ALL DATA BELOW IS PROVIDED BY ARMLS®, COPYRIGHT 2021
ALL DATA BELOW IS PROVIDED BY ARMLS®, COPYRIGHT 2021
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 continue to be steady, measuring out at 11,859 units in May.
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.
We’re still hovering at half a month’s worth of inventory, as buying demand remains steady.
ALL DATA BELOW IS PROVIDED BY ARMLS®, COPYRIGHT 2021
Down slightly month over month, sales are up by 2,392 year over year.
Up by 1,170 listings month over month.
Total inventory is also up month over month. Roughly 1,000 listing higher than March.
Home buying continues its steady pace.
The median list price stayed close to the March number of $458,245.
The median price for April continued on it’s steady climb, up $15,000 from March.
With such low housing inventory, the months supply of homes was at .5, meaning we have enough homes on the market to meet the needs of homebuyers for half a month. We’ll need to see high levels of new home listings to meet buyer demand.
Sales are up 8.2% month over month. The year over year comparison is up 5.2%.
New inventory is up 0.1% month over month. The year over year comparison decreased by 11.7%.
Total inventory has a month over month decrease of 7.7%. The year over year reflects a decrease of 43.8%.
February UCB listings percent of total inventory was 48.9% with February CCBS listings at 3.7% of total inventory.
Months supply of inventory for January was 1.34 with February at 1.14.
Average new list prices are up 14.1% year over year. The year over year median is up 14.3%.
The average sales price is up 22.3% year over year. The year over year median is up 18.6%.
An increase is forecasted in March for both average and median sales prices.
Foreclosures pending month over month showed a decrease of 6.2% while the year over year was down 51.8%
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.
Days on market were down 23 days year over year. Month over month went down by 3 days.
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