Every month, ARMLS® publishes their data and analysis of the Phoenix Metro housing market. It provides insights into trends, indications and predictions. Take a look at a graphical analysis of the market’s current trends.
There were a total of 7,659 sales in the month of April. An increase in 14.1% over March. However down 12.5% from April of last year.
There have been 10,027 new homes added to the market during the month of April. A decrease of 5% over March. However this is a 1.6% increase of April of last year.
There are a total of 29,267 homes on the market in Phoenix as of the beginning of May. That number is down just 1% from March. However it is up a whopping 47.5% over last years number of 20,083.
The average list price for a home hitting the market in Phoenix is at $302,100. That is a 6.6% increase over last years price of $283,500. The median price of a new listing is $223,000. That is a 14.4% increase over last years price of $195,000.
The average sales price of a closing home in April was $250,600. That is a 10% increase over last years price of $227,900. The median sale price of a home in April was $189,000. That is an increase of 9.9% over last years price of $172,000.
The average sales price for May is predicted to fall by 1.5% to around $247,000. The median sales price for May is predicted to increase by .5% to around $190,000.
The total number of foreclosures pending in Phoenix at the beginning of May is 4,693. That is a huge decrease of 50.2% over last years number of 9,424.
The average home spent 82 days on the market during the month of April. That is a 17.1% increase over last years number of 70 days on the market.
For a more detailed analysis and explanation of these numbers visit the original post at ARMLS.