Here's A Good Look At The Greater Phoenix Area Real Estate Market Snapshot For December 2020!
The last month of 2020 capped off a year that might be remembered for a while for hosting quite an exciting period marked by low inventory and low interest rates. While the 7,787 new listings for November 2020 was a bit higher than the 7,635 properties December 2019 posted, December 2020 went below further with only 6,599 new listings coming in for the month.
Last month's active listings then unsurprisingly only registered 5,356 properties expected to last 0.56 months. The month prior had 6,635 listings up on the market for 0.85 months while the same month from the previous year continue to remind us of a different time with an inventory of 13,765 homes for sale good for 1.93 months.
And while listings spend an average of 40 days on the market in December 2020 (up from 38 days in November 2020 but definitely better than the 57 days back in December 2019), there were 9,548 closings for that month. A superior showing when you consider that the month before had 8,759 properties sold and a year ago there were only 7,117 closings in the same month.
Have we mentioned that those homes sold in December 2020 were to the tune of an $434,895 average sales price? Good times indeed especially when you take note that November 2020's average sales price was at $422,064 and December 2019 had a $357,825 average.
And like what we've always said in our little corner of the real estate blogosphere, you better act now instead of later if you're thinking of reaping the rewards of selling your home while we're in this crazy exciting period for real estate. There is a slight downturn in the listing success rate from 88.3% to 88.1% and sold to list price ratio from 99.0% to 98.8%. And while dipping into those figures aren't as alarming like say the 79.9% and 97.7% respectively from December 2019, that little bit of movement should compel you to make a move if you want to maximize your profits from the sale of your home.
And what better time than now to get you ready for homeselling success with a team of local specialists in your corner! Reach out to The Shanna Day Team at 480-415-7616 and let's get started this early in the New Year!
If you have any topics or questions you would like answered, contact The Shanna Day Dream Home Team - we’ll find the answers for you!
Shanna Day Dream Home Team
Keller Williams Realty East Valley