March 2020 Phoenix AZ Real Estate Housing Market Trends Report, Statistics and House Value
Here are March 2020 Phoenix AZ Housing Market Update for Single Family Home and statistics. 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 provided by the FlexMLS system.
- New Listings had decreased about 3.9% compare to March 2019
- March 2020 average sold price for single family home in Phoenix AZ was $387,728, that is about 17.5% increased from a year ago
- Phoenix single family homes median sold price in March 2020 was $320,000, which had appreciate about 19.0% from March 2019
- Almost all of single family homes sold in Phoenix AZ in March 2020 are regular sale
- Most expensive homes sold in Phoenix AZ in March 2020 was sold for $3,350,000
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Number of Homes Sold in Phoenix AZ in March 2020
Based on March 2020 statistic, we saw 1,420 single family homes sold in Phoenix AZ compare to 1,450 of last March. That is about 2.1% decreased of single family home sold in Phoenix compare to a year ago.
In March 2020, we saw 51 days on Market (DOM), compare to 71 in March 2019. It took average about 51 days to sell your home in Phoenix in March 2020.
Median Sold Price for Single Family Homes Sold in March 2020
The median sold price for single family home in Phoenix AZ sold in March 2020 was $320,000. Compare to last year, median sold price in March 2019 was $269,000. The median sold price for single family home in Phoenix has increased about 19.0% from a year ago.
Click here to view Homes for Sale Under $320,000 in Phoenix AZ
2020 March Average Sold Price of Single Family Homes Sold in Phoenix AZ
March 2020 average sold price for single family home in Phoenix AZ was $387,728. Compare to last year March at $330,019, the average sold price has increased about 17.5% from a year ago.
Click here to view Homes for Sale Under $375,000 in Phoenix AZ
There are 40 million dollar listings homes sold in March 2020.
2020 March Average Sold Price Per SQFT
The average sold price per square feet for single family home in March 2020 was $191.00 per square feet.
Click here to view Homes for Sale in Phoenix Under $150 per square feet
Based on the median sold price and average sold price statistic, buyer is paying more 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 house 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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