Real Estate Statistics March 2021 Phoenix Arizona

Recapping February, 2021 Sales Data for the Phoenix, Arizona Real Estate Market

Monthly Home Sales Data for Phoenix, Arizona

Sales are up 8.2% month over month. The year over year comparison is up 5.2%.

New Inventory

New inventory is up 0.1% month over month. The year over year comparison decreased by 11.7%.

Total Inventory

Total inventory has a month over month decrease of 7.7%. The year over year reflects a decrease of 43.8%.

Actives vs. UCB/CCBS

February UCB listings percent of total inventory was 48.9% with February CCBS listings at 3.7% of total inventory.

Months Supply of Inventory

Months supply of inventory for January was 1.34 with February at 1.14.

New List Prices

Average new list prices are up 14.1% year over year. The year over year median is up 14.3%.

Sales Prices

The average sales price is up 22.3% year over year. The year over year median is up 18.6%.

Sales Price Forecast

An increase is forecasted in March for both average and median sales prices.

Distressed Homes / Foreclosures Pending

Foreclosures pending month over month showed a decrease of 6.2% while the year over year was down 51.8%

Distressed Sales

Distressed sales accounted for 0.4% of total sales, up from the previous month of 0.3%. Short sales dropped 50% year over year. Bank owned sales dropped 24.2% year over year.

Average Days on Market

Days on market were down 23 days year over year. Month over month went down by 3 days.

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