Median new home list prices were also up 17.1% yearly to $480,000. The average new list price for a Phoenix home was $592,900 in July, up 14.3% compared to the same month in 2021. In July, Phoenix homes spent an average of 33 days on the market, up five days from a year ago and a monthly increase of three days from June.Ĭompared to 2021, prices for new homes hitting the market have been rising. Meanwhile, properties are sitting on the market longer. This drop marks the second-lowest sales total ever reported in July, with the lowest recorded in July 2007, when there were only 4,730 sales. On a yearly basis, home sales dropped 31.6% to 5,962 sales, a steeper decline than monthly transactions, which were down 22.8% in July. The number of Phoenix metro homes bought declined in July to the lowest level seen in years. July home sales at the lowest level since 2007 This is an improvement from June, when 2.33 months of housing was available. In July, there was 3.48 months’ supply of inventory. UCB (Under Contract Accepting Back-Up Offers) listings accounted for 11% of the market’s inventory, about 2,342 listings, while the remaining 2% of the market consisted of CCBS (Contract Contingent on Buyer Sale) listings. New mansions in Arizona to call your own (if you have the cash)ĪRMLS reported that 87% of July’s inventory was an active listing, representing 17,951 homes for sale.Tiny homes for sale in Arizona offer a mini alternative to mainstream.The number of homes on the market has nearly doubled from July 2021, rising 92.2% annually to 10,793 listings. Total inventory in the Phoenix region grew 15% between June and July to 20,746 properties.
This rise marked a 7.2% increase in new properties compared to a year ago when 9,878 new homes were online in July 2021. In July, new home inventory in the Phoenix metro area fell 13% month-over-month to 10,588 listings, according to t he most recent data from the Arizona Regional Multiple Listing Service (ARMLS). Monthly home sales and prices are falling in the Phoenix metro, but a higher number of homes hitting the market could provide buyers with more choice in properties than in 2021.
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