March 2024 began with listings at 123% of the 3 year average of 1,272 (from 2021-2023).
February’s sales were at 64% of the 3 year average of 1,196 (from 2021-2023).
Phoenix is currently turning over housing inventory once every 2.0 months
Phoenix Housing Market Conditions Updated for March 2024
To reduce data errors results are based on:
- Phoenix SOLD single family residences, patio homes, and townhomes (ask us about condos)
- List/sales price under $1,000,000
- Size over 1,000 sq ft.
- Calendar month
5 YEARS of sales data below will increase your understanding the local housing market (we have city data archived back to January 2008).
| Month | Total Active | Total Sold | % Sold | MO. INV. | Sq ft | Price | DOM | $$ sq ft | +/- List Price | Active # Foreclo. | % Active Foreclo. | Sold Foreclo. | % Sold Foreclo. |
| Mar-24 | 1,562 | 4 | 0.3% | ||||||||||
| Feb-24 | 1,515 | 769 | 50.8% | 2.0 | 1,786 | $496,946 | 57 | $278 | -$8,232 | 2 | 0.1% | 1 | 0.1% |
| Jan-24 | 1,408 | 618 | 43.9% | 2.3 | 1,767 | $482,901 | 54 | $273 | -$10,305 | 2 | 0.1% | 1 | 0.2% |
| Phoenix Housing Market Conditions 2023 | |||||||||||||
| Dec-23 | 1,498 | 627 | 41.9% | 2.4 | 1,808 | $488,003 | 49 | $270 | -$9,550 | 2 | 0.1% | 4 | 0.6% |
| Nov-23 | 1,486 | 579 | 39.0% | 2.6 | 1,771 | $487,159 | 42 | $275 | -$7,694 | 3 | 0.2% | 3 | 0.5% |
| Oct-23 | 1,251 | 767 | 61.3% | 1.6 | 1,787 | $494,554 | 39 | $277 | -$5,415 | 1 | 0.1% | 2 | 0.3% |
| Sep-23 | 1,108 | 820 | 74.0% | 1.4 | 1,773 | $489,864 | 42 | $276 | -$6,156 | 1 | 0.1% | 2 | 0.2% |
| Aug-23 | 1,028 | 832 | 80.9% | 1.2 | 1,771 | $487,599 | 41 | $275 | -$6,251 | 2 | 0.2% | 2 | 0.2% |
| Jul-23 | 963 | 857 | 89.0% | 1.1 | 1,807 | $490,051 | 45 | $271 | -$5,526 | 2 | 0.2% | 1 | 0.1% |
| Jun-23 | 1,050 | 1,016 | 96.8% | 1.0 | 1,793 | $484,611 | 49 | $270 | -$5,055 | 0 | 0.0% | 8 | 0.8% |
| May-23 | 1,033 | 1,162 | 112.5% | 0.9 | 1,801 | $484,513 | 56 | $269 | -$6,428 | 8 | 0.8% | 7 | 0.6% |
| Apr-23 | 1,240 | 972 | 78.4% | 1.3 | 1,797 | $478,013 | 64 | $266 | 6 | 0.5% | 4 | 0.4% | |
| Mar-23 | 1,488 | 1,076 | 72.3% | 1.4 | 1,731 | $451,842 | 68 | $261 | 12 | 0.8% | 2 | 0.2% | |
| Feb-23 | 1,731 | 891 | 51.5% | 1.9 | 1,755 | $453,674 | 80 | $259 | 4 | 0.2% | 2 | 0.2% | |
| Jan-23 | 2,001 | 667 | 33.3% | 3.0 | 1,779 | $448,897 | 73 | $252 | 2 | 0.1% | 0 | 0.0% | |
| Phoenix Housing Market Conditions 2022 | |||||||||||||
| Dec-22 | 2,451 | 824 | 33.6% | 3.0 | 1,791 | $460,182 | 64 | $257 | 4 | 0.2% | 3 | 0.4% | |
| Nov-22 | 2,720 | 778 | 28.6% | 3.5 | 1,766 | $455,209 | 56 | $258 | 1 | 0.0% | 1 | 0.1% | |
| Oct-22 | 2,808 | 871 | 31.0% | 3.2 | 1,785 | $478,484 | 53 | $268 | 2 | 0.1% | 1 | 0.1% | |
| Sep-22 | 2,719 | 1,053 | 38.7% | 2.6 | 1,756 | $478,136 | 47 | $272 | 5 | 0.2% | 1 | 0.1% | |
| Aug-22 | 2,709 | 1,049 | 38.7% | 2.6 | 1,735 | $474,841 | 37 | $274 | 3 | 0.1% | 0 | 0.0% | |
| Jul-22 | 2,095 | 1,057 | 50.5% | 2.0 | 1,711 | $482,722 | 28 | $282 | 1 | 0.0% | 2 | 0.2% | |
| Jun-22 | 1,449 | 1,192 | 82.3% | 1.2 | 1,744 | $503,119 | 25 | $288 | 0 | 0.0% | 2 | 0.2% | |
| May-22 | 809 | 1,357 | 167.7% | 0.6 | 1,762 | $514,081 | 22 | $292 | 1 | 0.1% | 3 | 0.2% | |
| Apr-22 | 547 | 1,499 | 274.0% | 0.4 | 1,773 | $509,785 | 23 | $288 | 1 | 0.2% | 1 | 0.1% | |
| Mar-22 | 531 | 1,575 | 296.6% | 0.3 | 1,777 | $493,546 | 26 | $278 | 3 | 0.6% | 1 | 0.1% | |
| Feb-22 | 585 | 1,334 | 228.0% | 0.4 | 1,795 | $483,812 | 33 | $270 | 1 | 0.2% | 2 | 0.1% | |
| Jan-22 | 753 | 1,220 | 162.0% | 0.6 | 1,794 | $468,796 | 32 | $261 | 2 | 0.3% | 1 | 0.1% | |
| Phoenix Housing Market Conditions 2021 | |||||||||||||
| Dec-21 | 972 | 1,617 | 166.4% | 0.6 | 1,820 | $461,970 | 31 | $254 | 3 | 0.3% | 1 | 0.1% | |
| Nov-21 | 1,108 | 1,477 | 133.3% | 0.8 | 1,765 | $452,697 | 30 | $256 | 2 | 0.2% | 1 | 0.1% | |
| Oct-21 | 1,090 | 1,560 | 143.1% | 0.7 | 1,775 | $449,987 | 28 | $254 | 3 | 0.3% | 0 | 0.0% | |
| Sep-21 | 1,011 | 1,630 | 161.2% | 0.6 | 1,762 | $432,475 | 25 | $245 | 0 | 0.0% | 2 | 0.1% | |
| Aug-21 | 1,082 | 1,509 | 139.5% | 0.7 | 1,795 | $441,397 | 23 | $246 | 1 | 0.1% | 2 | 0.1% | |
| Jul-21 | 838 | 1,613 | 192.5% | 0.5 | 1,791 | $438,975 | 22 | $245 | 0 | 0.0% | 1 | 0.1% | |
| Jun-21 | 690 | 1,773 | 257.0% | 0.4 | 1,805 | $431,459 | 22 | $239 | 2 | 0.3% | 2 | 0.1% | |
| May-21 | 588 | 1,642 | 279.3% | 0.4 | 1,811 | $424,201 | 21 | $234 | 3 | 0.5% | 3 | 0.2% | |
| Apr-21 | 526 | 1,674 | 318.3% | 0.3 | 1,812 | $410,250 | 24 | $226 | 2 | 0.4% | 2 | 0.1% | |
| Mar-21 | 603 | 1,748 | 289.9% | 0.3 | 1,830 | $400,676 | 27 | $219 | 1 | 0.2% | 4 | 0.2% | |
| Feb-21 | 553 | 1,402 | 253.5% | 0.4 | 1,842 | $391,450 | 35 | $213 | 2 | 0.4% | 4 | 0.3% | |
| Jan-21 | 667 | 1,344 | 201.5% | 0.5 | 1,816 | $376,359 | 33 | $207 | 3 | 0.4% | 4 | 0.3% | |
| Phoenix Housing Market Conditions 2020 | |||||||||||||
| Dec-20 | 1,082 | 1,763 | 162.9% | 0.6 | 1,843 | $375,769 | 34 | $204 | 4 | 0.4% | 7 | 0.4% | |
| Nov-20 | 1,235 | 1,616 | 130.9% | 0.8 | 1,841 | $374,803 | 34 | $204 | 5 | 0.4% | 7 | 0.4% | |
| Oct-20 | 1,163 | 1,819 | 156.4% | 0.6 | 1,878 | $376,653 | 33 | $201 | 5 | 0.4% | 2 | 0.1% | |
| Sep-20 | 986 | 1,666 | 169.0% | 0.6 | 1,920 | $378,515 | 38 | $197 | 9 | 0.9% | 8 | 0.5% | |
| Aug-20 | 1,031 | 1,684 | 163.3% | 0.6 | 1,897 | $367,209 | 38 | $194 | 8 | 0.8% | 9 | 0.5% | |
| Jul-20 | 1,024 | 1,911 | 186.6% | 0.5 | 1,909 | $360,929 | 47 | $189 | 8 | 0.8% | 10 | 0.5% | |
| Jun-20 | 1,578 | 1,718 | 108.9% | 0.9 | 1,875 | $351,182 | 47 | $187 | 14 | 0.9% | 6 | 0.3% | |
| May-20 | 1,703 | 1,309 | 76.9% | 1.3 | 1,823 | $339,923 | 39 | $186 | 10 | 0.6% | 10 | 0.8% | |
| Apr-20 | 1,991 | 1,281 | 64.3% | 1.6 | 1,887 | $344,694 | 44 | $183 | 13 | 0.7% | 12 | 0.9% | |
| Mar-20 | 1,362 | 1,517 | 111.4% | 0.9 | 1,906 | $348,088 | 49 | $183 | 13 | 1.0% | 7 | 0.5% | |
| Feb-20 | 1,509 | 1,357 | 89.9% | 1.1 | 1,850 | $332,060 | 60 | $179 | 15 | 1.0% | 6 | 0.4% | |
| Jan-20 | 1,745 | 1,169 | 67.0% | 1.5 | 1,820 | $323,458 | 58 | $178 | 10 | 0.6% | 14 | 1.2% | |
| Phoenix Housing Market Conditions 2019 | |||||||||||||
| Dec-19 | 2,015 | 1,429 | 70.9% | 1.4 | 1,870 | $335,282 | 56 | $179 | 15 | 0.7% | 6 | 0.4% | |
| Nov-19 | 2,235 | 1,311 | 58.7% | 1.7 | 1,858 | $321,389 | 53 | $173 | 20 | 0.9% | 14 | 1.1% | |
| Oct-19 | 2,214 | 1,534 | 69.3% | 1.4 | 1,839 | $322,940 | 52 | $176 | 22 | 1.0% | 22 | 1.4% | |
| Sep-19 | 2,092 | 1,576 | 75.3% | 1.3 | 1,870 | $321,733 | 54 | $172 | 25 | 1.2% | 16 | 1.0% | |
| Aug-19 | 2,330 | 1,674 | 71.8% | 1.4 | 1,855 | $317,694 | 58 | $171 | 26 | 1.1% | 14 | 0.8% | |
| Jul-19 | 2,451 | 1,787 | 72.9% | 1.4 | 1,870 | $316,591 | 61 | $169 | 22 | 0.9% | 15 | 0.8% | |
| Jun-19 | 2,760 | 1,831 | 66.3% | 1.5 | 1,883 | $321,491 | 59 | $171 | 30 | 1.1% | 15 | 0.8% | |
| May-19 | 2,899 | 1,973 | 68.1% | 1.5 | 1,875 | $317,465 | 62 | $169 | 25 | 0.9% | 13 | 0.7% | |
| Apr-19 | 2,967 | 1,864 | 62.8% | 1.6 | 1,850 | $309,063 | 65 | $167 | 23 | 0.8% | 15 | 0.8% | |
| Mar-19 | 3,115 | 1,561 | 50.1% | 2.0 | 1,852 | $306,348 | 71 | $165 | 28 | 0.9% | 22 | 1.4% | |
| Feb-19 | 3,159 | 1,212 | 38.4% | 2.6 | 1,821 | $305,658 | 68 | $168 | 33 | 1.0% | 20 | 1.7% | |
| Jan-19 | 2,951 | 1,030 | 34.9% | 2.9 | 1,868 | $305,335 | 70 | $163 | 33 | 1.1% | 10 | 1.0% | |
NOTE: we use the term “foreclosure” to describe bank owned homes and short sales because most people are familiar with it. “Distressed Properties” may be more accurate.
- Total Active – # of homes for sale at the beginning of the current month
- Total Sold – # of homes sold in the current month
- % Sold – a ratio of total sold to total active
- MO. INV. – based on total sold, how many months it would take to sell the total “active” inventory
- Sq ft – average square footage of sold homes
- Price – average sales price of sold homes
- DOM – Days On Market, or average days to sale
- $ sq ft – average price per square foot
- +/- List Price – the average dollars received by sellers above or below their average list prices
- Active # Foreclo. – # distressed properties for sale at beginning of month
- % Active Foreclo. – active # distressed properties expressed as a %
- Sold Foreclo. – # distressed properties sold in current month
- % Sold Foreclo. – # distressed properties expressed as a %
State: Arizona
County: Maricopa
Location: Phoenix
ZIP or Postal Code(s): Over 70 zip codes; too numerous to list
Phoenix Fast Facts
- 1,615,017 population in 2017 making it the largest city in the state. It’s the 5th largest city in the US behind NYC, LA, Chicago, and Houston.
- About 517 square miles in size.
- Phoenix has an average annual rainfall of 8.04 inches, an average temperature of 75.05 degrees and an annual high temperature of 86.7 degrees. The average high temperature in winter is 67 degrees.
- Everything available in the way of sports, recreation, arts, culture, dining, lodging and financial opportunities.
- Phoenix Sky Harbor International Airport serves more than 40 million passengers a year.
- Phoenix is one of the few U.S. cities with franchises in all four major professional sports leagues
- Greater Phoenix is currently home to 15 MLB Cactus League franchises
- Greater Phoenix’s major industries are (1) high-tech manufacturing, (2) tourism and (3) construction.
- There are six lakes within a 75-minute drive of Phoenix.
Visit us every month for updated Phoenix Housing Market Conditions. Find ALL Phoenix Homes for sale. Work with professional and highly respected Phoenix Real Estate Agents.
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