October 2019 Snapshot Of The Greater Phoenix Area Real Estate

A new month is in and a new real estate market snapshot is out. Here's a rundown of how the Greater Phoenix Area's real estate market for October 2019 fared in the past month.

While October 2018 had better numbers at 18,333 active listings with 60 days spent on average on the market and 2.50 months supply of inventory, October 2019's 14,630 active listings with 58 days and 1.83 months supply is an improvement from the 13,749, 57 days and 1.72 months posted in September 2019.

October 2019 reigned supreme though versus the past month and the same time a year ago when it comes to new inventory, number of closings, average closings and listing success rate. October 2019 hits the record books with 9,863 listings added reigned supreme with 7,997 closed listings, $346,911 average sales price and 80.3% listing success rate. Only the sold to list price ratio deviated with both October and September 2019 posting 98.1%.

And while most of October 2019's numbers are up, it's down in one area- but in a good way. It's 1,577 canceled/expired listings is a welcome development compared to 1,720 and 2,056 recorded in September 2018 and October 2019, respectively.

October 2019 Snapshot Of The Greater Phoenix Area Real Estate