Real Estate Statistics May 2021 Phoenix Arizona

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

ALL DATA BELOW IS PROVIDED BY ARMLS®, COPYRIGHT 2021

Monthly Home Sales Data for Phoenix, Arizona

Total monthly home sales are down month over month. This is a seasonal pattern of decline that we see almost every year.

New Inventory

New inventory is down slightly month-over-month.

Total Inventory

Our total inventory for the Phoenix real estate market is down month-over-month, after a slight and hopeful tick upward in April.

Homes Under Contract

Homes under contract continue to be steady, measuring out at 11,859 units in May.

Months Supply of Inventory

The median list price in the Phoenix area jumped considerably month-over-month to $489,00. This is an indication that there is still low supply and high demand in Arizona.

New List Prices

The median sales price, measured at $390,000, continues to climb as the Valley struggles with it’s low housing inventory.

Supply vs. Demand

We’re still hovering at half a month’s worth of inventory, as buying demand remains steady.