Phoenix, AZ Real Estate Market Report - Dec. 2016

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



The Phoenix, AZ real estate market rebounded a bit to close out 2016.  The number of homes sold in December was up 9% over November, and up 7% from last year. The year over year price increase continues to move in the right direction, although at a little less steep trajectory,  up 5% over December 2015. The 12 month moving average sale price is now $256,858, up 7% from the previous year and continuing to close in on our pre crash highs.  The number of homes on the market is 3,846, down 5% from November,  with the days on market at 68, (same as last year), and still within the benchmark of a seller's market.  The "Burn Rate" (pending sales/active listings) edged up to 3.04 months supply. The Phoenix, AZ housing market is stable, but continues to show signs of a slow down. 

Here are the latest stats for the month ending 12/31/16:

Active Listings: 3,846

Homes Pending: 1,884

Homes sold in last 30 days: 1,663 (Up 9% from Nov. '16, Up 7% from Dec. '15 )

Burn rate (Inventory on market / by homes currently under contract) =  3.04 months supply

Avg. Sale price (Solds): $257,282 (Dow 3% from Nov. '16, Up 5% from Dec. '15)

Avg. price per sq. ft. (Solds): $144.40 (Down 4% from Nov. '16, Up 7% from Dec. '15)

Avg. Days on Market (Solds): 68 (Up 6% from Nov. '16, Down 1% from Dec. '15)

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Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Great market information...thanks for sharing and have an amazing week!

Jan 09, 2017 07:59 AM #1
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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