Take A Look At The November 2019 Snapshot Of The Greater Phoenix Area Real Estate
November 2019's numbers dipped between slight to worse from the figures posted by October 2019 but it fared a bit better when compared to the same month a year ago. Just take the new inventory for example- 7,635 homes went up for sale in November 2019 but the previous month had way more listings go on market with 9,863. A year ago, the month of November had only 6,080 new inventory.
Same story with the number of closings and listing success rate with October 2019 seeing 7,997 homes get sold for an 80.3% success rate and November 2019 posting less at 7,117 closed at 79.9%. November 2018 fared worse with only 6,498 homes going to new owners with a 64.2% listing success rate.
It's with active listings and sold to list price ratio though where the past month ended in third place to the other two months, with November 2019's posting 13,765 homes for sale with 97.7% sold to list price ratio versus October 2019's 14,630 with 98.1% and November 2018's 17,624 with 97.9%.
And while it recorded the lowest number in one category, it's actually a better performance since we're talking about canceled/expired listings. November 2019 saw 1,432 listings getting canceled or going expired while October 2019 had the slightly higher number at 1,577. Then there's November 2018 with 2,036 canceled/expired listings.
A higher average sales price of $357,825 might explain November 2019's lower figures when taking the previous month's $346,911 and last year's $327,513. Of course, spending 57 days on average on the market in November 2019 is a bit improvement from October 2019's 58 days but a welcome number when compared to November 2018's 67 days.
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Shanna Day Dream Home Team
Keller Williams Realty East Valley