April 2022 Housing Market Report

By
Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

Active listings have risen 21% year over year for April, 2022.  Homes are still selling quickly as Phoenix is a relocation, tourist and retirement destination.   With rising interest rates, some are being priced out of the homes they are interested in buying. 

April 2022 Phoenix Housing Market Report

 

Homes are still selling in record time!  This chart reflects that homes are taking 25 days to sell.  That's the same number of days it took to sell a house in Phoenix in June, 2021.   Record quick sales!

Average Days on Market April 2022 Phoenix Housing Report

Prices have not slowed down as the housing market continues to favor sellers.  This is a record high median sales price for the Phoenix Metro Area. 

Monthly Median Sales Price April 2022 Phoenix Housing Report

An early indicator of the existing listing inventory is when prices start to drop on existing listings.  There are a number of reasons that list prices are reduced.  The home may have been priced too high to begin with as home sellers still feel the market can bear a higher price.  Demand may be slowing.  More inventory means more choices for buyers.  The peak in 2021 for price reductions occurred September, 2021.  For 2020, the peak price reduction date is March,.  For 2019, March had the most price reductions.   

Price Reductions April 2022 Phoenix Housing Report

If you are someone you know is looking to relocate, buy an investment property or a second, vacation home, make sure to use a seasoned professional who understands the housing market.  

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Comments (5)

Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

May 11, 2022 05:16 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jan, goodness, look at the median sales price hike!   Great market update for Phoenix.

May 11, 2022 07:50 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Well, Jan, it looks as though you will have quite a busy year ahead of you.

May 11, 2022 10:06 AM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Jan and  our market continues to march on into summer.  Hold on to your cowboy hats folks!

May 11, 2022 10:35 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you for stopping by Joe Jackson !  

Oh yes Joan Cox , prices are out of sight.  I'm about to list a home that 2 years ago I told them $750,000, generously.  Now it's $1.2! 

Yes, crazy market Rocky Dickerson !

And the prices continue Anna Banana Kruchten CRS, Phoenix Broker !  Am off to the races this week. If the list price I'm predicting comes true, I'll have raised my highest ever list price!  Have a great week!

May 11, 2022 02:35 PM
Anna Banana Kruchten CRS, Phoenix Broker

Totally.  I just went through the Moon Valley Market and it keeps going up and up.  There are a few that priced too high and have come down, but just a few. The rest sell at list, close to list of over list with very few DOM.

May 11, 2022 02:39 PM