March 2023 Phoenix AZ Real Estate Housing Market Trends Report, Statistics and House Value
Here are 2023 March Phoenix AZ Housing Market Update for single family home, statistics and house value. Be sure to contact us, if you have any questions about this report or about how the market is performing. This report includes MLS data for the past 12 months for Phoenix AZ as 4/2/2023, provided by the FlexMLS system.
- 2023 Phoenix AZ number of new listings homes for sale has decreased about 38.6% from March 2022
- March 2023 average sold price for single family home in Phoenix AZ is $563,966, that is about 2.5% decreased from a year ago
- Phoenix single family homes median sold price in March 2023 is $421,000, which had decreased about 10.4% from March 2022
- Almost all of single family homes sold in Phoenix AZ in March 2023 are regular sale
- Most expensive homes sold in Phoenix AZ in March 2023 is sold for $7,000,000
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Number of Homes Sold in Phoenix AZ in March 2023
Based on 2023 March Phoenix housing market statistic, we saw 1,068 single family homes sold in Phoenix AZ compare to 1,557 of last March. That is about 31.4% decreased number of single family home sold in Phoenix compare to a year ago.
Phoenix AZ March 2023 Days on Market
In March 2023, we saw 71 days on market (DOM), compare to 27 in March 2022. It took average about 71 days to sell your home in Phoenix in March 2023.
Phoenix AZ March 2023 Median Sold Price
The median sold price for single family home in Phoenix AZ sold in March 2023 was $421,000. Compare to last year, median sold price in March 2022 was $470,000. The median sold price for single family home in Phoenix has decreased about 10.4% from a year ago.
Click here to view Homes for Sale Under $415,000 in Phoenix AZ
2023 March Average Sold Price in Phoenix AZ
March 2023 average sold price for single family home in Phoenix AZ was $563,966. Compare to last year March at $578,437, the average sold price had decreased about 2.5% from March 2022.
Click here to view Homes for Sale Under $550,000 in Phoenix AZ
There are 89 million dollar listings homes sold in March 2023.
2023 March Average Sold Price Per SQFT
The average sold price per square feet for single family home in March 2023 was $284.00 per square feet, compare to $397.00 a year ago.
Click here to view Homes for Sale in Phoenix Under $200 per square feet
Based on the median sold price and average sold price statistic, buyer is paying less when buying single family home in Phoenix compare to one year ago.
Educated and savvy buyers understand that a competitive market gives them fewer options for home choices – even when inventory increases. Although this may vary from zip code to zip code and from price range to price range, buyers need to make sure they are fully informed regarding the specific market in which they have an interest. This will give them the best chance of being competitive when making an offer.
As a reminder, you need to meet with a real estate professional to see how statistics impact the area where you are considering selling or buying. Blended statistics will not be as accurate as a more detailed report we can provide to help you with your decision making.
If you are considering buying a home in Phoenix there is a sufficient inventory of homes to choose from and having a good real estate agent who understands the market is a must. Interest rates are still low so don’t wait too long on the sidelines; many listings when priced correctly are starting to sell within a few days of hitting the market.
Contact or call me at 480.721.6253 if you’re interested in knowing what your Phoenix home is worth in today’s real estate market or so we can discuss your housing needs. I look forward to talking to you and assisting with your real estate needs.
Affordable Financing Options Available
Several low down payment financing options including down payment assistance programs are available. Contact Us to find out what loan programs you qualify for. Learn more about how to buy a house in Phoenix AZ with a low down payment.
Wondering How Much I can afford?
Click here to access the Mortgage House Payment Calculator. Simply add in the price of the home you are considering and the calculator will return your estimated house payment. Change length of loan and interest rates to adjust results.
Selling Your Home in Phoenix Arizona
Contact Us or call Swee Ng at 480.721.6253 today to discuss your potential Phoenix AZ Home Price and our comprehensive marketing plan. We will prepare complimentary competitive market analysis (CMA) to find out what your home is worth at today’s market.
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