Real Estate

Dramatic Increase in Number of New Real Estate Listings in Phoenix, Arizona

According to the chart above, the highest number of listings in Phoenix, Arizona over the past five years was 2018, reaching 9,860 in May. Then, after a fairly high number in 2019 and a significant drop in 2020 (due to COVID-19), the list rose again to 8,872 in 2021. Finally, in May 2022, the number of new listings increased even further to 8,933.

In 2021, however, the listing was just below 9,000 for several months, but this year the number continues to climb.In June 2022, the number of new homes sold in Phoenix increased to 9,641. , has not yet started to decrease. As such, this year he has seen a significant increase in the number of lists closer to 2018.

This means that people looking to buy a home want to start searching now because they have more options than they did in the last four years. Additionally, buyers who find a home they like may want to act quickly because the home doesn’t stay on the market for long. MovotoThe average Phoenix listing sells after 37 days. This is a significant increase from his 2021, when homes were typically on the market for 212 days. However, home buyers should also consider price, as home prices are now higher than ever. redfin The median home price in Phoenix is ​​$440,400, nearly double what it was in mid-2018.

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