Here's The June 2020 Snapshot Of The Greater Phoenix Area Real Estate!

Coming in hot this way is a short but sweet look at how the real estate market in the Greater Phoenix Area fared this past month. Even from a glance, the number of active listings is going to grab attention with June 2020 being the lowest at 7,642 compared to the previous month at 10,579 and the same time last year at 15,206. And listings spend more days on the market at 53 days average compared to May 2020's 48 days on average (but nevertheless better than June 2019's 63 days).

Then we come across June 2020's new inventory at 8,323 new listings. Although it's the lowest when you consider the figures for May 2020 at 8,331 listings and June 2019 at 9,163, it becomes a "Wait, what?" moment when you go back and take another look again at the number of active listings for June 2020. Then it becomes all clear when we get to June 2020's number of closings: 9,249 homes sold. That's a bit lower than the sales for the same month last year at 9,489 but when you see that May 2020 only sold 6,664 homes plus the active listings and new inventory that came in and you can't help but smile at how good a month June 2020 was for homesellers.

So it might come as no suprise that the average sales price for June 2020 rose to $370,971, the highest among the three months we're looking at with May 2020 at $353,964 and June 2019 at $350,633. On the other hand, we're looking at just 0.80 months supply of inventory for June 2020 whereas the month before that had 1.59 and the same time in 2019 was at 1.60.

Now why don't we end at not one but two high notes here? Because homesellers last month enjoyed a listing success rate of 85.6% (versus the 80.2% and 79.2% posted for May 2020 and June 2019, respectively) and sold to list price ratio at 98.7% (May 2020 was at 98.4% while June 2019 had 98.0%).

So jump off the fence if you've been sitting on it for some time... because NOW is the best time to SELL YOUR HOME! We've been selling homes fast and for top dollar in the "new normal"- and we can sell yours, too! Reach out ASAP if you want a team of East Valley real estate experts on your side!

Here's The June 2020 Snapshot Of The Greater Phoenix Area Real Estate!