Pheonix Arizona

Hey there, Buyers and Sellers!

Let's talk about some key real estate metrics that can help you make informed decisions in the market.

First up, we have the Months Supply of Inventory, which currently stands at 5.21. This metric tells us how long it would take for all the current listings to sell at the current pace of sales. A lower number indicates a seller's market, while a higher number indicates a buyer's market.

Next, we have the 12-Month Change in Months of Inventory, which has seen a significant increase of +92.25%. This means that there has been a notable increase in the amount of time it would take to sell all the current listings compared to the previous year.

The Median Days Homes are On the Market is 51, showing that homes are selling relatively quickly in this market. This can be a good sign for sellers looking to move their properties quickly.

The List to Sold Price Percentage is at 98.2%, indicating that homes are typically selling very close to their list price. This could mean that sellers are pricing their homes accurately and that buyers are willing to pay close to the asking price.

Lastly, the Median Sold Price is $435,000, giving us an idea of the average price point in this market. This information can be helpful for both buyers and sellers in understanding the current pricing trends.

Overall, these metrics paint a picture of a market where homes are selling quickly, prices are holding steady, and sellers are getting close to their asking price.

Whether you're looking to buy or sell, it's important to keep an eye on these metrics to make informed decisions in the real estate market.