Phoenix Housing Market Update - June, 2018

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

The Phoenix Housing Market Update for June, 2018 is provided with charts from the Cromford Report®.  Reports are by subscription.  To sum up the results from our graphs, we have low inventory, quick sales and rising prices - mirroring national sales results! 

 

Active Lisings in Phoenix have dropped by 11% year over year.  Inventory has dropped 32% since June, 2014! 

 

Phoenix Housing Market Update June 2018

Understanding inventory vs. supply, the following chart shows how long it will take to sell the current inventory. 1.5 months.  That's down slightly from 1.8 months for June, 2017; and down from 3 month supply in June 2014. 

 

Months Supply June 2018

 

So what about prices?  As you can see, prices have risen since the bottom of the market in 2011!    Year over year, we've seen 8% appreciation from $245,000.  Since April, 2011, prices have risen 60% to $265,000 for all of Metro Phoenix. 

 

Monthly Median Sales Price June 2018

So how long does it take to sell this low inventory?  58.82 days to be exact! This is only second to August, 2013 when homes were selling 58.73 days. Almost miniscule results.  

Average Cumulative Days on Market June 2018

All of this is not as surprising as the number of people moving to Maricopa County.  Maricopa County, Arizona saw the biggest populaton gain of any countyin the US!  

 

If you're looking for a real estate agent that is caring, compassionate, and has relocation experience, give me a call! 

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Rainmaker
635,557
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good day 

Thank you for sharing your information with us 

Have a great day.

Jun 15, 2018 05:51 PM #1
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you for commenting Anthony Acosta - ALLATLANTACONDOS.COM !  Have a great weekend :)

Jun 15, 2018 10:24 PM #2
Ambassador
2,214,488
Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Jan, some great graphs and info and are we ready in the next 1-2 years for another downswing in our market?

Hope your having a wonderful Father's Day with family and friends.

Jun 17, 2018 01:59 PM #3
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Robert Vegas Bob Swetz !  Nope - no family in Arizona.  Hope to spend time with family later today.  Have a wonderful Sunday and if you're a father, Happy Father's Day!

Jun 17, 2018 02:13 PM #4
Rainmaker
2,861,473
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 & Home Sale Specialists

We are facing the same low inventory here on Long Island too. Buyers and sellers will appreciate your Phoenix Housing Market Update!

Jun 21, 2018 07:35 AM #5
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you for stopping by and commenting Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 !  I can bet your market is similar to our Scottsdale market.  

Jun 21, 2018 11:57 AM #6
Rainmaker
1,747,025
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jan Green - Great Agents know how important market trends are to consumers and prospective buyers. You did a great job on every level!!!

Jun 22, 2018 09:36 PM #7
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Patricia Feager !  I had a post written today and bam, gone!  Next!

Jun 22, 2018 09:46 PM #8
Rainmaker
1,747,025
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jan Green - It happens...  

Resilience in real estate. That's what it takes to survive and you're doing great!

Jun 22, 2018 09:52 PM #9
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thanks Patricia Feager !  Wow, the trifecta comments tonight!   Thank you for your positive comments :)  You're a doll!

Jun 22, 2018 10:03 PM #10
Rainmaker
3,566,449
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jan, great market update for the Phoenix real estate market, and sure looks like it is HOT.

Jul 03, 2018 06:41 AM #11
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

It certainly is Joan Cox !  I just ran some other reports for individual cities.  It's ineresting that DOM ticked up for Phoenix, but down for Scottsdale.  Have a great 4th of July Holiday!

Jul 03, 2018 07:41 AM #12
Rainmaker
1,546,482
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good moring Jan - not surprising that Maricopa County has the fastest growth.  It is also a great place to retire or have a second home.

Jul 09, 2018 08:14 AM #13
Rainmaker
889,229
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you for reviewing Grant Schneider !  The funny thing is that we're also a great summer destination.  Resorts and golf courses drop their prices significantly and make staying her very affordable in the summer.  We have lots of new attractions that are indoors, making it even more fun :)  Have a great week!

Jul 09, 2018 08:35 AM #14
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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