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Metro Phoenix Housing Market Predictions 2018

Here’s a look at the Metro Phoenix Real Estate Market Report for October 2018. According to the statistics released by the Arizona Regional Multiple Listing Service, the median sale price of homes is 8.91 percent higher this year over last. Let’s take a closer look at the Metro Phoenix market trends.

The median sale price for homes sold in Metro Phoenix during the month of September was $268,000. This amount is 7.2 percent higher than last year’s $250,000, but this month’s price is down significantly from the $273,000 last month. The median listing price for this month was $349,000, which shows a 5.79 percent increase from the $329,900 in September 2017.

October began with 15,833 active listings with no offers. This number shows a decrease of 4.4 percent from the 16,565 seen in 2017. There were 3,997 pending listings in Metro Phoenix at the end of September. This number is down 36.1 percent from last year at this time. This data shows that there is just over a 2-month supply of inventory for this area. The area would need a 6-month supply for the real estate market to be considered balanced. Read More Here!

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Market Reports from 2018

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Here are the most recent home listings just added to the database in the median sale price range for Metro Phoenix. All homes here are priced at $268,000 or less.

Summary
Metro Phoenix Real Estate Market Report – This Month
Article Name
Metro Phoenix Real Estate Market Report – This Month
Description
The median sale price for homes in the Metro Phoenix area was $268,000 for this month. Learn more about the real estate market in this area and what the stats mean for you as a home buyer or seller.
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Publisher Name
10xHomes
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