Phoenix Metro Arae Housing Market Update 8/30/17

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

This market report is for all of the data on the Arizona Regional MLS, encompassing all of the Phoenix Metro Area.  

 

New Inventory is up by 4.7% year over year as of August 30, 2017. As of this writing inventory has ticked upward slight as new listings  are coming on the market but will slow as the holidays loom in the coming months, a common slow down. 

New residential Inventory homes 8-30-17

Total inventory year over year is down for the year by 9.4%, putting upward pressure on prices. 

Total inventory 8-30-17

The Months Supply of homes for sale has dipped slightly to 2.65 months, so that if nothing else was listed for sale, it would take 2.65 months to sell everything.  Not very long! 

Months Supply of Inventory 8-30-17

List prices have ticked upward last month.  You can see that the difference year over year is slight monthly as of 8-30-17, but up 7.4% annually.

List Prices 8-30-17

Sales price per square foot has increased a healthy 9.4% year over year.  We are still considered a normal, balanced market; however with such low inventory, multiple offers are common place for homes priced well and in good condition.  Price ranges under $400,000 are more likely to experience multiple offers. 

Sales price per sq ft 8-30-17

If you are interested in data by zip code and price range, please contact me.  If you are looking to buy or sell a home in the Phoenix Metro Area, give me a call .  

Posted by

Search the Arizona Regional MLS

Search for Homes

      

 

HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

(602) 620-2699   DIRECT

www.AZGreenRealty.com

www.GotGreen.info                  facebook   Google + twitter   youtube   linkedin   pinterest   

 

Comments (1)

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

It's a good sign that inventory is increasing in the Phoenix Metro area. We're not seeing that yet, especially in our condo markets where inventory is low, low, low!

Sep 18, 2017 04:06 AM