Q: What’s Going on in Our Market Right Now?

By Monique Walker

Monique Walker has 21 years of experience successfully buying and selling homes in the Phoenix market. She knows the neighborhoods, schools, and the local economy. Monique and her team do all the leg work, keeping you up-to-date with new listings and conditions as they impact the market.

It’s no longer a secret that our market is on fire and performing well at every price point. Whether you’re at the $200,000 price point or the $2 million price point, it’s a hyper seller’s market all the same. Here are the latest stats to prove it: 

Last month, we had a 1.24 months’ supply of homes (that’s the amount of time it would take to sell all existing homes on the market if no new ones were to list). At this time last year, we had a 1.74 months’ supply of homes, so clearly we’re working with fewer homes in this current market. 

9,200 homes sold in August 2020, whereas 8,900 sold in August 2019. Despite a decrease in available homes, demand has remained sky-high, creating favorable conditions for sellers. If you’re curious to find out what your home is worth, I’d love to help; give me a call or send an email my way. We’re always here to serve!