If you have not been paying attention, the Phoenix Real Estate market is completely different form the booming market of 2021. No longer do we have low housing inventory levels and above average appreciation. Here are a few numbers to gauge the market:
- Overall Home Supply – At the end of October, the total number of Phoenix Homes for Sale is 24,994. The inventory tripled since this time in 2021, when listing inventory was at 8,104 homes. The number of sold listings for the entire month of October is 5,417. Based on the October sales, the inventory of active listings represents a 4.6 months supply of homes.
- Local ZIP code of 85224 – HOT! The Chandler ZIP code of 85224 shows that in October there were a total number of 78 active single-family homes for sale, with the total number of sold single-family listings is at 27. In other words: there’s a housing supply of 2.88 months for this popular Chandler ZIP code.
- City of Chandler – EVEN HOTTER! If you are looking for a “starter” home in Chandler, the number of active listings for single family homes between 1,200 and 1,500 square feet is 90. The number of sold listings in October came in at 32, meaning that there is a housing supply of 2.81 months for starter homes.
Do you need to look at selling your home in the next few months? Contact us to set up a free consultation with no obligation. Here at the Thompson Group, our goal is to show you the BEST options for your situation. You can reach us at 602-753-0177 or www.MyAZHouse.com.
