Metro Phoenix Real Estate Market Update - November 2016

By
Real Estate Agent with The Barton Group Revelation Real Estate

 476 S Seawynds Boulevard, Gilbert, AZ 85233

Strong Phoenix Metro Home Sales

The holiday season is here! Hope you and your family's Thanksgiving celebration was stuffed with happiness. The weather has cooled but Phoenix Metro home sales is still on fire, at least compared to 2015 figures. Per the latest sales data presented by the Arizona Multiple Listing Service, total home sales in October 2016 ended at 6,981 units,  a 10.7% increase compared to last year.  Sales are down by 4.7% vs last month, which is something normal and expected due to seasonal patterns in the real estate market. Go here to continue reading about the latest market statistics: Nov 2016 Metro Phoenix Real Estate Market Update.


 

Phoenix Metro Real Estate Report Summary

market summarySales are Up. 6,981 units sold, +10.7% year-over-year, down -4.7% month on month

Inventory Up. Months supply of inventory for September was 3.29 with October currently at 3.59.

Home Prices Rise. October saw a jump in median sales price to $229,900. The median price of homes sold in Oct 2016 is up 7.9% from the previous year's $213,000.

It takes more time to sell your Arizona home. 76 days on the average, +3 days more when compared to last year's figures, +2 days more compared to September 2016.



Find Homes for Sale in SouthEast Valley AZ

Visit my website to see the latest homes for sale in Chandler, Gilbert, Mesa, Queen Creek or to be notified when SE Valley homes come on the market.

To find out what your home is worth in the current market checkout our free Instant home value estimator or Contact Us for a personalized valuation.

Blended market statistics may not reflect the true state of the market in a specific area. If you are looking to buy or sell a home in Chandler, Mesa, Gilbert and Queen Creek, contact us to see detailed market reports in the neighborhood where you are considering selling or buying. 

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Aug 2016 Metro Phoenix Real Estate Market Update

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Arizona Maricopa County
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
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Thank you for an informational post on your local market.

Nov 27, 2016 04:37 PM #1
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

thanks for keeping us up to date on what is going on in your area - it is always helpful when talking to clients that we know more than just our own region! 

Nov 28, 2016 06:22 AM #2
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Tina Barton

10+ Years Selling SE Valley Real Estate
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