Arizona Real Estate January Snapshot

I received some market data from Tom Newell at First American Title today.

In January in Maricopa county there were 5480 single family homes sold.

The median price for a single family home was $119,000. Working in the luxury market it’s easy for me to forget sometimes the sheer volume of homes selling at our below $200,000 in Phoenix, Mesa, Chandler etc.

Of the 5480 homes sold, 2,500 were bought for cash. So cash is still king on a lot of deals.

In the luxury market, that is homes valued at over $1 million, there were 46 sales in Maricopa county.

Of the 5480, exactly 1771 of those had been on the market between 1 and 30 days. This makes it very clear that pricing your home correctly is very important over 32% of all sales came from properties that had been listed for less than a month.

These stats are gathered from data provided by the Arizona Multiple Listing Service (ARMLS).

That’s a snapshot for January, if you want any specific analysis of market data done please feel free to connect with me.

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