In June, Phoenix remained one of the nation’s hottest real estate markets with prices steadily increasing and selling quickly. All data pulled from the ARMLS® from 6/1/2021-6/30/2021.
Monthly Sales
In June, sales were up 5.9% from the previous month with 9,661 homes sold. Sales also slightly increased by 1.6% compared to June 2020.
List Price
Average list prices continue to climb increasing by 23.2% year-over-year. The average list price in June was $518.4K, a slight decrease from the previous month. Median prices also remain on the rise with a 25% increase from June 2020.
Sale Price
Sale prices remain on the rise in Phoenix. The average closing price in June was $507.9K, a 37.8% increase from the previous year. The average sales price slightly increased by $3,300 from the previous month.
Days on Market (DOM)
Homes are continuing to sell quickly in Phoenix. The Average Days on Market in June was 27. This is a 2-day decrease from the previous month and a 29-day decrease from June 2020.
A Message From Wayne Graham, Head of Real Estate
“Sale prices will remain on the rise as we continue to see historically low-interest rates and a shortage of for-sale homes. Because of these conditions many buyers have found themselves priced out of the current market. However, there is hope the second half of 2021 will ease and we’ll see more of a traditional pattern.”
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