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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 | January 2024 vs December 2023

Real Estate Market Update | Metro Phoenix | January 2024 vs December 2023

For both buyers and sellers, the good news is that mortgage rates have steadily declined since last October and are expected to remain in the mid-6% range for 2024. While higher than the record lows of 2020 and ’21, they still fall below the historical average of 7.74%. This, along with increased inventory, signals the beginning of a robust real estate market, where buyers enjoy greater choices, and sellers can anticipate receiving 96 to 97% of their asking price, as long as their properties are appropriately priced.

– Grant Van Dyke

Metro Phoenix

Average Sales Price: Dec 2023 > $995617 vs Jan 2024 > $1062053 = 7% increase

Average Days On Market: Dec 2023 > 61 vs Jan 2024 > 65 = 7% increase

Average Sale Price Per Square Foot: Dec 2023 > $382 vs Jan 2024 > $377 = 1% decrease

Sale to List Price Ratio: Dec 2023 > 96.43% vs Jan 2024 > 95.89% = 1% decrease

Number of Sold Listings: Dec 2023 > 321vs Jan 2024 > 305 = 5% decrease

Months Supply of Inventory: Dec 2023 > 5.26 vs Jan 2024 > 6.04 = 15% increase

Mortgage Rate: Dec 2023 > 6.90% vs Jan 2024 > 6.84% = 1% decrease

Top 10 Sales

$9,750,000 5432 E Via Del Cielo, Paradise Valley

$9,506,275 5505 N Casa Blanca Dr, Paradise Valley

$9,300,000 6235 E Cholla Dr, Paradise Valley

$8,500,000 4701 E Sierra Vista Dr, Paradise Valley

$6,150,000 5301 N 69th Pl, Paradise Valley

$5,975,000 6326 E Quartz Mountain Rd, Paradise Valley

$5,619,000 6240 E Bar Z Ln, Paradise Valley

$5,185,000 4650 E Palomino Rd, Phoenix

$4,700,000 6718 E San Miguel Ave, Paradise Valley

$4,525,000 6101 E Cholla Ln, Paradise Valley

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