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Phoenix, AZ Real Estate Market Report - Oct. 2017

Written by Posted On Saturday, 04 November 2017 00:57

40th Dr Front Ext 1

The Phoenix, AZ real estate market was a mixed bag in October. The number of homes sold was flat versus September but up 3% from last year. However, the average sale price increased a robuts 5% over September, and 10% over October 2016. The number of home on the market increased by 3% over September, but is down 4% versus last year.  The number of homes Arizona Regional Multiple Listing Service (ARMLS), which covers all of Maricopa County as well as parts of Pinal and Yavapai Counties increased signifcantly in October to 22,728. The year over year price increase continues to move in the right direction, up 10% over October 2016. The 12 month moving average sale price, now at $271,657, (up 7% from the previous year), continues to edge up.  The days on market is at 61, down 10% from last year and well within the benchmark of a seller's market.  The "Burn Rate" (pending sales/active listings) has increased again slightly to 2.81 months supply.  And the price per square foot increased slightly, up 1%, over September.  Pending sales in September were 2,183 again foreshadowing another less than stellar report in November for the Phoenix, AZ housing market. 

Here are the latest stats for the month ending 10/31/17:

Active Listings: 3,947 (Up 3% from Sept. '17, Down 4% from Oct. '16)

Homes Pending: 2,183 (Down 4% from Sept. '17, Down 7% from Oct. '16)

Homes sold in last 30 days: 1,717 (Same as Sept.. '17, Up 3% from Oct. '16 )

Burn rate (Inventory on market / by homes currently under contract) =  2.81 months supply

Avg. Sale price (Solds): $284,326 (Up 5% from Sept. '17, Up 10% from Oct. '16)

Avg. price per sq. ft. (Solds): $154.73 (Up 1% from Sept. '17, Up 8% from Oct. '16)

Avg. Days on Market (Solds): 61 (Up 7% from Sept. '17, Down 10% from Oct. '16)

To receive a free market analysis for your Anthem home please call Jerry Murphy at 602-334-3757 or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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