Real Estate Market Update for 85012 (Phoenix, AZ)

Video: Real Estate Community Tour for 85012 (Phoenix, AZ)

See Real estate community tour for 85012 (Phoenix, AZ)
Welcome to May's Market Update. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was up 5% from one year earlier, and down 9% from the previous month. Even so, buyers still enjoyed a greater selection of homes today than they did one year ago. As you can see, the median listing price for the month was just under 370-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 40%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 340-thousand dollars. The number of units sold increased 8% year-over-year, and increased 18% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 85012 (Phoenix, AZ)
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    Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.