Here’s our latest update on the market.

It’s time for your update on the market stats!

The monthly average sales price went from $195 per square foot to $250 per square foot—that’s a 27.9% increase, though it is down by 0.5% over last month. The median sales price went up 23.7% year over year, taking us from $325,000 to $400,000. I don’t think we’ve ever had these kinds of gains in the history of Arizona! It’s like a gold rush out there.

Active listings are down by 3.3%, which is strange considering that last month, they were up by 25%. The reason why listings dropped is that investors and iBuyers have entered the market and are gobbling up inventory. Last month, they bought up 9% of all the houses on the market! The truth is that we’re not going to be able to ignore them or forget about them; they’re here to stay.

If you’re thinking of selling your house, now might be the right time, so give us a call. We’d be more than happy to let you know where the market is and what your house could be worth. Hope to hear from you soon—time is of the essence!