Real Estate Statistics March 2023 Phoenix Arizona

April 29, 2023 By Nathan Mitchell

Real Estate Statistics March 2023 Phoenix Arizona - Hunter Clark and Nathan Mitchell - March STAT cover graphic.

Recapping March 2023 Sales Data for Phoenix, Arizona Real Estate Market

Monthly Home Sales Data for Phoenix, Arizona

Real Estate Statistics March 2023 Phoenix Arizona - Sales are up 32.8% month over month at 7417 units, down 22.1% year over year.

New Inventory

Real Estate Statistics March 2023 Phoenix Arizona - New inventory 7771 units, a month over month increase of 9.9%, a decrease of 19.1% year over year.

Total Inventory

Total inventory is 16922 - a month over month decrease of 6.9%, a year over year increase of 99.3%

Actives vs. UCB/CCBS

March UCB total inventory was 17.4%, CCBS at 2.7% of total inventory.

Months Supply of Inventory

Real Estate Statistics March 2023 Phoenix Arizona - - Months supply of inventory was 2.28

New List Prices

Average new list prices are up 2.5% year over year. Median year over year down 4.3%.

Sales Prices

Average sales price is down 5.6% year over year, median sales price down 8.7% year over year.

Sales Price Forecast

An increase is predicted for April for both average and median sales prices.

Distressed Homes / Foreclosures Pending

Foreclosures pending month over month increased 6.4%, year over year up 19.5%.

Distressed Sales

Distressed sales accounted for .2% of total sales.

Average Days On Market

Real Estate Statistics March 2023 Phoenix Arizona - Average days on market were 77, up 45 days year over year, down 5 days month over month.

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About Nathan Mitchell

Co-Founder of Desert Premier Realty Group. Real Estate Broker in Phoenix, Arizona. Striving to educate home buyers and sellers to help them make confident and informed home buying/selling decisions.

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