October 2019 Real Estate Market Update!
Metro-Phoenix Market Update – October 2019
We are seeing more new listings hitting the market than they did over the previous 3 months.
The total new listings across Metro Phoenix were 2,214 area which is up 3% from 2,144 last year. In fact, we are predicting an influx of new listings are likely to rise until we reach late November, when another downward trend is to be expected due to the holiday season.
Another interesting fact, the average days on market for closed listings across all areas and types fell to 58 during September. This is the lowest monthly figure since February 2006.
More new listings, more closings and higher prices all add up to an expanding market with higher price points.
Let’s quickly go over the sales numbers for last month.
Sept 2019 Home Sold: 8,024 vs. 7,070 + 11%
Sept 2019 Avg. Sold Price: $342,714 vs. $319,600 + 6%
Sept 2019 Avg Sold Pr. Per Sq Ft: $189 vs. $162 + 14%
Sept 2019 Avg. Days: 58 vs. 62 Days
Active Listings: 14,609
If you would like to know the specific averages ($) of the houses in those areas, you have 2 options:
1) Contact Alan directly at (602) 845-0947
2) Visit Alan’s website for a Quick Price Analysis of your home!
If you would like any additional information on the real estate
market, or if you’re wondering what your home is worth, reach out and contact Alan today.
Alan and his Team is always available to answer your questions. No question is too small!