Housing Market Update April, 2016

Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

Prices continue to rise on a city wide basis.  As you can see from this chart, prices have risen dramatically since the bottom of the market in 2011. 

 Housing Market Price Per Sq Ft

Our month’s supply of inventory has just dropped to 2.5 months as of April 2, 2016.  Demand is picking up for our summer buyers.  We have seasonally different sales cycles with winter visitors purchasing, but most of our sales occur from March to September.   

 Months Supply Housing Market Update


Following a very strong March with 9,639 sales,  12% higher than last year.  The Fed has promised a couple of rate hikes this year, so that might be on some folks’ minds as we gear up for a busy summer season.   Canadians are now selling as opposed to be our #1 Foreign National buyer due to their dollar exchange.  The number of purchases for Canadians so far is just 110, the lowest number since 2007 and sold 562 so far this year (Cromford Report).

Price changes by category tell the big picture.  Again, courtesy of the Cromford Report. 

Sales in Phoenix

If you would like zip code information for your area in Maricopa County, please let me know! 


Supply in the lower end of the market has dropped and there are fewer homes to choose from, so a big decline in sales.   As prices have risen in the $225,000 plus market and equity is again in the bank, that segment up to $600,000, then $800,000 - $1 million has dramatically jumped.  

Price Changes by Category

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HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

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Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Jan Green knows the market in Scottsdale, Az.  She is with RE/MAX Excaliber Realty!

Apr 07, 2016 09:07 AM #1
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jan, great market update for Phoenix, and sure looks like you will be quite busy this spring & summer with a strong market!  

Apr 10, 2016 11:17 PM #2
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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