Phoenix, AZ Real Estate Market Report - Apr. 2018

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


The Phoenix, AZ real estate market activity fell off a bit in April, with prices slipping too.  The number of homes sold was down 6% versus March and flat from last year. The average sale price was down 1% versus March, and up 9% over April 2017. The number of homes on the market increased by 4% versus March, but is still down 7% versus last year.  The 12 month moving average sale price, now at $281,324 (up 7% from the previous year), continues to edge up.  The days on market is at 59, down 9% from last year and well within the benchmark of a seller's market.  The "Burn Rate" (pending sales/active listings) decreased slightly to 2.29 months supply.  The price per square foot remained pretty much the same in April,  but up 7% from last year. Pending sales in April were 2,716 foreshadowing a moderate report as we continue to plow through our selling season for the Phoenix, AZ housing market. 


Here are the latest stats for the month ending 4/30/18:

Active Listings: 3,511 (Up 4% from Mar. '18, Down 7% from Apr. '17)

Homes Pending: 2,716 (Up 11% from Mar. '18, Down 12% from Apr. '17)

Homes sold in last 30 days: 2,078 (Down 6% from Mar. '18, Same as Apr. '17)

Burn rate (Inventory on market / by homes currently under contract) =  2.29 months supply

Avg. Sale price (Solds): $291,393 (Down 1% from Mar. '18, Up 9% from Apr. '17)

Avg. price per sq. ft. (Solds): $161.50 (Same as Mar. '18, Up 7% from Apr. '17)

Avg. Days on Market (Solds): 59 (Down 9% from Mar. '18, Down 12% from Apr. '17)

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Michelle Carr Crowe,Altas Just Call...408-252-8900!
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Thanks for sharing about this local property and your market area.

May 26, 2018 10:55 PM #1
Linda Grille
Carl Mosley - Ashland, KY
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Linda Grille

Jun 26, 2018 07:44 AM #2
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Jerry Murphy, CRS, SRES

Anthem, Phoenix, and Scottsdale AZ Real Estate
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