Video: Real Estate Community Tour for 85016 (Phoenix, AZ)
See Real estate community tour for 85016 (Phoenix, AZ)
Welcome to September'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 4% from one year earlier, and down 8% 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 400-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 10%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 290-thousand dollars. The number of units sold decreased 2% year-over-year, and decreased 7% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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.