This report will follow the real estate trends, sales, pricing and activity during the month of September and provide you with an overview of what is happening in the Maricopa County real estate market.
Active Real Estate Listings
The total amount of real estate listings that were in an Active status on 30 September 2013 in Maricopa County was 23,478. This is great news for potential buyers as that means there was just over 2,000 more homes in an active status of that of a month ago, and around 2,000 more than a year ago. This is the second best month of this year for the amount of inventory. Buyers finally have a little bit more selection of real estate to choose from. We are currently sitting at 3.5 months of an inventory of homes right now, which is around a half of a percent more than in August, and also half a percent better than a year ago. This is also a good sign for potential sellers in that more people are confident in the market to be listing their homes.
Pending Sales and Closed Sales are down this month from a month ago. Buyer contingencies are becoming more common now and multiple offers are not seen nearly as much as they were in recent years. With Sale prices averaging in the mid 200,000’s the closings are slowing down just a little bit as qualifying is becoming a little more challenging, and fewer homes are being purchased entirely with cash . However, the interest rates still remain very reasonable and even dropped a little during the month of September.
Real Estate Sold Statistics in Metro Phoenix during 1-30 September 2013
The Average sales price for home sales in Metro Phoenix during September 2013 was $236,371 with the average days on market being 62 and the average list price of $379,508. Average listing price and average sales price are both approximately 20 percent higher in 2013 then they were in 2012.
Here is a look at the homes that did sell and what price ranges they sold in during September 2013:
The Krone Team is happy to bring you your monthly market report for Metro Phoenix and we can provide you with any information you may need on your home, neighborhood, city, or any of your real estate needs. Please contact us today so you know what your real estate options are whether you may be looking to buy or sell your home.
The statistics utilized in this blog were extracted from the Cromford Report and the Arizona Multiple Listing Service on 2 October 2013 and 4 October 2013. All statistics and numbers should be verified.