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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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Phoenix AZ Real Estate Housing Market Report - December 2022

1/10/2023

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Phoenix AZ Real Estate Housing Market Report - December 2022

​The average sales price of Phoenix homes has decreased for the second month in a row, going from $555,356 in October to $540,539 this month. The average sales price of Phoenix homes ended the year lower than where it started, at $552,890 in January. The average sales price for Phoenix homes in December 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 slightly decreased this month. The average sold price per square foot of Phoenix homes has gone from $317/sf in May to $277/sf in December. This is the seventh 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 seventh straight month after decreasing the four previous months. The days on market has almost tripled from 24 DOM in May to 63 DOM in December. 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 | Troy Erickson Realtor
After decreasing three months in a row, Phoenix home sales increased in December, going from 759 in November to 800 this month. It is typical to see a slight increase in home sales as we head into the new year. With this most recent increase in Phoenix homes sold, total home sales for December are still down -47.7% from December of 2021.
​
After increasing for two straight months, new listings in Phoenix have now decreased for six consecutive months, going from 2,188 in June to 724 in December. This is now the lowest number of new listings in Phoenix over the last five years. With this recent decrease, the number of new Phoenix listings are -34.7% lower than in December of last year.

After increasing for the previous six months, the number of active Phoenix listings has now decreased three months in a row. Active Phoenix listings are still up from the first of the year, having gone from an all-time low of 1,637 in January to 2,871 in December to end the year. The inventory of Phoenix homes is now higher than in December of last year by 45.3%.

Fewer homeowners are listing their homes heading into winter, which is typical, and even with the decline in new listing, the number of listings is catching up with demand. Home sales are also 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 -3.4% since December of 2021. This is the second 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 rising, the demand for homes will continue to slow as we enter the new year.
​
>>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 - December 2022
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 | Troy Erickson Realtor
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 | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - November 2022

12/11/2022

0 Comments

 

Phoenix AZ Real Estate Housing Market Report - November 2022

After increasing last month, the average sales price of Phoenix homes decreased in November, going from $555,437 in October to $535,194 this month. The average sales price of Phoenix homes has averaged around $555,000 the last four months, which is significantly lower than the all-time high of $621,488 that occurred this last May.

After remaining the same for the last two months the average sold price per square foot of Phoenix homes decreased this month, going from $289/sf in October to $278/sf in November. This is the sixth decrease in the last seven months.
 
The Phoenix days on market increased for the sixth straight month after decreasing the four previous months. The days on market has more than doubled from 24 DOM in May to 56 DOM in November. 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 | Troy Erickson Realtor
Phoenix home sales have now decreased three months in a row, going from 1,010 in August to 758 this November. It is typical to see a decrease in home sales as we head into the slower fall housing season. With this most recent decrease in Phoenix homes sold, total home sales for November are down -46.4% from November of 2021.
​
After increasing for two straight months, new listings in Phoenix have now decreased for five consecutive months, going from 2,188 in June to 897 in November. This is the lowest number of new listings in Phoenix over the last four years. With this recent decrease, the number of new Phoenix listings are now -38.0% lower than in November of last year.

After increasing for the previous six months, the number of active Phoenix listings has now decreased two months in a row. Even with this decrease, active Phoenix listings have still increased in seven out of the last ten months, going from an all-time low of 1,637 in January of this year to 3,386 in November. The inventory of Phoenix homes is now higher than in November of last year by 45.3%.

Fewer homeowners are listing their homes heading into winter, which is typical, and even with the decline in new listing, the number of listings is catching up with demand. Home sales are also 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 -1.4% since November of 2021. This is the first year-over-year decrease in the last four years. With interest rates hovering around 6.5%, and inflation rising, the demand for homes will continue to slow as we enter the winter.
​
>>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 - November 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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 | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - October 2022

11/18/2022

0 Comments

 

Phoenix AZ Real Estate Housing Market Report - October 2022

After decreasing last month, the average sales price of Phoenix homes slightly increased in October, going from $549,370 in September to $555,218 this month. The average sales price of Phoenix homes has averaged around $555,000 the last four months, which is significantly lower than the all-time high of $621,488 that occurred this last May.

After decreasing for four straight months the average sold price per square foot of Phoenix homes did not change from last month, remaining at $289/sf in October.
 
The Phoenix days on market increased for the fifth straight month after decreasing four straight months. The days on market has doubled from 24 DOM in May to 53 DOM in October. The DOM to sell a home in Phoenix is still low, considering a balanced market would expect to see an average DOM closer to 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
​Phoenix home sales have decreased two months in a row, going from 1,010 in August to 866 this October. This is typically the time of year where we would see a decrease in home sales as we head into the slower fall housing season. With this recent decrease in Phoenix homes sold, total home sales for October are down -42.3% from October of 2021.
​
After increasing for two straight months, new listings in Phoenix have now decreased for four straight months, going from 2,188 in June to 1,023 in October. This is less than any previous years October listings since before 2018 by almost 500 homes. With this recent decrease, the number of new Phoenix listings are now -29.3% lower than in October of last year.

After increasing for the last six months, the number of active Phoenix listings has decreased in October. With this decrease, active Phoenix listings have still increased in seven out of the last nine months, going from an all-time low of 1,637 in January of this year to 3,604 in October (more than doubling in a little over a half year). The inventory of Phoenix homes is now higher than in October of last year by 51.8%.

The number of listings are catching up with demand, as home sales decrease due to higher prices, higher interest rates, and inflation. With the increase in listings and decrease in home sales, this should slow down the price increases we have seen over the last two years and is a sign that the housing market in Phoenix is shifting to where it is more balanced.

 
With that said, median home values in Phoenix have increased an average of 5.7% since October of 2021. With interest rates hovering around 7.0%, and inflation rising, the demand for homes is slowing as we enter the winter and head into the slower housing market season.
​
>>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 - October 2022
​When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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 | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - September 2022

10/25/2022

0 Comments

 

Phoenix AZ Real Estate Housing Market Report - September 2022

The average sales price of Phoenix homes decreased for the fourth consecutive month, going from $621,395 in May to $548,478 in September. However, the average sales price of Phoenix homes has still increased in 14 out of the last 20 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the fourth straight month as well, going from $317/sf in May to $289/sf in September. The Phoenix average sold price per square foot has only decreased 7 times in the last 32 months.
 
The Phoenix days on market increased for the fourth straight month after decreasing four straight months. The days on market increased from 24 in May to 45 DOM in September. The DOM to sell a home in Phoenix is still low, considering a balanced market would expect to see an average DOM closer to 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
After Phoenix home sales increased last month, home sales slightly decreased in September, going from 1,010 in August to 1,004 this month. This is typically the time of year where we would see a decrease in home sales as we head into the slower fall housing season. With this increase in Phoenix homes sold, total home sales for September are down -35.4% from September of 2021.
​
After increasing for two straight months, new listings in Phoenix have now decreased for three straight months, going from 2,188 in June to 1,478 in September. This is less than previous years September listings since before 2018. With this recent decrease, the number of new Phoenix listings are now -17.6% lower than in September of last year.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last six months. Active Phoenix listings have now increased in seven out of the last eight months, going from an all-time low of 1,636 in January of this year to 3,690 in September (a 125% increase in a little over a half year). The inventory of Phoenix homes is now higher than in September of last year by 60.2%.

The number of listings continue to increase and are catching up with demand, as home sales decrease due to higher prices, higher interest rates, and inflation. With the increase in listings and decrease in home sales, this should slow down the pace, and is a sign that the housing market in Phoenix is shifting to where it is more balanced.

 
With that said, median home values in Phoenix have increased an average of 9.9% since September of 2021. With interest rates hovering above 6.3%, and inflation rising, the demand for homes is slowing as we enter the fall and head into the slower housing market season.
​
>>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 - September 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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 | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - August 2022

9/16/2022

0 Comments

 

Phoenix AZ Real Estate Housing Market Report - August 2022

The average sales price of Phoenix homes decreased for the third consecutive month, going from $621,346 in May to $559,619 in August. However, the average sales price of Phoenix homes has increased in 14 out of the last 19 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the third straight month as well, going from $317/sf in May to $299/sf in August. The Phoenix average sold price per square foot has only decreased 6 times in the last 31 months.
 
The Phoenix days on market increased for the third straight month after decreasing four straight months. The days on market increased from 24 in May to 38 DOM in August. The DOM to sell a home in Phoenix is still low, considering a balanced market would expect to see an average DOM closer to 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
After Phoenix home sales decreased the last four months, home sales increased in August, going from 969 in July to 1,012 this month. This is typically the time of year where we would see a decrease in home sales as we head into the slower fall housing season, so this is unusual. With this increase in Phoenix homes sold, total home sales for August are down -29.6% from August of 2021.
​
After increasing for two straight months, new listings in Phoenix have now decreased for two straight months, going from 2,188 in June to 1,599 in August. This is below previous August listings since before 2018. With this recent decrease, the number of new Phoenix listings are now -11.6% lower than in August of last year.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last five months. Active Phoenix listings have now increased in six out of the last seven months, going from an all-time low of 1,636 in January of this year to 3,627 in August (a 122% increase in a little over a half year). The inventory of Phoenix homes is now higher than in August of last year by 63.3%.

The number of listings continue to increase and are catching up with demand, as home sales decrease due to higher prices, higher interest rates, and inflation. With the increase in listings and decrease in home sales, this should slow down the pace, and is a sign that the housing market in Phoenix is shifting to where it is more balanced.

 
With that said, median home values in Phoenix have increased an average of 9.8% since August of 2021. With interest rates averaging around 5.5%, and inflation rising the demand for homes is slowing as we near fall and head into the slower housing market season.
​
>>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 - August 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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 | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - July 2022

8/16/2022

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Phoenix AZ Real Estate Housing Market Report - July 2022

The average sales price of Phoenix homes decreased for the second consecutive month, going from $621,346 in May to $560,522 in July. However, the average sales price of Phoenix homes has increased in 12 out of the last 18 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased for the second straight month as well, going from $317/sf in May to $305/sf in July. The Phoenix average sold price per square foot has only decreased four times in the last 28 months.
 
The Phoenix days on market increased for the second straight month after decreasing four straight months. The days on market increased from 24 in May to 29 DOM in July. The DOM to sell a home in Phoenix is still low, considering a balanced market would expect to see an average DOM closer to 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
Phoenix home sales have decreased the last four months, after increasing for two straight months. Home sales in Phoenix have gone from 1,556 in March to 969 in July. This is typically the time of year where we would see an increase in home sales, so this is unusual, and I would say is a sign that the housing market is shifting. With this decrease in Phoenix homes sold, total home sales for July are down -35.7% from July of 2021.
​
After increasing for two straight months, new listings in Phoenix decreased, going from 2,189 in June to 1,829 in July. This is the highest number of July listings since before 2018. New listings in Phoenix have now increased in five out of the last seven months. With this recent decrease, the number of new Phoenix listings are just 1.3% higher than in July of last year.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last four months. Active Phoenix listings have now increased in five out of the last six months, going from an all-time low of 1,635 in January of this year to 3,380 in July. The inventory of Phoenix homes is now higher than in July of last year by 60.3%.

There is still a lack of listings based on demand, but it is changing. As long as there is a shortage of homes for sale, and demand remains high, home values in Phoenix will continue to increase. However, with the increase in listings and decrease in home sales, this should slow down the pace, and is a sign that the housing market in Phoenix is shifting.

 
With that said, median home values in Phoenix have increased an average of 8.3% since July of 2021. Even with interest rates averaging around 5.5%, there will still be more buyers looking to purchase Phoenix homes throughout the remainder of 2022.
​
>>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 - July 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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 homes for sale | Troy Erickson Realtor | HomeSmart
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Phoenix AZ Real Estate Housing Market Report - June 2022

7/26/2022

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Phoenix AZ Real Estate Housing Market Report - June 2022

The average sales price of Phoenix homes decreased for the second time in the last four months, going from $621,346 in May to $607,185 in June. The average sales price of Phoenix homes has increased in 12 out of the last 17 months.

After increasing for five straight months the average sold price per square foot of Phoenix homes decreased, going from $317/sf in May to $312/sf in June. The Phoenix average sold price per square foot has only decreased three times in the last 28 months.
 
The Phoenix days on market increased for the first month after decreasing four straight months. The days on market increased from 24 in May to 28 DOM in June. The DOM to sell a home in Phoenix is still low, considering a balanced market would expect to see an average DOM closer to 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
Phoenix home sales have decreased the last three months, after increasing for two straight months. Home sales in Phoenix have gone from 1,556 in March to 1,177 in June. This is typically the time of year where we would see an increase in home sales, so this is unusual and may be a sign that the housing market is shifting. With this decrease in Phoenix homes sold, total home sales for June are down -30.1% from June of 2021.
​
After decreasing last month, new listings in Phoenix increased for the second straight month, going from 1,714 in April to 2,188 in June. This is the highest number of new listings since before 2018 (over 3 1/2 years). New listings in Phoenix have now increased in five out of the last six months. With this recent increase, the number of new Phoenix listings are 15.9% higher than in June of last year.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last three months. Active Phoenix listings have now increased in four out of the last five months, going from an all-time low of 1,636 in January of this year to 2,708 in June. The inventory of Phoenix homes is now higher than in June of last year by 37.3%.

There is still a lack of listings based on demand, but it is changing. As long as there is a shortage of homes for sale, and demand remains high, home values in Phoenix will continue to increase. However, with the increase in listings and decrease in home sales, this should slow down the pace.

 
With that said, median home values in Phoenix have increased an average of 20.0% since June of 2021. Even with interest rates moving closer to 6.0%, there will still be more buyers looking to purchase Phoenix homes throughout the summer of 2022.
​
>>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 - June 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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.
Top Chandler AZ Real Estate Agent
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Phoenix AZ Real Estate Housing Market Report - May 2022

6/10/2022

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Phoenix AZ Real Estate Housing Market Report - May 2022

The average sales price of Phoenix homes increased again this month, going from $618,420 in April to a new all-time high of $621,356 in May. The average sales price of Phoenix homes has increased in 12 out of the last 16 months.

The average sold price per square foot of Phoenix homes continues to increase for the fifth straight month, going from $273/sf in December of 2021 to $317/sf in May. The Phoenix average sold price per square foot has only decreased twice in the last 27 months.
 
The Phoenix days on market decreased for the fourth straight month after increasing for seven straight months. The days on market has dropped from 34 in January down to 24 DOM in May. The DOM to sell a home in Phoenix is still very low, considering a balanced market would expect to see an average DOM closer to 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
Phoenix home sales have decreased the last two months, after increasing for two straight months. Home sales in Phoenix have gone from 1,558 in March to 1,327 in May. This is typically the time of year where we would see an increase in home sales, so this is unusual and may be a sign that the housing market is shifting. With this decrease in Phoenix homes sold, total home sales for May are down -16.5% from May of 2021.
​
After decreasing last month, new listings in Phoenix have increased from 1,714 in April to 1,931 in May. This is the highest number of new listings since March of 2020 (when Covid shut down our economy). New listings in Phoenix have now increased in four out of the last five months. With this recent increase, the number of new Phoenix listings are 11.5% higher than in May of last year. New listings decreased in May the two previous years.

After slightly decreasing in March, the number of active Phoenix listings has now increased the last two months. Active Phoenix listings have now increased in three out of the last four months, going from an all-time low of 1,632 in January of this year to 2,001 in May. The inventory of Phoenix homes is now higher than in May of last year by 2.5%. This is the first time this number has been in the positive since May of 2019. The lack of listings continues to drive demand and has home prices trending higher, but this is changing. As long as there is a shortage of homes for sale, and demand remains high, home values in Phoenix will continue to increase. However, with the increase in listings and decrease in home sales, this should slow down the pace.
 
With that said, median home values in Phoenix have increased an average of 25.0% since April of 2021. Even with interest rates moving above 5.25%, there will still be more buyers looking to purchase Phoenix homes as we head into the summer of 2022.
​
>>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 - May 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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.
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Phoenix AZ Real Estate Housing Market Report - April 2022

5/15/2022

0 Comments

 

Phoenix AZ Real Estate Housing Market Report - April 2022

After the slightest of declines last month, the average sales price of Phoenix homes increased this month, going from $580,757 in March to a new all-time high of $618,420 in April. The average sales price of Phoenix homes has increased in 11 out of the last 15 months.

The average sold price per square foot of Phoenix homes continues to increase for the fourth straight month, going from $273/sf in December of 2021 to $313/sf in April. The Phoenix average sold price per square foot has only decreased twice in the last 26 months.
 
The Phoenix days on market decreased for the third straight month after increasing for seven straight months. The days on market has dropped from 34 in January down to 25 DOM for April. The DOM to sell a home in Phoenix is still very low, considering a balanced market would expect to see an average DOM of 90.
Phoenix AZ homes for sale | Troy Erickson Realtor
Phoenix home sales have decreased in April, after increasing for two straight months. Home sales in Phoenix have gone from 1,558 in March to 1,489 in April. With this decrease in Phoenix homes sold, total home sales for April are down -6.2% from April of 2021.
​
After increasing for three months in a row, new listings in Phoenix have decreased from 1,740 in March to 1,698 in April. Since reaching a 2021 high of 1,888 new listings in June, new listings in Phoenix have decreased in six out of the last ten months. With this recent decrease, the number of new Phoenix listings are -9.6% lower than in April of last year. New listings have decreased in April in 3 out of the last 4 years.

After slightly decreasing last month, the number of active Phoenix listings increased in April. Active Phoenix listings have now increased in just two out of the last six months, going from a 2021 high in October of 2,373 down to 1,670 in April. The inventory of Phoenix homes is now down -12.4% from April of last year. The lack of listings continues to drive demand and has home prices trending higher. As long as listings continue to be less than in previous years, and demand remains high, expect home values in Phoenix to continue to increase.
 
With that said, median home values in Phoenix have increased an average of 29.0% since April of 2021. Even with interest rates moving above 5.25%, there will still be more buyers looking to purchase Phoenix homes early in 2022.
>>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 - April 2022
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.


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.
Homes for sale in Phoenix, AZ | Troy Erickson Realtor
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


Troy Erickson Arizona Real Estate Agent
Troy Erickson Realtor Top Arizona Real Estate Agent
Troy Erickson Realtor 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.

​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.
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    Chandler and East Valley Blog: Troy Erickson Realtor

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    Troy Erickson

     "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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