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(Prices and inventory current as of Nov 30, 1999)

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Direct Access To All Multiple
Listings Like Realtors®

(Prices and inventory current as of Nov 30, 1999)

See Pictures and updates (icon)See photos and updates from listings directly in your feed

Share with you friends (icon)Share your favorite listings with friends and family

Save your search (icon)Save your search and get new listings directly in your mailbox before everybody else

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Real Estate Market Update | Metro Phoenix | April 2024 vs March 2024

Real Estate Market Update | Metro Phoenix | April 2024 vs March 2024

The current real estate market in Metro Phoenix can be succinctly described as “subdued.”  Despite low sales volumes and distress levels near historic lows, stability prevails. A notable shift in prices seems unlikely in the near future, dampening hopes of significant price reductions. The trajectory hints at a gradual move towards balanced market conditions, tempering expectations of rapid price surges. Anticipation lingers for potential mortgage rate decreases to ignite buyer interest. 

– Grant Van Dyke

Metro Phoenix

Average Sales Price: March 2024 – $1,056,724 vs April 2024 – $1,203,198 = 14% increase

Average Days On Market: March 2024 – 66 vs April 2024 – 74 = 12% increase

Average Sale Price Per Square Foot: March 2024 – $386 vs April 2024 – $404 = 5% increase

Sale to List Price Ratio: March 2024 – 96.98% vs April 2024 – 97.03% = No Change

Number of Sold Listings: March 2024 – 501 vs April 2024 – 491 = 2% decrease

Months Supply of Inventory: March 2024 – 4.34 vs April 2024 – 4.36 = 1% increase

Mortgage Rate: March 2024 – 7.01% vs April 2024 – 7.31% = 4% increase

Top 10 Sales

$14,000,000 7835 N Ironwood Drive, Paradise Valley

$13,100,000 6126 E Joshua Tree Lane, Paradise Valley

$11,680,000 7050 N 39th Place, Paradise Valley

$10,392,587 6720 N Joshua Tree Lane, Paradise Valley

$7,850,000 7841 N Invergordon Place, Paradise Valley

$7,700,000 6133 N 61st Place, Paradise Valley

$7,264,000 6005 E Sage Drive, Paradise Valley

$7,000,000 4800 E Calle Del Medio, Phoenix

$6,800,000 6630 E Stallion Road, Paradise Valley

$6,800,000 4931 E Calle Del Norte, Phoenix

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