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Scottsdale AZ Real Estate Housing Market Report - February 2023

3/26/2023

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Scottsdale AZ Real Estate Housing Market Report - February 2023

The average sales price of Scottsdale homes saw a significant increase this month, going from $1,257,035 in January, to $1,451,930 in February. This is the highest average sales price month since Scottsdale reached the all-time high of $1,499,763 in June of 2022.

After decreasing or remaining the same for 3 straight months, the average price of Scottsdale homes per square foot has increased, going from $431/sf last month to $446/sf for February. The average sold price per square foot in Scottsdale has only increased in 2 out of the last 9 months.

 
Scottsdale days on market has decreased last month, but increased again in February, going from 75 DOM in January to 77 DOM this month. This is the highest DOM in February for Scottsdale since 2019, as the Scottsdale DOM has increased in 7 of the last 9 months. It seems like the market is becoming more balanced between buyers and sellers as we head into the spring.
Scottsdale AZ homes for sale
After decreasing the last 5 months, Scottsdale home sales have increased in February. Scottsdale home sales have gone from a six-year low of 205 in January to 275 this month. This is an extremely low number for February, as the average number of Scottsdale homes sold in February over the last two years has been 491. Scottsdale home sales are now -36.0% lower than they were in February of 2022.
 
After increasing last month, the number of new Scottsdale listings has decreased this month, going from 571 in January to 494 in February. This is lower than the number of new Scottsdale listings last February by -4.6%.

The number of active Scottsdale listings has increased this month after decreasing the previous three months, going from 1,265 in January to 1,445 in February. Active Scottsdale listings are now 97.7% higher than in February of last year. This is the highest inventory in February since February of 2020.
 
Listings are still low overall and continue to drive demand. Scottsdale home prices saw a good increase this month, and we will have to see if that continues through the spring housing season. Home sales and inventory in Scottsdale are still low compared to a balanced market.
 

Median home values in Scottsdale have increased an average of 10.0% since February of 2022. With interest rates hovering around 7.0%, the number of buyers looking to purchase Scottsdale homes should be around the same as the number of sellers as we begin entering the spring.
​
>>Click here to sell all current Scottsdale Arizona Homes For Sale<<

​For more detailed stats on the 
Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Scottsdale real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Scottsdale AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Scottsdale AZ homes for sale
Real estate for sale in Scottsdale
Homes for sale in Scottsdale Arizona

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.
Scottsdale real estate
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Phoenix AZ Real Estate Housing Market Report - February 2023

3/25/2023

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Phoenix AZ Real Estate Housing Market Report - February 2023

The average sales price of Phoenix homes has increased this month after decreasing for 3 months in a row, going from $522,613 in January to $526,060 in February. The average sales price for Phoenix homes in February is significantly lower than the all-time high of $621,488 that occurred in May of 2022.

The average sold price per square foot of Phoenix homes increased for the first time in 9 months. The average sold price per square foot of Phoenix homes has gone from $274/sf in January to $279/sf in February.
 
The Phoenix days on market increased for the 9th straight month after decreasing the four previous months. The days on market has almost tripled from 24 DOM in May to 81 DOM in February. The DOM to sell a home in Phoenix is increasing, but a balanced market would expect to see an average DOM closer to 90.  Homes in Phoenix are still selling, but at a slower pace than the previous two years of frenzied activity.
Phoenix AZ homes for sale
After decreasing last month to start 2023, Phoenix home sales increased in February, going from 665 in January to 881 this month. With this increase in Phoenix homes sold, total home sales for February are still down -31.7% from February of 2022.
​
After increasing last month, new listings in Phoenix slightly decreased this month, going from 1,036 in January to 1,020 in February. This is the lowest number of new Phoenix listings for February over the last five years. With this recent decrease, the number of new Phoenix listings are -28.6% lower than in February of 2022.

After increasing for the previous six months, the number of active Phoenix listings has now decreased 5 months in a row. Even with this decline, active Phoenix listings are higher this February than in February of the previous two years. The inventory of Phoenix homes is now higher than in February of last year by 52.6%.

Home sales are decreasing due to higher prices, higher interest rates, and inflation. This is a sign that the housing market in Phoenix is shifting to where it is more balanced, and not such an intense seller's market.

 
With that said, median home values in Phoenix have decreased by -9.8% since February of 2022. This is the fourth straight time we have seen a year-over-year decrease. This has not happened in the last four previous years. With interest rates hovering just below 7.0%, and inflation continuing to impact our economy, the demand for homes will continue to slow.
​
>>Click Here To See All Current Phoenix Arizona Homes For Sale<<

​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.
Phoenix real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Phoenix AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."​

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Phoenix homes for sale
Real estate in Phoenix for sale
Homes for sale in Phoenix Arizona

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.
Phoenix real estate
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Mesa AZ Real Estate Housing Market Report - February 2023

3/24/2023

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Mesa AZ Real Estate Housing Market Report - February 2023

After increasing in October, the average sales price of homes in Mesa has decreased 4 months in a row, going from $548,933 in October to $491,522 in February. 

The average sales price per square foot of Mesa homes remained the same in February as in January. The price per square foot of Mesa homes remains at $253/sf for February. With the average sales price per square foot mostly decreasing throughout last year, it is now back to where it was in December of 2021.
 
After increasing for 8 consecutive months, the days on market for Mesa has decreased in February, going from 74 DOM in January to 72 DOM this month. This may mean that days on market for Mesa is leveling off as we enter the spring.
Mesa AZ homes for sale
After decreasing last month, home sales in Mesa have increased in February, going from 350 in January to 411 this month. Total sales for February are still the lowest they have been in February since before 2018. Mesa home sales this month are lower than in February of last year by -23.3%.

​After increasing last month, the number of new listings in Mesa decreased this month, going from 497 in January to 444 in February. With this decrease of new listings in Mesa, they are now -22.4% lower than they were in February of last year, and lower than any other February since at least before 2018.

After increasing for seven straight months, the number of active listings in Mesa has decreased for the 4th straight month, going from 1,665 in October to 1,156 in February. Even with the decline, this is the highest inventory in February since 2019.

This decline in active listings in Mesa signifies that fewer homeowners are putting their homes up for sale, which is typical this time of year, but we should see an increase as we near the spring season. Even with the recent decline, the number of active listings is still 61.2% higher than they were in February of 2022.
 

Demand has slowed, as have the home prices, partially due to inflation and the impact of the COVID pandemic, as well as rising mortgage interest rates. Median home values in Mesa have decreased an average of -0.6% since February of 2022. This is the third decrease in a row. Prior to that we had not seen a decrease in at least 4 years. With interest rates ranging right below 7.0%, the demand for purchasing a home in Mesa is slowing.
​
​>>Click Here To See All Current Mesa Arizona Homes For Sale<<

​For more detailed stats on the 
Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Mesa Arizona real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Mesa AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Mesa homes for sale
Real estate in Mesa for sale
Homes for sale in Mesa Arizona

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.
Mesa real estate
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Gilbert AZ Real Estate Housing Market Report - February 2023

3/23/2023

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Gilbert AZ Real Estate Housing Market Report - February 2023

The average sales price of Gilbert homes decreased for the second month in a row, after slightly increasing to end 2022, going from $620,705 in December to $588,495 in February. This is the first February that sales prices in Gilbert have decreased since February of 2019. Sales prices in Gilbert have declined in 8 out of the last 9 months.

After decreasing last month, the average sold price per square foot of Gilbert homes remained the same between January and February, at $263/sf. The sold price per square foot has decreased or remained the same in 6 of the last 8 months. The overall trend is downward as the Gilbert housing market seems to be slowing. The average sold price per square foot this month is now less than it was in February of 2022 by -$23/sf. This is the third month in a row this has happened, and it had not happened prior to that since before 2020. 
 
After decreasing for 3 straight months, Gilbert days on market has now increased for 9 months in a row, going from 20 DOM last May to 87 DOM in February. The Gilbert DOM has almost quadrupled in that time. Homes in Gilbert Arizona are still selling, but not quite at the frenzied pace they were in 2021 and midway through 2022.

Things should be picking up in Arizona as we near spring, but home values are trending downward, and the increase in mortgage interest rates are both contributing to the slowdown in the Gilbert housing market.
Gilbert AZ homes for sale
Gilbert home sales saw an increase this month, going from 150 in January to 218 in February. With this increase, Gilbert home sales are still -37.7% lower than in February of 2022. February home sales in Gilbert are significantly lower than they have been in February over the last 5 years, including when we were going through the Covid-19 pandemic.
 
The number of new listings in Gilbert decreased this month after increasing in January, going from 294 last month to 259 in February. This is the lowest number of Gilbert listings in February over the last 5 years. The number of new Gilbert listings in February is now -30.4% lower than the number of new listings in February of last year.

Home inventory increased in Gilbert between March and September but has now decreased the last 5 months. Gilbert inventory almost tripled between March and September, but after declining over the last 5 months, inventory has gone back down from a high of 1,046 in September to 655 in February. Home prices have been dropping and interest rates are rising, causing fewer homeowners to list their homes. Even though inventory is decreasing, the number of active listings in Gilbert are still 71.9% higher than in February of last year.
 

Gilbert listings have caught up with demand and the rapid increase in home prices has now started to decline. Median home values in Gilbert have decreased an average of -8.3% since February of 2022 as mortgage interest rates remain just below 7.0%. This is the second decrease in home values year-over-year since before 2019. The Gilbert housing market is slowing as we enter the spring, so we will have to wait and see if the Arizona housing market picks up.
​
​>>Click Here To See All Current Gilbert Arizona Homes For Sale<<
​
​For more detailed stats on the 
Gilbert Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Gilbert real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Gilbert, AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Gilbert AZ homes for sale
Real estate in Gilbert AZ for sale
Homes for sale in Gilbert Arizona

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.
Gilbert real estate
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Chandler AZ Real Estate Housing Market Report - February 2023

3/22/2023

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Chandler AZ Real Estate Housing Market Report - February 2023

The average sales price of Chandler homes increased in February, after decreasing in January, going from $584,300 in January to $607,490 this month. This is at least the 5th February in a row that sales prices in Chandler have increased.

After decreasing or remaining the same for 8 consecutive months, the average sales price per square foot of Chandler homes increased in February. The average sales price increased from $272/sf last month to $278/sf in February. This price is lower than the price per square foot of Chandler homes in February of 2022, by $13/sf.
 
After decreasing last month, the days on market has increased this month, going from 67 DOM in January to 75 DOM for February. Homes in Chandler are still selling, but they have certainly slowed down over the last 9 months.

This is the time of season where the housing market starts to pick up as spring is right around the corner.
Chandler AZ homes for sale
After decreasing last month, Chandler home sales have increased in February, going from 152 in January to 193 this month. The number of Chandler home sales is still lower than in February of last year by -30.6%. February is typically the beginning of increasing home sales for the new year in Chandler, however, this February is the lowest number of homes sold in February since before 2018.

After increasing last month, the number of new listings in Chandler decreased in February, going from 218 in January to 191 this month. With this decrease, new listings are now down -35.3% from February of last year. This is the lowest number of new listings in February since before 2018.

Demand was high, and supply was low starting in 2020 and lasting through the first half of 2022, but the demand has been slowing down due to higher home prices and interest rates, and therefore fewer homeowners are putting their homes on the market. The days of listing your home and getting multiple offers thousands of dollars over list price are over.

After increasing for eight straight months, more than doubling from 313 in January to 771 in September, active listings in Chandler have now decreased 5 months in a row and are down to 447 in February. Although home inventory is decreasing, this is the 11th month in a row that active listings have been higher than the same month last year. Even with this latest decrease, active listings in Chandler are still greater than last year's February listings by 40.1%.

The decline in the number of listings in Chandler over the last 5 months is another sign that the housing market is slowing, as demand has slowed, and fewer homeowners are putting their homes on the market.
 

Demand is slowing in Chandler. Home prices have been trending lower since June of last year due to inflation and higher mortgage rates, which has slowed buyer demand. Median home values in Chandler have decreased an average of -8.8% since February of 2022. This is the second decrease in a row after seeing nothing but increasing home prices from January 2019 through December 2022.

Mortgage interest rates have risen to just below 7.0%, although some experts say inflation is slowing. It looks like we are approaching a more balanced housing market in Chandler that should remain that way as we head into the spring.
​
>>Click Here To See All Current Chandler Arizona Homes For Sale<<

​For more detailed stats on the 
Chandler Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Chandler real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Chandler, AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Chandler homes for sale
Real estate in Chandler, AZ for sale
Homes for sale in Chandler Arizona

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.
Chandler real estate
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Ahwatukee AZ Real Estate Housing Market Report - January 2023

2/21/2023

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Ahwatukee AZ Real Estate Housing Market Report - January 2023

​After reaching an all-time high of $701,303 in May, the average sales price of homes in Ahwatukee had fluctuated up and down, but increased to begin the new year. The average sales price of Ahwatukee homes went from a new all-time low for 2022 of $531,644 in December to $563,061 in January. This is the first year since 2019 that the average sales price in Ahwatukee has decreased in January.
 
After increasing for the first six months of this year, the price per square foot of Ahwatukee homes has now decreased in 6 of the last 7 months, dropping from a high of $321/sf in June back down to $270/sf in January of 2023.
 
The Ahwatukee days on market has increased 6 months in a row, going from 28 DOM in July to 81 DOM in January. Ahwatukee DOM has almost tripled in the last 6 months. There should still be some demand for homes in Ahwatukee as we begin 2023, but this is typically the slowest part of the season for the Arizona housing market.
Ahwatukee AZ homes for sale
After increasing in November, Ahwatukee home sales have declined the last two months, going from 66 in November to 51 in January to start the new year. Home sales typically start to decline this time of year, but this is the lowest number of home sales in January over at least the last 6 years. With this decrease, Ahwatukee home sales are down -34.6% from January of 2022.
 
After decreasing three straight months, the number of new listings in Ahwatukee increased this month, going from 51 new listings in December to 67 in January. The number of new Ahwatukee listings are now -31.6% lower than they were in January of 2022.
 
After increasing for seven straight months, active listings in Ahwatukee have decreased the last 4 months, going from 299 in September to 179 in January. With this decrease, the number of active Ahwatukee listings is still 75.5% higher than in January of 2022. January listings in Ahwatukee are greater than they have been over the last two years.
 

There has been a lower-than-normal inventory of Ahwatukee homes for sale for quite some time. Homes that are listed in Ahwatukee continue to sell, but you can see it has been taking longer each month since July. Median home values in Ahwatukee have now decreased an average of -1.9% since January of 2022.

Even with interest rates remaining around 6.5%, the demand from buyers looking to purchase homes in Ahwatukee should remain slightly higher than in a balanced market as we begin 2023. Sales are slowing and fewer people are listing their homes while inflation continues.
​
>>Click Here To See All Current Ahwatukee Arizona Homes For Sale<<

​For more detailed stats on the 
Ahwatukee Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Ahwatukee real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Ahwatukee AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Ahwatukee homes for sale
Real estate for sale in Ahwatukee
Homes for sale in Ahwatukee Arizona

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.
Ahwatukee real estate
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Tempe AZ Real Estate Housing Market Report - January 2023

2/19/2023

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Tempe AZ Real Estate Housing Market Report - January 2023

After slightly increasing last month the average sales price of Tempe homes decreased to begin 2023, going from $539,099 in December to $521,542 this month. This is the first January that Tempe average home prices have decreased since before at least 2019.

The average sold price per square foot of Tempe homes saw a nice increase in January, after decreasing the last two months, going from $270/sf in December to $278/sf in January.
 
After Tempe days on market reached an all-time low of 20 in May and June, it has increased 7 months in a row. Tempe DOM increased to 66 in January. Even with this increase, homes in Tempe are still selling reasonably fast. However, sales should slow down early in the new year, which is the slowest time of the year for the Arizona housing market.
Tempe AZ homes for sale
After increasing last month to end 2022, Tempe home sales decreased to start the new year. Home sales in Tempe decreased from 70 in December to 64 in January. This is the third straight year Tempe home sales have decreased in January. With this decrease, Tempe home sales are now -41.8% lower than they were in January of 2022. This is the lowest selling January for Tempe home sales in the last five years.

New listings in Tempe have either decreased or remained the same the entire second half of 2022, going from 189 in June down to 54 in December. However, the number of new Tempe listings increased to start off 2023, going from 54 last month to 57 in January. New listings in Tempe are lower than they have been in January of the previous five years, and they are now -42.4% lower than in January of 2022.

After increasing for five straight months, the number of active listings decreased the last 4 months. Active listings have gone from 288 in September to 186 to start the new year. Even with the decline, the number of active listings in Tempe are greater than they were in January of last year by 36.8%.
 
Home prices are on a downward trend, home inventory is decreasing, and fewer homes are selling. We are also entering the slowest part of the housing season, which always impacts sales.
 

Median home values in Tempe have actually decreased an average of -7.4% since January of 2022. With interest rates hovering around 6.5%, there will be a slowing of home sales and increasing of inventory early in the new year as the market shifts.
​
>>Click Here To See All Current Tempe Arizona Homes For Sale<<

​For more detailed stats on the 
Tempe Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Tempe real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Tempe AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Tempe homes for sale
Real estate in Tempe for sale
Homes for sale in Tempe Arizona

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.
Tempe real estate
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Scottsdale AZ Real Estate Housing Market Report - January 2023

2/18/2023

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Scottsdale AZ Real Estate Housing Market Report - January 2023

After Scottsdale's average sales price reached a new all-time high of $1,499,763 in June, the average sales price has been on a downward trend, and has decreased two months in a row. The average sales price of Scottsdale homes has gone from $1,345,064 in December to $1,257,035 in January to start the new year.

The average price of Scottsdale homes per square foot has decreased for the second straight month, going from $439/sf last month to $431/sf for January. The average sold price per square foot in Scottsdale has now decreased in 6 out of the last 8 months.

 
Scottsdale days on market has decreased to begin the new year after increasing for three straight months, going from 76 DOM in December to 75 DOM in January. This is the second lowest DOM in January for Scottsdale over the last 6 years, with January of last year the only time the DOM was lower. It seems like the market has become more balanced between buyers and sellers as we begin 2023.
Scottsdale AZ homes for sale
After increasing last August, Scottsdale home sales have decreased the last 5 months in a row. Scottsdale home sales have gone from 322 in August to 205 in January. This is an extremely low number for January, as the average number of Scottsdale homes sold in January over the last two years has been 444. Scottsdale home sales are now -47.6% lower than they were in January of 2022.
 
After decreasing for 3 straight months, the number of new Scottsdale listings has increased this month, going from 272 in December to 566 in January. This is higher than the number of new Scottsdale listings last January by -11.2%.

The number of active Scottsdale listings has decreased for the third straight month after increasing the previous seven months, going from 1,469 in October to 1,251 this month. Active Scottsdale listings are now 78.7% higher than in January of last year. Over the last six months it looks like there is a steady shift happening in the housing industry to a more balanced market.
 
Listings are still low overall and continue to drive demand, however, Scottsdale home prices have begun to drop as things are slowing down from the frenzied pace between 2020 through the first half of 2022. Home sales and inventory in Scottsdale are still low compared to a balanced market.
 

Median home values in Scottsdale have decreased an average of 1.6% since January of 2022. This is the first decrease year-over-year since June of 2019. With interest rates hovering around 6.5%, the number of buyers looking to purchase Scottsdale homes should be around the same as the number of sellers as we begin the new year.
​​
>>Click here to sell all current Scottsdale Arizona Homes For Sale<<

​For more detailed stats on the 
Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Scottsdale real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Scottsdale AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Scottsdale AZ homes for sale
Real estate for sale in Scottsdale
Homes for sale in Scottsdale Arizona

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.
Scottsdale real estate
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Phoenix AZ Real Estate Housing Market Report - January 2023

2/17/2023

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Phoenix AZ Real Estate Housing Market Report - January 2023

The average sales price of Phoenix homes has decreased for the third month in a row, going from $555,285 in October to $522,736 to begin the new year. The average sales price of Phoenix homes started the year lower than where it started last January. The average sales price for Phoenix homes in January is significantly lower than the all-time high of $621,488 that occurred in May of 2022.

The average sold price per square foot of Phoenix homes decreased for the second straight month. The average sold price per square foot of Phoenix homes has gone from a high of $317/sf in May to $274/sf in January. This is the 8th month in a row that the average sold price per square foot has remained the same or decreased.
 
The Phoenix days on market increased for the 8th straight month after decreasing the four previous months. The days on market has almost tripled from 24 DOM in May to 71 DOM in January. The DOM to sell a home in Phoenix is increasing, but a balanced market would expect to see an average DOM closer to 90.  Homes in Phoenix are still selling, but at a slower pace than the previous two years of frenzied activity.
Phoenix AZ homes for sale
After increasing last month to end 2022, Phoenix home sales decreased in January, going from 790 in December to 664 this month. This is typically the slowest month of the year, and with the most recent decrease in Phoenix homes sold, total home sales for January are down -41.9% from January of 2022.
​
After decreasing for 6 months in a row, new listings in Phoenix have increased to start 2023, going from 726 in December to 1,032 in January. This is still the lowest number of new Phoenix listings for January over the last five years. With this recent increase, the number of new Phoenix listings are still -25.1% lower than in January of 2022.

After increasing for the previous six months, the number of active Phoenix listings has now decreased 4 months in a row. Active Phoenix listings are higher this January than in January of the previous two years. The inventory of Phoenix homes is now higher than in January of last year by 58.9%.

Home sales are decreasing due to higher prices, higher interest rates, and inflation. This is a sign that the housing market in Phoenix is shifting to where it is more balanced, and not such an intense seller's market.

 
With that said, median home values in Phoenix have actually decreased by -6.2% since January of 2022. This is the third straight time we have seen a year-over-year decrease. This has not happened in the last four years until now. With interest rates hovering around 6.5%, and inflation continuing to impact our economy, the demand for homes will continue to slow.
​
>>Click Here To See All Current Phoenix Arizona Homes For Sale<<

​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.
Phoenix real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Phoenix AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."​

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Phoenix homes for sale
Real estate in Phoenix for sale
Homes for sale in Phoenix Arizona

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.
Phoenix real estate
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Mesa AZ Real Estate Housing Market Report - January 2023

2/16/2023

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Mesa AZ Real Estate Housing Market Report - January 2023

After increasing in October, the average sales price of homes in Mesa has decreased the last three months, going from $548,933 in October to $495,646 to start off the new year. 

The average sales price per square foot of Mesa homes has actually increased in January after decreasing for seven straight months. The price per square foot of Mesa homes has increased from $251/sf in December to $253/sf in January. With the average sales price per square foot mostly decreasing throughout last year, it is now back to where it was in December of 2021.
 
After decreasing for four consecutive months, the days on market for Mesa has also increased 8 months in a row, going from 21 DOM in May to 73 DOM in January (more than tripling). The increasing days on market for Mesa is a sign that demand is slowing as we start the new year.
Mesa AZ homes for sale
After increasing last month, home sales in Mesa have decreased to start 2023, going from 363 in December to 347 this month. Total sales for January are the lowest they have been in January since before 2018. Mesa home sales this month are lower than in January of last year by -25.5%.

​After decreasing for 6 straight months, the number of new listings in Mesa significantly increased to start the new year, going from 303 in December to 491 in January. With this increase of new listings in Mesa, they are now -20.7% lower than they were in January of last year. The number of homes being listed tends to trend lower this time of year, but this increase may be a good sign for 2023.

After increasing for seven straight months, the number of active listings in Mesa has decreased for the third straight month, going from 1,659 in October to 1,217 in January. Even with the decline, this is the highest inventory in January since 2019.

This decline in active listings in Mesa signifies that fewer homeowners are putting their homes up for sale, which is typical this time of year, but we should see an increase next month based on the number of new listings in January. The number of active listings is still 68.8% higher than they were in January of 2022.
 

Demand has slowed, as have the home prices, partially due to inflation and the impact of the COVID pandemic. Median home values in Mesa have decreased an average of -5.3% since January of 2022. This is the second decrease in a row. Prior to that we had not seen a decrease in at least 4 years. With interest rates ranging right around 6.5%, the demand for purchasing a home in Mesa is slowing.
​
​>>Click Here To See All Current Mesa Arizona Homes For Sale<<

​For more detailed stats on the 
Mesa Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
Mesa real estate housing report
If you’re considering selling your house, let my expertise guide you through the process to ensure a smooth transaction while navigating today's housing market.
​​
If you're thinking of buying a home, connect with me to begin your journey to homeownership.

Whether you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me today so we can put your plans into motion. 
Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Homes for sale in Mesa AZ
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.

"Real Estate is not just a job for me, it's about making a difference in the lives of others."

Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee

Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | TroyEricksonRealtor@gmail.com

Mesa homes for sale
Real estate in Mesa for sale
Homes for sale in Mesa Arizona

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.
Mesa real estate
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    Chandler and East Valley Blog: Troy Erickson Realtor

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     "Real Estate is not just a job for me, it's about making a difference in the lives of others."​

    Troy has been blogging about Chandler and East Valley Real Estate in Arizona since 2006.  He stays current on local Chandler real estate by attending educational classes, and talking with title companies, home inspectors, lenders, members of the Chandler community, as well as constantly working with home buyers, home sellers, and investors within the Chandler and East Valley community.

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Troy and Mia are your Chandler Arizona Real Estate Connection - an experienced team with Diverse Solutions Realty. Troy is a licensed Realtor in the state of Arizona.
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