Real estate market statistics courtesy of Arizona Regional MLS, Market Stats. The Phoenix Housing Statistics are through January, 2018. As you can see, year over year we're up in sales 2.5% for Maricopa County, even though the monthly total is down.
New listings are up slightly, but our total inventory is still very simiilar to last year, lower than 2017 in total. Similar seasonal patterns show pretty much the same activity.
Notice the total inventory year over year here is down 11%, putting upward pressure on prices.
The Months Supply of Inventory is currently 3.56, meaning that if nothing else came on the market for sale it would take three and a half months to sell the current inventory.
New Listing prices are up, as you could guess from the above graphs.
Prices have risen as well. Notice the difference in Average and Median Price. Average prices takes all prices into effect, into the millions and lower end; Median Prices exclude the very high prices and are a bit more realistic for most sales. Both prices are reflected here as a comparison.
In the current market, sellers have the upper hand in the lower price ranges. Buyers have more inventory to choose from in the higher price ranges. For specific zip code and city reports,