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Phoenix Real Estate is on Fire!

Over the last year, Phoenix Metro Real Estate has seen an increase in 3 major categories. Active listings for sale are up 4.4% with 20,487 homes on the market ready to be bought. So, unless you are looking for a property in the lowest price range, which I would say is $200,000 and under, there is a decent amount of inventory on the market. Listings under contract is up 5.5% with a total of 11,466 - to say we have hit our 'season' for home sales is an understatement. These figures have caused our average days on the market to decrease by 3 down to 75. Lastly, the monthly median sales price has risen a whopping 7% to $230,000. Therefore, as prices rise, Buyers will adjust what they buy in terms of size and location to align with their budget.

What does all of this mean for you - well, we are in a good market for both Buyers and Sellers. Interest rates are still at super low levels and our median sales price is still in an affordable range. Sellers, when pricing the home properly, are seeing good amounts of showings, which are converting into offers. Of the listings that come off of Active or Pending status, 76.6% successfully closed escrow while 23.9% cancelled or expired.

Like what you are reading? Friends don't let Friends choose an agent who is not on top of the market! If you or someone you know is looking at real estate in Phoenix, give me a call!

Contact Us

Brokers Hub Realty

4700 N. 12th Street #222,

Phoenix, AZ 85014

Phone. 602-214-3881

Email. jenn@jennjenkins.com