Phoenix, AZ Real Estate Market Report - Aug. 2016

Real Estate Agent with Long Realty West Valley AZ RE Lic. #SA560004000

The Phoenix, AZ real estate market continued it's downward trajectory through the month of August.  The number of homes sold was up only 1% from July, but up 11% from last year. However the year over year price increase continued to narrow, only 4% over August 2015. The 12 month moving average sale price continues to edge up, climbing to $250,795, up 7% from the previous year and inching closer to our pre crash highs.  The number of homes on the market is 3,902 with the days on market at 68, up 8% from last year, and still within the benchmark of a seller's market.  The Phoenix, AZ housing market is still strong, and stable, but showing some signs of a slow down. Stay tuned for future reports.

Here are the latest stats for the month ending 8/31/16:

Active Listings: 3,902

Homes Pending: 2,465

Homes sold in last 30 days: 1,821 (Up 1% from July '16, Up 11% from Aug. '15 )

Burn rate (Inventory on market / by homes currently under contract) =  2.58 months supply

Avg. Sale price (Solds): $253,564 (Down 3% from July '16, Up 4% from Aug. '15)

Avg. price per sq. ft. (Solds): $140.11 (Down 1% July '16, Up 8% from Aug. '15)

Avg. Days on Market (Solds): 68 (Up 6% from July '16, Up 8% from Aug. '15)

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Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Buyers will appreciate your Phoenix market report. Nicely done!

Sep 06, 2016 04:17 AM #1
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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