Take A Look At The Greater Phoenix Area Real Estate Market Snapshot For July 2021!

Did you miss our monthly real estate market snapshots for the Greater Phoenix Area? Well our market snapshots are back with residential data for the month of July 2021!

While still below the previous year's 7,435 listings, active listings have increased the past month from 5,002 home for sale to 6,226 properties up on the market. But what's impressive is that new listings in July 2021 reached 10,347, up from 10,114 homes listed in June 2021; July 2020 didn't even break the 10K mark with just 9,706 new inventory. Supply is now expected to last 0.72 months, a bit closer to the same time last year at 0.75 months and a notable jump from the 0.52 figure posted a month prior.

But what about the sales figure, you say? Well sales for July 2021 reflected 8,605 closings sold at an average of $503,884 spending 26 days average on the market at an 89% listing success rate. June 2021 remained the better month at 9,682 sold homes for an average sales price at $512,743 with 25 days average backed by a 98% listing success rate. Now July 2020 might have sold more homes with 9,917 properties changing hands but sellers at that time had to be patient with 52 average days on the market and be contented selling at an average of $395,542 with an 88% listing success rate. Sold to list price ratio also dipped a bit to 101.7% from 101.8% but that's still better than July 2020's 98.6%.

So what does this mean for you, the homeseller? Time's a-changing and the signs haven't been clearer now. So before the market shifts back closer to how things were a year ago, get your home ready to be listed and draw up a gameplan with your local specialists to maximize your chances of selling in the soonest time possible at top dollar. Reach out to your local specialists The Shanna Day Team at 480-415-7616- we'd love to hear from you!

Take A Look At The Greater Phoenix Area Real Estate Market Snapshot For July 2021!