Phoenix and East Valley AZ Real Estate Market Report December 2018
The number of new listings decreased a whopping 29.5% from 8,183 last month, to 5,771 in December. This is a very significant drop, but very typical for the last month of the year. New listings in December of 2017 were 5,950, making this December just 3.0% lower than last December. The total number of active listings dropped to 16,623 this month, after increasing for four straight months. This ends up being 1,828 fewer listings than the 5-year average (18,451) for this time of year. The Phoenix Valley continues to see a low inventory of homes for sale, which helps values to remain high, as well as demand.
The low inventory of homes for sale in Phoenix still has some sellers receiving multiple offers on their homes. However, with less competition from buyers this time of year, you may have a better chance of getting the home you desire. Having a good real estate agent who understands the market is a must. Homes in the
Phoenix Metro area are still selling within a few weeks of hitting the market. You need an agent that can provide you a list of homes for sale as soon as they hit the market, as well as an agent that can help negotiate a great deal, and ensure that your transaction closes.
I have additional market reports and statistics included on my website, and you can find this information by clicking the following link, Arizona Multiple Listing Service Market Stats and Reports.
- The average sold price in December for single family homes in Metro Phoenix is $326,646.
- The average sales price has increased by 6.17% from December of the previous year.
- The median sold price in December for single family homes in Metro Phoenix is $261,000.
- The sales price has increased by 6.53% from the previous year.
- The number of new purchase contracts in December decreased to 5,981.
- New purchase contracts have decreased 9.2% from December of 2017.
- The number of active listings is at 15,280.
- The average Days on Market is 61.
Find Homes for Sale in Phoenix AZ
Visit my website to search for homes in Phoenix or to be notified when homes in Phoenix and the surrounding area come on the market. You can also click on the following link to find out what your home is worth.
If you have any questions about home buying, home selling, or investing in real estate in Chandler, or the East Valley of Arizona, just call/text me at 602-295-6807, or email me below, and I can help!
I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"
Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.