Greater Phoenix, AZ Housing Market Update April 2021

We saw high sales activity again in April and expect to see home sales continue to skyrocket throughout the summer. Check out our latest update. All data pulled from the ARMLS® from 4/1/2021 to 4/30/2021.

Monthly Sales

Monthly sales remained high in April but were down by 330 units from the previous month, a 3.4% change. With a 36.8% increase from one year ago, sales rose from 6,925 in April 2020 to 9,476 in April 2021. Although there was a slight decrease in sales from the previous month, expect the market to remain hot and see continued high sales activity this summer.

graph showing monthly sales at 9,476 vs. 6,925 last year

Data from the ARMLS® from April 1, 2021 to April 30, 2021

List Price

List prices continued to rise in April. At $518.6K, the average list price is up by $11.6K from the previous month’s average list price of $507K. The average list price across the Valley had an increase of $133.6K year-over-year or 32.8%. Median prices also remain on the rise. With a 24.2% increase from April 2020, the median list price in April was $385K.

graph showing this years list prices at $518.6k vs. $385k last year

Data from the ARMLS® from April 1, 2021 to April 30, 2021

Sale Price

Average sale prices continue to climb and are expected to increase in May. The average sales price increased by 33.5% between April 2020 and April 2021, landing at $492.9K. The average sales price increased by $22.7K from last month. Median sale prices also rose significantly with a 25% year-over-year increase. The median sale price in April was $375K.

sales price at $492.9k vs. $375k last year.

Data from the ARMLS® from April 1, 2021 to April 30, 2021

Days on Market (DOM)

The Average Days on Market in April was 32. This is a 5-day decrease from the previous month and a 19-day decrease from April 2020, again proving the market is in no state to slow down. The drop in DOM is a result of steady demand and low inventory. Any homes on the market are selling rapidly.

graph showing average days on market this year at 32 vs. 51 last year.

Data from the ARMLS® from April 1, 2021 to April 30, 2021

A Message From Wayne Graham, Head of Real Estate

“Phoenix’s highest sales volume ever recorded was in May 2019 with 10,341 home sales. As our sales volume continues to steadily increase in the Valley, residents can expect to see record breaking home sales this summer.”

Turn to a Homie

Homie has local real estate agents in all of our service areas. These agents are pros in everything they do, including understanding the local real estate market. Click to start selling or buying and to get in touch with your dedicated agent.

Read more about buying or selling in Arizona

Real Estate Market 2020 Recap & 2021 Forecast Greater Phoenix Metro Area, AZ
How to Find a Real Estate Agent in Arizona
How to Price Your Home in Arizona

Want to learn more about buying or selling? Sign up to get more info directly to your inbox!

What are you interested in?