September 2019 Snapshot Of The Greater Phoenix Area Real Estate

So how did the Greater Phoenix Area real estate market fare in September 2019? We got the numbers and we're doing a deepdive on them now!

Active listings are up with September 2019 posting 13,749 listings compared to the 13,319 recorded in August 2019. While active listings for September 2018 were higher at 16,829, homes spend less time on the market in September 2019 versus the same time last year as well as the past month.

New inventory, the number of closings, average sales price, listing success rate and sold to list price ratio all shared the same trend: they were higher in August 2019 versus September 2019, although the past month had better numbers in these areas compared to September 2018.

However, the current supply of inventory in September 2019 is expected to last slightly longer at 1.72 month from 1.50 month for August 2019; September 2018's inventory though was at 2.40 months.

Lastly, canceled/expired listings went up from 1,539 to 1,720 in September 2019, slightly lower from September 2018's 1771.

September 2019 Snapshot Of The Greater Phoenix Area Real Estate