Phoenix is the capital and largest city of the U.S. state of Arizona, as well as the fifth most populated city in the United States. Phoenix is home to 1,601,587 million people according to the 2009 estimate by the U.S. Census Bureau, and is the anchor of the Phoenix metropolitan area (also known as the Valley of the Sun), the 12th largest metro area by population in the United States with over 4.3 million people. In addition, Phoenix is the county seat of Maricopa County, and is one of the largest cities in the United States by land area.
Active Listings
The past month ended with 7,924 active listings, a 4% increase from 7,630 in the prior month, and UP from 12 months ago of 6,151.
Sales Per Month
The rate of sales per month changes dramatically over time. The current period results was at 1,441 compared to 1,554 one month ago, a decrease of 8%. Last year at this time the number was much higher at 1,988 per month. Two years ago the sales rate was also down at only 1,138.
Month's Supply
We see currently a 5.6 month's supply of homes for sale in the city. This is the highest number in the past year. Last month reported in at 4.6 months supply; prior year end was at 3.0. The market has slowed down in the past year and inventory RISING.
Median Sales Price
The median sales price at the end of April was $105,000 - down 5% from the $112,000 range in the prior month, and down from $110,000 a year ago. As a minor point of reference, the average sales price was $175,000 two years ago.
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Bryan Watkins sells real estate in Phoenix Arizona, as well as neighbor cities like Tempe, Chandler Gilbert and Mesa. SEARCH the official MLS just the same as Agents do at www.LRARealEstate.com today. The information is believed to be accurate but not guaranteed. Some info courtesy of Wikipedia and the Cromford Report.
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