Last month, most buyers were in the price range of $100,000 to $199,999, compared to same time last year. This could be attributed to home prices been on the increase.
We also saw 10 more homes for sale, between the prices of $500,000 to $599,999, being bought this past month, than same time last year that.
number of homes sold below $600,000 in Phoenix, AZ April 2013
number of homes sold below $600,000 in Phoenix, AZ April 2012
How many Phoenix home owners decided to sell in April 2013?
Phoenix, AZ had 3348 homes that were for sale during the month of April 2013. This was over 700% more than the 412 homes for sale below $600,000 in April 2012.
For homes below $99,999 we had enough for just 1.6 months supply and 1.4 months supply for homes priced between $100,000 and $199,999. 4.2 month supply is the highest number we saw in Phoenix and that was homes for sale priced between $500,000 and $599,999.
Our inventory of homes for sale in April 2013 was far better than April 2012 where the highest number we had, was 0.9 months supply of homes. Hopefully as more homeowners find out they have enough equity in the homes to sell, our inventory shortage will be taken care off.
number of homes available for sale in Phoenix, AZ April 2013
number of homes available for sale in Phoenix, AZ April 2012
How long did it take to sell homes in Phoenix in April 2013?
With many of the investors leaving town because of shortage of homes and home prices increasing in Phoenix, we saw homes priced in the lower price ranges taking a few more days to close than we saw in April of last year.
It took just a few more days to sell homes in Phoenix in April of 2013 than April 2012. This could also be due to other factors like more people buying with a home loan instead of cash which takes more time to close because of the steps involved.
Average days for homes to sell in Phoenix AZ April 2012
Average days for homes to sell in Phoenix AZ April 2013
Also the average priced paid compared to the listing price of these homes were high.
did homes for sale in Phoenix, AZ sell for full price April 2013
did homes for sale in Phoenix, AZ sell for full price April 2012
Please note: This real estate market update was for just the City of Phoenix and for single family homes for sale price below $600,000.
If you would like more information about another city in Maricopa County, Condos, Land etc, please contact Dorette Oppong-Takyi, your Phoenix Real Estate Broker Associate. She will provide you with how homes for sale are doing today not just in other parts of Phoenix, but also your specific subdivision.