need help finding a home or selling a property, contact one of our outstanding agents today. If you need help with financing, we work with some of the best loan officers in the country–Get a home loan today.