Wow, what a year it has been for Phoenix Real Estate. Over the course of the last year beginning November 2011, Phoenix Real Estate was seeing the average sales price of $160,387. We also were seeing homes sale for a little under their asking price in the Phoenix area, usually about 1.5% under the list price. Days on market for Phoenix Real Estate in November 2011 was averaging about 80.2 days on market. Roll forward one full year in our Phoenix Real Estate cycle and the market has indeed shifted. In fact, you could argue that Phoenix Real Estate has improved, as is the case with Real Estate across the nation. November 2012 shows the average days on market for Phoenix Area homes to be about 61.1 days. Across the nation most realtors will agree that this would indeed be a sellers market, even though prices are still great for first time home buyers. Phoenix Real Estate saw the prices of homes in the area rise to an average of $205,342. Also interesting to note for you Phoenix home buyers, is that the average home sales were also selling at about .09% under the list price.
For all you home buyers and home sellers in the Phoenix area, hope this Phoenix Real Estate update for the Month of December 2012 has been beneficial. Regardless of whether you are buying or selling a Phoenix Home, it pays to know your numbers. Knowing about the Phoenix average home prices, Phoenix Home inventory, and days on market, it gives you more knowledge for how to best buy or sale you Phoenix Home.
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