Arizona Housing Market Update September 2020
As September has come and gone, more monthly records have broken with it. This includes the highest median sales price ever reported, the highest average sales price ever reported, and the highest sales volume for any September. These remarkable sales are likely to continue throughout October as well.
Here’s what you need to know:
According to ARMLS data from September 1 to September 31, 2020, monthly sales are up a resounding 18.5% from last year.
New inventory is also on the rise - up over 11% compared to 2019. The rise in inventory these past few months will help with the increased demand the Phoenix market has seen. Yet, home prices have continued to rise, up 1.54% from last month.
List vs. Sales Price
List and sales prices have continued to rise year-over-year.
Days on Market (DOM)
On average, homes are on the market 13 days less year-over-year.
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