Video: Real Estate Community Tour for 85014 (Phoenix, AZ)
See Real estate community tour for 85014 (Phoenix, AZ)
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was down 29% from one year earlier, and down 14% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 280-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 28%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was 230-thousand dollars. The number of units sold increased 23% year-over-year, and decreased 10% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. 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.