OK I just heard the housing market is down 16% throughout the country so I thought it would be a good time to update you on the Phoenix market. One thing I always struggle with is the difference between the active adult and family markets. The active adult market is so different from the rest of the valley housing that the numbers I can show you are actually better in the retirement communities but nobody tracks those numbers separately.
If you would like a copy of the March updates (on this chart Red is bad and Green is good) I used click here- Download March updates
- Total number of active listings- 38,721. The lowest in over 4 years
- Pending homes- 13,366. The highest number since 2008
- Sales per month- 8,229. The highest number since 2008
- Days on the market- 115. In line with the last 3 years.
- Days of inventory- 154. Lowest since 2008
- Monthly sales $ per sq ft- $82.46. Higher than Jan, slightly lower than Dec and much lower than the last couple of years.
- Listing success %- 66.1%. Much higher than the last 4 years.
- Median Price- $110,250. Higher than Feb, lower than Dec and much lower than the last couple of years.
So now that we have these numbers what does it mean? Looking at this we could say the Phoenix Arizona market has improved but in my opinion it’s too early to get excited. Having the number of homes for sale down and the number of homes selling being better than expected we could say we see some light at the end of tunnel but there’s a long way to go.
If you have specific questions about local communities like Trilogy at Vistancia, Sun City Festival or other active adult communities feel free to contact us and we’d love to break down that area for you. Or to search real estate for sale in our retirement communities you can simply visit Search for homes
Also remember to download your free 33 page guide to buying an active adult home in Arizona!
Posted via email from Active Adult Living
