Real estate market report for the greater Phoenix, AZ metro area.
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National Real Estate Statistics
The National Association of Realtors® reported the median single-family home list price in April 2019 was $267,300 which is up 3.6% from April of 2018 ($257,900).
Nationwide the total inventory at the end of April grew 1.7%, and unsold inventory also rose slightly to 4.2 months of supply.
Properties remained on the market for an average of 24 days nationally in April 2019, which was slightly lower than March’s average of 36, and down 26 days from April 2018.
“We see that the inventory totals have steadily improved, and will provide more choices for those looking to buy a home,” said Lawrence Yun, NAR’s chief economist. He also commented that sellers now need to understand that price growth has moderated, so “when placing their home on the market, home sellers need to be very realistic and aware of the current conditions.”
Maricopa County Statistics
Pinal County Statistics
Phoenix Metro Area Statistics
In the greater Phoenix metro area serviced by the Arizona Regional Multiple Listing System, ARMLS, the April 2019 median list price average was $270,000, which is an all-time high, and slightly higher than the April 2018 median, $268,000. The median sales price is expected to increase in May.
Days on market in the greater Phoenix area in April was 69, which is up +3 days from March 2018 at 66.
Inventory is down in the Phoenix metro area from 2.78 month’s supply in March 2019, to 2.43 month’s supply in April. Low inventory continues to drive price appreciation in most markets within the Phoenix metro area.
Month Year | Median Price | Average Price | Active | Under Contract | Sold | Months Supply | DOM |
Apr-19 | 270000 | 339900 | 23084 | 12536 | 9493 | 2.43 | 69 |
Mar-19 | 267,000 | 338,000 | 23164 | 11995 | 8344 | 2.78 | 72 |
Feb-19 | $264,000 | $326,800 | 23271 | 10843 | 6409 | 3.63 | 73 |
Jan-19 | $262,100 | $326,100 | 22903 | 9247 | 5357 | 4.28 | 72 |
Dec-18 | $262,000 | $326,000 | 20694 | 6441 | 6403 | 3.23 | 68 |
Nov-18 | $262,000 | $326,500 | 21477 | 8030 | 6515 | 3.3 | 64 |
Oct-18 | $262,000 | $324,300 | 21742 | 8307 | 7182 | 3.03 | 61 |
Sep-18 | $260,000 | $317,500 | 20200 | 8591 | 6897 | 2.93 | 63 |
Aug-18 | $263,000 | $322,800 | 19822 | 9193 | 8036 | 2.47 | 62 |
Jul-18 | $265,000 | $320,500 | 19755 | 9135 | 8380 | 2.36 | 60 |
Jun-18 | $268,000 | $333,600 | 20357 | 10618 | 9079 | 2.24 | 62 |
May-18 | $265,000 | $331,000 | 20676 | 11630 | 9913 | 2.09 | 63 |
Apr-18 | $ 254,000 | $ 322,000 | 21772 | 12309 | 8990 | 2.42 | 66 |
Mar-18 | $254,000 | $316,400 | 21703 | 12319 | 9402 | 2.31 | 72 |
Feb-18 | $252,500 | $308,000 | 21771 | 12161 | 6911 | 3.18 | 76 |
Jan-18 | $245,000 | $315,300 | 21664 | 10696 | 6082 | 3.56 | 77 |
Maricopa County Total Inventory vs New Inventory
- 12726,11845,10799,10203,9906,9837,10916,12325,13524,13334,13347,14249
- 6789,6266,6228,5949,5487,6226,6387,6632,5636,4268,7555,7160
Information is deemed to be reliable, but is not guaranteed. © 2024
Maricopa County Absorption Rate
The absorption rate is calculated by dividing the average number of sales per month by the total number of available homes. This shows the rate at which available homes are sold in a specific market during a given time period.
- 2.32,2.23,2.1,2.01,1.96,1.96,2.18,2.5,2.75,2.73,2.74,2.93
Information is deemed to be reliable, but is not guaranteed. © 2024
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