Take A Look At How The January 2021 Greater PHX Real Estate Market Compares To January 2020!

For the past few years, we've been taking a look how the Greater Phoenix Area Real Estate Market fared month after month, mostly comparing the month that ended with the month prior and lightly touching on the same time the previous year. This time we shift focus by comparing January 2021 with how things were back in January 2020 so we have an idea how much have changed in the span of 12 months.

And where to kick off best than with active listings. To highlight the low inventory we've been enjoying for quite some time now, January 2020 had 12,771 properties for sale whereas January 2021 registered only 8,088 active listings. That's nearly four thousand less homes to choose from for buyers last month but that didn't stop them from purchasing 6,623 properties, more than three-fourths of what were for sale at that time, while the same month last year sold only half of that time's inventory at 6,066 sales.

And that's with 7,883 new listings coming in for January 2021, nearly the same numbers as the active listings then, whereas January 2021 listed 8,987 new properties for sale. So it shouldn't come as a surprise that January 2020 had 1.6 months of supply while January 2021's stock was expected to last 1.02 months only.

It gets better for sellers in January 2021. While their counterparts a year prior sold their homes at an average of $371,330 at 62 days on the market, last month's go-getters moved theirs at an average sales price of $458,035 with just an average of 43 days after being listed!

Yes, we're in amazing times for selling your home right now but if you want to make good on this fantastic opportunity, you better make a move now (not sooner but now!) rather than later. Experts have expressed concerns over home affordability despite new conforming loan limits taking effect this year due to the record low supply and strong demand pushing home prices up to the point they almost negate the benefits of low mortgage rates.

And when experts talk, why not have your local specialists step up to help you make the right move? If you're ready to team up, then call 480-415-7616 to have The Shanna Day Team guide you to making the best of this crazy exciting period for homesellers!

Take A Look At How The January 2021 Greater Phoenix Real Estate Market Compares To January 2020!