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 is down slightly month-over-month.
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.
New List Prices
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.
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.