Phoenix AZ Real Estate Housing Market Report - August 2022

By
Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Phoenix AZ Real Estate Housing Market Report for August 2022:
 
The average sales price of Phoenix homes decreased for the third consecutive month, going from $621,346 in May to $559,619 in August. However, the average sales price of Phoenix homes has increased in 14 out of the last 19 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the third straight month as well, going from $317/sf in May to $299/sf in August. The Phoenix average sold price per square foot has only decreased 6 times in the last 31 months.
 
The Phoenix days on market increased for the third straight month after decreasing four straight months. The days on market increased from 24 in May to 38 DOM in August. The DOM to sell a home in Phoenix is still low, considering a balanced market would expect to see an average DOM closer to 90.
 
Click on the image below to read the full article and see what is going on in the Phoenix Arizona real estate market.
 
 

Feel free to reach out to me if you have any questions about buying a home, selling your home, or investing in the Phoenix, AZ or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me,
it's about making a difference in the lives of others"
       
Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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         Contact Troy Erickson, Realtor®, Good Company Real Estate

Licensed Residential Realtor® in Arizona at 602-295-6807

 

Reach out to me for all your Phoenix, Chandler, Ahwatukee, Tempe, Gilbert, and Scottsdale, Arizona Real Estate needs.

 

Check out our website for all Arizona Real Estate and Homes For Sale in subdivisions like Sun Lakes, Ocotillo, Lakewood, Mountain Park Ranch, Pepperwood, Circle G Ranches, and many others throughout the East Valley.

 

"Real Estate is more than just about a job for me. It is about making a difference in the lives of others. I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"

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This post is for informational purposes only and should not be construed as legal advice. If you desire specific legal or tax advice, please consult the appropriate professional. The opinions expressed here represent my own and not those of my employer. Troy Erickson will not be held liable for any errors, ommissions, accuracy, validity, currentness, suitability, completeness; or any losses, injuries or damages arising from its display or use.

Comments (8)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Troy I hope the buyers and sellers appreciate your market reports and will reach out to you for representation, Endre

Sep 17, 2022 09:30 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Wow Endre Barath, Jr., thank you! I hope any home buyer or seller in the East Valley appreciates this information as well and will reach out to me for representation.

Sep 17, 2022 09:46 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Thanks for sharing your market update.  Great information for buyers and sellers in your area.

Sep 18, 2022 02:55 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Phoenix home buyers and sellers are sure to value your real estate market report, Troy.

Sep 18, 2022 07:05 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Troy and thank you for sharing your market report with us in the Rain today.  Make it a great day!

 

Sep 18, 2022 09:30 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Richard Weeks, thank you for your support.

Sep 18, 2022 11:29 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks again Myrl Jeffcoat for always supporting my market reports.

Sep 18, 2022 11:30 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Will Hamm, I really appreciate your support of my market reports.

Sep 18, 2022 11:30 PM