September 2024 Real Estate Market Update for Phoenix Metro Valley
Let’s talk about the September 2024 real estate market update for the Phoenix metro valley. I’ve been getting a lot of questions from you about what’s happening, and I want to break down the facts based on the latest data from the last three months. Here’s what you need to know:
For the last three months, the number of sold listings has been on a downward trend. In September, we sold 5,333 properties, which is fewer compared to previous months. So, what does that mean for the market? Yes, even though sales have slowed down, we’re witnessing a shift in activity.
New listings—homes being put on the market—are on the rise. Over the last three months, more people have been listing their homes, whereas earlier in the year, many were hesitant to sell. This shift became clearer in September, where we saw 8,687 new homes come onto the market.
Now, for the overall picture: active listings for September totaled 19,461 homes. As a buyer, this means you now have more options available. The increase in inventory gives you more choices and opportunities as we move into the next season.
If you’re wondering how these trends might affect your plans to buy or sell, reach out to Fred Delgado at 602.308.8494. With his expert insights and local market knowledge, he’s ready to help you navigate the market and make informed decisions!
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