The average sold price per square foot of Phoenix homes increased for the first time in 9 months. The average sold price per square foot of Phoenix homes has gone from $274/sf in January to $279/sf in February.
The Phoenix days on market increased for the 9th straight month after decreasing the four previous months. The days on market has almost tripled from 24 DOM in May to 81 DOM in February. 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.
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.
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