Phoenix Real Estate Market Analysis

Inventory levels continue to rise since the previous report and are currently at 26,097 SFD homes available for sale.

• 10% increase in inventory over the last 2 months but closing rates have stayed fairly steady
• The closing rate of 7984 closes in the previous month leaves us with a 3 1/4 month supply of homes

The comparison of current active listing change is based on the previous reports' inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.

Overall Market

• Inventories are up 3% from the last report
• Total of 26097 active listings with 7984 closings in the last month
• About a 3 1/4 month supply

Phoenix

• Inventories are up 1% from the last report
• Total of 5171 active listings with 1987 closings in the last month
• About a 2 1/2 month supply

West Valley

• Inventories are up 6% from the last report
• Total of 5950 active listings with 2289 closings in the last month
• About a 2 1/2 month supply

NE Valley

• Inventories are unchanged from the last report
• Total of 4202 active listings with 528 closings in the last month
• About an 8 month supply

SE Valley

• Inventories are up 3% from the last report
• Total of 5903 active listings with 2171 closings in the last month
• About a 2 3/4 month supply.

Scottsdale over $1m

• Inventories are down 2% from the last report
• Total of 993 active listings with 39 closings in the last month
• About a 25 1/2 month supply

Scottsdale under $1m

• Inventories are up 1% from the last report
• Total of 1890 active listings with 358 closes in the last month
• About a 5 1/4 month supply
  

Paradise Valley

• Inventories are unchanged from the last report
• Total of 452 active listings with 29 closes in the last month
• About a 15 1/2 month supply

Phoenix is searched as a single entity.
West Valley is Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye, and Tolleson.
NE Valley is Scottsdale, Paradise Valley, Fountain Hills, Cave Creek, and Carefree.
SE Valley is Tempe, Mesa, Gilbert, Apache Junction, Queen Creek, and Chandler.

source: Karl Stauffer