Phoenix AZ Real Estate Housing Market Report - November 2022

Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Phoenix AZ Real Estate Housing Market Report for November 2022:
After increasing last month, the average sales price of Phoenix homes decreased in November, going from $555,437 in October to $535,194 this month. The average sales price of Phoenix homes has averaged around $555,000 the last four months, which is significantly lower than the all-time high of $621,488 that occurred this last May.

After remaining the same for the last two months the average sold price per square foot of Phoenix homes decreased this month, going from $289/sf in October to $278/sf in November. This is the sixth decrease in the last seven months.
The Phoenix days on market increased for the sixth straight month after decreasing the four previous months. The days on market has more than doubled from 24 DOM in May to 56 DOM in November. The DOM to sell a home in Phoenix is increasing, but a balanced market would expect to see an average DOM closer to 90.  Homes in Phoenix are still selling, but at a slower pace than the previous two years of frenzied activity.
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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Licensed Residential Realtor® in Arizona at 602-295-6807


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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 (6)

Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Have a productive December.

Dec 11, 2022 11:41 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Troy Erickson AZ Realtor (602) 295-6807  very similar to our market Days on Market increased and prices have dropped, Endre

Dec 11, 2022 11:24 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks so much Roy Kelley. Your support is greatly appreciated.

Dec 13, 2022 02:01 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thanks for sharing Endre Barath, Jr. Yes the market is shifting, but also this is the slow season.

Dec 13, 2022 02:02 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Dec 18, 2022 12:02 PM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thank you for such kind words Myrl Jeffcoat.

Dec 19, 2022 10:07 AM