🚨Market Update🚨


The demand in the Phoenix Metro real estate market has risen causing the highest increase in listings under contract we have ever seen from one month to the next! 


Here are some bullet points to summarize the current market at the end of January 2023…

  • Interest rates fell to 6.09% this week 
  • Median Sales Price is the lowest it’s been since October 2021 but appears to have plateaued in January
  • 58% of sellers are paying a portion of the buyers closing costs with the median amount being $10K
  •  Active listings are declining to a point we last saw at the peak of the market in June of 2022
  • The Cromford Market Index (which measures supply and demand) was at 108.7 at the end of January, indicating a balanced market and the highest we’ve seen since July 2022
  • Only 4 cities remain in buyer’s markets - Queen Creek, Buckeye, Maricopa, and Goodyear 

If you’re thinking of a move in the near future, contact me and I’d be happy to discuss the market in your specific area of the valley.