In this episode of Market Updates with AZDigest.com, we talk about two stats that might indicate the Arizona real estate market is slowing down. The Phoenix Metro Area real estate market is seeing a slight change in “Active Listings” and “Sales Per Month.” Listen in as we talk about what those stats means for someone who is looking to buy real estate in Arizona or sell their Phoenix home.

Link To Blog Post With Video & Charts: https://azdigest.com/blog/moving-to-arizona-all-phoenix-metro-cities-real-estate-market-update

Hey everybody, welcome back to another market update with AZ digest. Today is September 9 2020. And we are going to in this episode talk about the Phoenix metro area real estate market as a whole. Which is a little bit different than the episode we did last week. So I have some stats pulled up. As always, if you're listening to the podcast, you can click the link in the show notes. It'll take you to the blog post, or you can either watch the video or see these charts, linked up and displayed on the blog post. But we're gonna talk about a couple specific numbers and we did touch on these last week. But as always, the numbers change as we progress, right. And so this is for the Phoenix metro area real estate markets. This is every city. So basically from Mesa, to Phoenix to Scottsdale to Peoria. This is all of the listings and the Arizona regional MLS.

Phoenix Metro Area Real Estate Market Update

What we've seen as of recently is an uptick in active listings. So right now, as of yesterday, there are about 13,500 active listings in the Phoenix metro area market. This is up slightly from 13,300 active listings this time last month. So, as we've talked about more listings, is actually better for you as a buyer, but if you're looking to sell your home more active listings means more competition, which might actually mean a slightly, you know, not as much demand, right? So just something to think about. So 13,500 active listings right now in all of the Phoenix metro area. Now if you compare this to last quarter, so June around this time, we are down still right. We still have a reduced inventory. So about 13,500 active listings as of today, we had 16,800 in June.

We had 17,800 this time last year. So again, still a reduced inventory, but we've seen a slight uptick since last month. So something we might want to monitor. Additionally, sales per month, right? So this is how many houses are actually selling. We've seen a slight decrease. Okay, so the number of homes that are selling slightly decreased and this is all of the Phoenix metro area, and we'll dive into some of the other specific cities like Phoenix, and Scottsdale specifically in some future episodes, but sales per month is down slightly compared to last month. So last month, in August, we had a huge sales month about 10,800 homes were sold are in that sales per month stat. And today, we're about 8800. So, sales per month down slightly active listings up also slightly, which gives us a month supply right.

So this is how much kind of supply we have in comparison to demand. Which is just a slight uptick in supply. Which again, more supply is good for buyers. Not so great if you're looking to sell. And it might, you know, if we see a huge increase in supply, we might actually start to see a downtick in prices. So again, guys, take a look at the show notes. If you want to look at the chart I'm looking at. If you're listening to the podcast, as always, please like, subscribe, leave a review. And if there's something in particular you guys have questions on, don't hesitate to visit azdigest.com reach out, we're happy to talk about these stats specifically. Thanks as always guys for listening and I will catch you next time.

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