Video: Real Estate Community Tour for 85016 (Phoenix, AZ)
See Real estate community tour for 85016 (Phoenix, AZ)
Welcome to April's Market Update. Let’s take a look at residential real-estate activity in your area during the month of March. The number of active listings was down 6% from one year earlier, and down 2% 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 470-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 14%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 270-thousand dollars. The number of units sold increased 3% year-over-year, and increased 20% 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.