Phoenix Housing Market Statistics

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Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000
http://activerain.com/droplet/5b4F

Real estate market statistics courtesy of Arizona Regional MLS, Market Stats.  The Phoenix Housing Statistics are through January, 2018.  As you can see, year over year we're up in sales 2.5% for Maricopa County, even though the monthly total is down. 

 

January 2018 Sales

New listings are up slightly, but our total inventory is still very simiilar to last year, lower than 2017 in total.   Similar seasonal patterns show pretty much the same activity. 

New Listings January 2018

Notice the total inventory year over year here is down 11%,  putting upward pressure on prices. 

Total Inventory January 2018

The Months Supply of Inventory is currently 3.56, meaning that if nothing else came on the market for sale it would take three and a half months to sell the current inventory. 

Months Supply January 2018

New Listing prices are up, as you could guess from the above graphs.  

 

New List Prices January 2018

Prices have risen as well.  Notice the difference in Average and Median Price.  Average prices takes all prices into effect, into the millions and lower end; Median Prices exclude the very high prices and are a bit more realistic for most sales.  Both prices are reflected here as a comparison.

Sales Prices January 2018

In the current market, sellers have the upper hand in the lower price ranges.  Buyers have more inventory to choose from in the higher price ranges.  For specific zip code and city reports,

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Rainmaker
2,588,123
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Jan Green and thanks for your information, I have a friend that is not sure when to look down there.

Feb 26, 2018 09:40 AM #1
Rainmaker
884,368
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Hey Will Hamm !  Now is a good time.  Prices are still rising.  I guess it depends on his price range.  Some areas are seeing longer days on market due to the area, so in some places it's better than others.  Our area is about 500 square miles, so LOTS of areas to choose from.  What he wants to be close to dictates!  I'm all over town at this point.  Selling in Tempe, Scottsdale, New River, so that span is 45 miles apart!  I'm currently flipping a home in Central Phoenix, that should fly off the shelves at about $375,000.  

Feb 26, 2018 09:48 AM #2
Rainmaker
1,522,697
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Jan - I am sure the wide area you cover has many variations.

Feb 26, 2018 11:34 AM #3
Rainmaker
884,368
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

You are so right Grant Schneider !  We everything from shacks all the way up to $20 million listings in Scottsdale and Paradise Valley!  Thanks for commenting and have a great day!

Feb 26, 2018 11:43 AM #4
Rainmaker
577,746
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

Thank you for the market report in Phoenix.  Always interested to know how the real estate market is doing in different sections of the country.  Orlando still has a lower inventory and yes, prices are definitely rising.  It is an excellent time to purchase while interest rates are still low.  Wishing you a wonderful day,  Jan Green -  You are fortunate to have a nice territory in Arizona.

Mar 13, 2018 04:06 PM #5
Rainmaker
884,368
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Jane Chaulklin-Schott ! It's a great time to buy and sell with good interest rates, too.  I bet your market is similar to ours!  Thanks for stopping by!

Mar 13, 2018 05:17 PM #6
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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