Phoenix, AZ Real Estate Market Report - Sept. 2016

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


The Phoenix, AZ real estate market showed no marked improvement nor decline in the month of September.  The number of homes sold was down 7% from August, up 4% from last year. The year over year price increase showed improvement,  8% over September 2015. The 12 month moving average sale price continues to edge up, climbing to $252,404, up 7% from the previous year and inching closer to our pre crash highs.  The number of homes on the market is 3,906, almost identical to August,  with the days on market at 63, up 2% from last year, and still within the benchmark of a seller's market.  And the "Burn Rate" (pending sales/active listings) remained identical to August at 2.58 months supply. The Phoenix, AZ housing market is still stable, but there are still signs of a slow down. Stay tuned for future reports.

Here are the latest stats for the month ending 9/30/16:

Active Listings: 3,906

Homes Pending: 2,468

Homes sold in last 30 days: 1,687 (Down 7% from Aug. '16, Up 4% from Sept. '15 )

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

Avg. Sale price (Solds): $258,783 (Up 2% from Aug. '16, Up 8% from Sept. '15)

Avg. price per sq. ft. (Solds): $143.76 Up 3% Aug. '16, Up 9% from Sept. '15)

Avg. Days on Market (Solds): 63 (Down 7% from Aug. '16, Up 2% from Sept. '15)

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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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