Here is the most recent Phoenix AZ Real Estate Housing Market Report for September 2022:
The average sales price of Phoenix homes decreased for the fourth consecutive month, going from $621,395 in May to $548,478 in September. However, the average sales price of Phoenix homes has still increased in 14 out of the last 20 months.
After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the fourth straight month as well, going from $317/sf in May to $289/sf in September. The Phoenix average sold price per square foot has only decreased 7 times in the last 32 months.
The Phoenix days on market increased for the fourth straight month after decreasing four straight months. The days on market increased from 24 in May to 45 DOM in September. 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.
After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the fourth straight month as well, going from $317/sf in May to $289/sf in September. The Phoenix average sold price per square foot has only decreased 7 times in the last 32 months.
The Phoenix days on market increased for the fourth straight month after decreasing four straight months. The days on market increased from 24 in May to 45 DOM in September. 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 Realtor | Call/Text: 602-295-6807 | TroyEricksonRealtor@gmail.com
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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