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 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.
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.
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.
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.
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.”
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