Today we are back again with another market update for the Phoenix Metro area. We have the latest market statistics for September, and we are excited to share with you the trends we have been seeing lately and what you can expect moving forward. Here are the latest numbers for September 2015, and how they compare to the numbers we saw in September 2014:
- 9,484 homes came on the market this September. That’s up quite a bit from last September, when we saw 8,891 homes come on the market.
- We have 22,073 active listings right now, compared to the 26,055 we had at this time last year. That’s a 15% drop in inventory in just one year, and great news for sellers.
- We sold 6,995 homes last month, a 10% increase from the 6,257 we sold in August of this year.
- Inventory is down by a full month year-over-year. We had 4.1 months of inventory in September 2014, and this year we have 3.1 months of inventory.
So to break it down for you, we have 15% less homes on the market, a 10% increase in home purchases, and 1 month less of inventory. We have more buyers, less sellers, and interest rates are still below 4%. Whether you’ve been thinking about buying or selling, now may be a good time to take advantage of these conditions. The low interest rates we are seeing won’t last too much longer.
If you have any questions for us, don’t hesitate to reach out. We would be more than happy to speak with you, just give us a call or send us an email.
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