February 2018 Phoenix Real Estate Statistics

With home inventory low and prices high, the ARMLS Phoenix Metro market needs an influx of homes to rent. If you have a home to rent, or are interested in renting your home, call us today at (602) 753-0333 Here are some of the numbers in the ARMLS region for February. You can read more by clicking here: http://armls.com/docs/2018-February-STAT.pdf

Total Monthly Sales: 6,911

This number is up 7.4% from last year, and 13.6% from last month. Homes are selling like hotcakes!

Total Inventory: 21,771

This is a small increase over last month of 0.5%, while down from last year by 12.1%.

Average Sales Price: $308,000

Still rising, up 7.9% from last year at this time. As home prices rise, the market needs more rental homes.

Average Days on Market: 76

Days on market is down 7 days from last year at this time, and down 1 day from last month. This shows that homes are selling faster.

Summary

Home prices are high. Homes are selling faster. There are just not enough homes in the price range most people want in the ARMLS region.

What does all of this mean? It’s a great time to have a Phoenix investment home, and a great time to rent a home in Phoenix! Check out our available rentals at: http://allcountyprestige.com/available-rentals

Call us today at: (602) 753-0333 for more information about renting out your home in Phoenix.

All County is here for you!