Where Is the Phoenix Market Heading?

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The Phoenix market is currently moving forward at a steady pace. In the month of January, we saw 10,888 new listings come on the market, and 4,784 closed transactions. Our market is currently experiencing low demand and low supply. When we sat down to compare January of 2015 to December of 2014, we saw a 1.2% decrease in the average median price and a .6% decrease in average sales price.

These statistics don't necessarily show that we're in a declining market. Rather, it shows a growing disparity between what homes are listed for, and what they're actually selling for. When looking at what's currently pending, we have a whole lot more homes pending right now than we did a year ago, which is always a great sign.

If you have any questions about the real estate market in your particular area, or if you would like real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you make the most of the Phoenix market!