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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 | Quarter 4, 2023 vs Quarter 4, 2022

Real Estate Market Update | Metro Phoenix | Quarter 4, 2023 vs Quarter 4, 2022

A 19% decrease in SOLD properties reflects reduced demand and market activity. Despite this decline, the Average Sales Price Increased by a strong 7%, while the Average Price Per square foot declined, indicating consistent pricing dynamics. The rise in available homes for sale suggests a shift toward a more balanced market. However, with interest rates dropping below 7%, as the MetroPhoenix home selling season gains momentum, we anticipate a market slightly favoring sellers. Effective marketing, exposure, and agent representation become crucial for sellers and buyers in such markets.

– Grant Van Dyke

Metro Phoenix

Average Sales Price: 2022 > $939,953 vs 2023 > $1,001,591 = 7% increase

Average Days On Market: 2022 > 41 vs 2023 > 64 = 56% increase

Average Sale Price Per Square Foot: 2022 > $382 vs 2023 > $363 = 5% decrease

Sale to List Price Ratio: 2022 > 98.63% vs 2023 > 96.79% = 2% decrease

Number of Sold Listings: 2022 > 6,537 vs 2023 > 5,268 = 19% decrease

Months Supply of Inventory: 2022 > 1.49 vs 2023 > 1.54 = 3% increase

Mortgage Rate: 2022 > 6.74% vs 2023 > 6.90% = 2% increase

Top 10 Sales

$23,500,000 5636 E Mockingbird Ln, Paradise Valley

$18,000,000 5665 E Caballo Dr, Paradise Valley

$13,250,000 5113 N Wilkinson Rd, Paradise Valley

$13,000,000 6101 N Yucca Rd, Paradise Valley

$12,949,999 3700 E Camino Sin Nombre, Paradise Valley

$12,500,000 5104 N Wilkinson Rd, Paradise Valley

$12,300,000 5029 E Desert Park Ln, Paradise Valley

$12,000,000 6659 E Indian Bend Rd, Paradise Valley

$11,550,000 7070 N 59th Pl, Paradise Valley

$11,000,000 5029 E Desert Park Ln, Paradise Valley

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