Phoenix, AZ Monthly Market Report - Nov. 2016

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




 

The Phoenix, AZ real estate market continued to hit the brakes a bit the month of November.  The number of homes sold was down again, -8% from October, but up  27% from last year. The year over year price increase continues to move in the right direction, although at a little less steep trajectory,  up 10% over November 2015. The 12 month moving average sale price is now $255,706, up 7% from the previous year and inching closer to our pre crash highs.  The number of homes on the market is 4.039, down 2% over October,  with the days on market at 64, same as last year, and still within the benchmark of a seller's market.  The "Burn Rate" (pending sales/active listings) edged up to 2.84 months supply. The Phoenix, AZ housing market is stable, but there are still signs of a slow down. Stay tuned for future reports.

Here are the latest stats for the month ending 11/30/16:

Active Listings: 4,039

Homes Pending: 2,197

Homes sold in last 30 days: 1,529 (Down 8% from Oct. '16, Up 27% from Nov. '15 )

Burn rate (Inventory on market / by homes currently under contract) =  2.84 months supply

Avg. Sale price (Solds): $265,018 (Up 3% from Oct. '16, Up 10% from Nov. '15)

Avg. price per sq. ft. (Solds): $151.09 (Up 6% from Oct. '16, Up 14% from Nov. '15)

Avg. Days on Market (Solds): 64 (Down 6% from Oct. '16, Same as Nov. '15)

To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: jwmurphy@longrealty.com

To search Phoenix homes for sale please visit: www.JWMurphy.LongRealty.com

Like us on Facebook at: https://www.facebook.com/Jerry-Murphy-PhoenixScottsdale-Area-Real-Estate-Agent-154855641299985/

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Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Home buyers and sellers in your market area will appreciate this information.

Dec 03, 2016 04:32 AM #1
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Rainmaker
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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