Phoenix Real Estate Market Report – June 2019

We are all sitting on a gold💰mine.

The month of May was an absolute MONSTER! Nearly every sales number was bigger than the previous month. Inventory is down. Rates are low. Buyers are having to act quickly lest they see the property they like go bye-bye right before their very eyes. Monthly and annual median sales prices set new records to at $278,000 and $265,900 respectively.

Examine the charts below. Imagine the value of your own property as you review the numbers.

The Phoenix Real Estate Market Report – June 2019 is full of facts, graphs, figures, and charts.

If you want to study the current sales in your neighborhood we can supply custom data for you. Just ask and we will get that put together for you.

Want to get a quick glance of your own property values? See our Home valuation tool below for that.

Text or call me at 1-480-442-3501 to arrange for an in-house valuation which is far more accurate than the computer generated version.

If you’re ready to mine some gold I can help. This is the perfect storm for homeowners wanting to cash in.

1.5 months of supply. What the heck does that really mean? Good question. In a nutshell, this just means that if we stopped adding any and all new listings to the current inventory it would take only 1.5 months to sell the shelves bare. The impact is rather obvious. Sellers are in control.

Distressed property sales represent a tiny fraction of today’s real estate market in Phoenix. Compare that to the market back in 20011 when the bulk of the market was represented by bank-owned REO, short sales, HUD properties, and other sales of homes, condos, and townhomes that were under water.

See chart below where we are highlighting the 2009 – 2013 Distressed sales in Greater Phoenix

Monthly home sales in Phoenix 2019. As you can see from the two previous years the trend-line is quite similar to years past.

Highlights

• First-time homebuyers represent 32% of all home sales nationally.
• Cash sales make up 20% of all home sales.
• Over twenty-one percent of sellers provided the buyers with some sort of incentive to get the deal closed. The range of contribution spanned 4-10%.
• Realtors® agree that low inventory and interest rates are fueling the current state of the market.

Thank you for checking out our Phoenix Real Estate Market Report – June 2019.

Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.

See Additional Reports on the Phoenix Real Estate Market

Here’s the most recent home listings just added to the database in the average price range for Phoenix.

All homes here are priced at $300,000 or less.