In the Phoenix metropolitan area, encompassing cities like Phoenix, Buckeye, Glendale, Avondale, Surprise, Mesa, Scottsdale, and Peoria, the real estate market has shown varied trends across different dwelling types and locations from October 1, 2023, to April 20, 2024. The analysis provides a detailed overview of the market activities, including the number of active listings, new listings, sales volume, average sale price, and more, offering a comprehensive view of the current market dynamics.
Market Trends by City
Phoenix:
Total Active Listings: Increased slightly by 3% from 1222 to 1261.
Number Sold: Decreased by 12% from 631 to 553.
Average Sale Price: Increased by 12% from $315,415 to $355,483.
Scottsdale:
Total Active Listings: Increased by 8% from 1146 to 1244.
Number Sold: Increased by 6% from 495 to 525.
Average Sale Price: Increased by 10% from $497,454 to $551,419.
Mesa:
Total Active Listings: Nearly unchanged at -0.4% from 226 to 225.
Number Sold: Decreased by 18% from 135 to 110.
Average Sale Price: Slightly increased by 0.8% from $251,529 to $253,641.
Glendale:
Total Active Listings: Decreased by 12% from 65 to 57.
Number Sold: Decreased by 23% from 38 to 29.
Average Sale Price: Increased by 15% from $210,685 to $243,295.
Peoria:
Total Active Listings: Decreased by 38% from 34 to 21.
Number Sold: Decreased by 52% from 17 to 8.
Average Sale Price: Slightly increased by 1.8% from $252,074 to $256,769.
Surprise:
Total Active Listings: Increased by 39% from 71 to 99.
Number Sold: Increased by 29% from 37 to 48.
Average Sale Price: Increased by 6.9% from $224,512 to $240,135.
Buckeye:
Information on total active listings and sold numbers was not provided, indicating a potential oversight or data unavailability in the report.
Avondale:
Similar to Buckeye, specific data for Avondale was not detailed in the report, highlighting a gap in city-specific insights.
Market Analysis
The real estate market in the Phoenix metropolitan area shows a significant variation influenced by economic factors, population growth, and local developments. Cities like Scottsdale and Surprise have demonstrated robust growth in both the number of transactions and average sale prices, reflecting a strong buyer interest and investment in these areas. Conversely, cities like Mesa and Peoria have experienced a slight to moderate increase in average sale prices but have seen a decline in the number of properties sold, suggesting a tightening market with possible inventory constraints.
Conclusion
The real estate landscape in the Phoenix metropolitan area continues to evolve with mixed signals, showing growth in some areas while others face reductions in activity. This analysis provides stakeholders with crucial insights to make informed decisions, whether for buying, selling, or investing in the region's housing market.
The source comes from the local MLS (Multiple Listing Service) as a comprehensive resource for up-to-date and city-specific real estate data. Please contact a real estate professional for guidance regarding your situation or investment plans.
Comentários