Real Estate Market Update | Metro Phoenix | 2020 1st Quarter vs 2019 1st Quarter

Real Estate Market Update | Metro Phoenix | 2020 1st Quarter vs 2019 1st Quarter

Real Estate Market Update | Metro Phoenix | 2020 1st Quarter vs 2019 1st Quarter

Metro Phoenix

Average Sales Price
Q1 2019 – $542716
Q1 2020 – $611229
13% Increase

Average Days On Market
Q1 2019 – 87
Q1 2020 – 75
14% Decrease

Average Sale Price Per Square Foot
Q1 2019 – $204.47
Q1 2020 – $227.49
11% Increase

Sale to List Price Ratio
Q1 2019 – 95.51%
Q1 2020 – 97.14%
2% Increase

Number of Sold Listings
Q1 2019 – 1809
Q1 2020 – 1899
5% Increase

Months Supply of Inventory
Q1 2019 – 2.86
Q1 2020 – 2.14
25% Decrease

Mortgage Rate
Q1 2019 – 4.17%
Q1 2020 – 3.75%
10% Decrease

Top 10 Sales
1. $8,150,000 6512 N Desert Fairways Dr, Paradise Valley, AZ
2. $8,000,000 5612 N Yucca Rd, Paradise Valley, AZ
3. $7,600,000 5607 E Joshua Tree Ln, Paradise Valley, AZ
4. $6,250,000 6667 E Stallion Rd, Paradise Valley, AZ
5. $5,700,000 7620 N Foothill Dr, Paradise Valley, AZ
6. $5,200,000 8002 N 47th St, Paradise Valley, AZ
7. $4,850,000 4645 E Quartz Mountain Rd, Paradise Valley, AZ
8. $4,750,000 6208 E Bret Hills Dr, Paradise Valley, AZ
9. $4,750,000 5815 N Dragoon Ln, Paradise Valley, AZ
10. $4,700,000 8311 N 53rd St, Paradise Valley, AZ

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