Below you will find the statistical breakdown and more for the Phoenix area Real Estate Market for June 2018.
Below is a snapshot of June’s Real Estate Market Statistics for Phoenix AZ
The number of new listings in Phoenix for June was 2498 down 2.5 % from May. But in addition, new contracts also deceased by 6.0% to 2376. We saw 2121 home sales completed in June down 9.0% from May. Median sales price was $256,000 up 2.4% from May. There were 3711 active listing in Phoenix with the average days on market of 57. The average sold price to list price was 97.2% down by .2% from prior month.
Phoenix Homes for Sale by Bedrooms & Median price:
What does this mean if you are a seller?
Inventory levels increased by 6.6% June vs May. Sales volume decreased by 9.0% from the prior month. We currently have 1.75 months of inventory available for Sale which is an increase of 17.4% from May. This continues to shows a strong seller’s market even though inventory levels went up from last month’s 1.49. If priced correctly, sellers can expect to sell in less than the average 57 days on market we saw in May. Buyers are not going to overpay, but houses priced correctly and in good condition will sell, often with multiple offers. For June, we saw the list to contract price of 97.2% down by .2% from May. We also saw the median price increase by 2.3% to $256,000 as compared to May.
What does this mean if you are a buyer?
For buyers, a inventory of 1.75 months (compared to 1.49 months in May) is welcome news, but still in a strong sellers market. Sellers continue to have an advantage since there are less homes available. Anything under 3 months of inventory is considered a seller’s market. So those homes that are priced right may get multiple offers. The buyer has to remain diligent about their offers. If you are serious about an offer, have your agent provide you comparable properties to determine the best price for the house. Asking for seller concessions or making a low ball offer is still not a good strategy in this seller’s market. Remember, sellers also know the value of their home in this market. Their agents are keeping sellers updated on recent sales and homes similar to theirs as they come on the market.
Homes For Sale in Phoenix AZ.
Below are Homes that have come on the Market in the last 7 Days around the Median price range. Also below the pictures, you will see a Chart of all the Phoenix homes for Sale by price and Type:
Below are all the Homes available in the city of Phoenix by Dollar amount and type: