Latest Phoenix Housing Market Report

Buyers, Sellers, Around Town

by | Dec 7, 2020

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Central Phoenix Homebuyers and Sellers, check out the October 2020 numbers for Maricopa County real estate below:

This market snapshot was culled from data derived from our Multiple Listing Service, and demonstrates in hard numbers what so many of us are feeling—that buying and selling in our neighborhood is at all-time unprecedented levels. With sales prices up more than 20% over last year and inventory down a whopping 40%, Phoenix home buyers have been moving quickly and aggressively on the best homes for sale.

As a result, home sellers are enjoying a robust and favorable seller’s market like never before.  Now, we know it looks like a bubble and feels like a bubble, but the research suggests that Phoenix’s rising real estate values are not going anywhere in the near future…or at least through the end of 2021.  Dialogue with us in the comments below or reach out if you want to talk more numbers!

This is obviously something those of us on the frontlines of real estate are excited about, but it is a bit of a double-edged sword as our buying clients are forced to pull out all the stops once identifying their perfect home.  This often means making up the difference in a low appraisal, offering over the asking price, and the end of contingent offers.

And for those selling a home in Central Phoenix, your Realtor shouldn’t be doing things the same old way.  New markets demand new strategies. We are specialists in helping you navigate our ever-changing market and landing the home you love, whether you are a first-time buyer, experienced buyer, or seller.  We’d love to change your mind about real estate agents and help make it easy!

Phoenix Housing Market - October 2020

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