March 2018 Phoenix Real Estate Statistics ARMLS® COPYRIGHT 2018”

With home inventory low and prices high, the PAR 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 March. You can read more by clicking here: http://armls.com/docs/2018-March-STAT-with-commentary.pdf

Total Monthly Sales: 9,402

Although this number is up only 3.1% from last year, it’s up a whopping 36% from last month. Homes are selling like hotcakes, showing this should be a great summer for sales!

Total Inventory: 21,703

This is a tiny decrease over last month of 0.3%, while down from last year by 11.8%, perhaps reflecting the quick sales of homes in the Phoenix area. This also shows the need for rental homes, so if you’re thinking about real estate investing, this is a great time to begin!

Average Sales Price: $316,400

Still rising, up 9.5% from last year at this time. As home prices rise, the market needs more rental homes, as fewer people can afford to buy.

Average Days on Market: 72

Days on market is down 6 days from last year at this time, and down 4 days from last month. As usual for heading into summer, 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 PAR 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!