Phoenix AZ Real Estate Housing Market Report - August 2021
After reaching a record low of 23 days on market in May and June, days on market for Phoenix homes increased by one day in July and August, and is now up to 25 DOM.
The lack of listings continues to drive demand and home prices higher, so even though the number of Phoenix listings is growing, as long as they continue to be less than in previous years, expect home values in Phoenix to continue to increase.
With that said, median home values in Phoenix have increased an average of 21.5% since August of 2020. With interest rates remaining around 3.0%, there will still be more buyers looking to purchase Phoenix homes through the remainder of this year.
For more detailed stats on the Phoenix Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.