2021 May Phoenix AZ Real Estate Housing Market Trends Report, Statistics and House Value
Here are May 2021 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 6/2/2021, provided by the FlexMLS system.
- Number of new Listings homes for sale have increased about 8.9% compare to May 2020
- May 2021 average sold price for single family home in Phoenix AZ is $502,073, that is about 34.9% increased from a year ago
- Phoenix single family homes median sold price in May 2021 is $398,500, which had appreciate about 30.7% from May 2020
- Almost all of single family homes sold in Phoenix AZ in May 2021 are regular sale
- Most expensive homes sold in Phoenix AZ in May 2021 is sold for $6,023,700
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Number of Homes Sold in Phoenix AZ in May 2021
Based on May 2021 statistic, we saw 1,612 single family homes sold in Phoenix AZ compare to 1,245 of last May. That is about 29.5% increased number of single family home sold in Phoenix compare to a year ago.
In May 2021, we saw 22 days on market (DOM), compare to 42 in May 2020. It took average about 22 days to sell your home in Phoenix in May 2021.
Phoenix AZ May 2021 Median Sold Price
The median sold price for single family home in Phoenix AZ sold in May 2021 was $398,500. Compare to last year, median sold price in May 2020 was $305,000. The median sold price for single family home in Phoenix has increased about 30.7% from a year ago.
Click here to view Homes for Sale Under $385,000 in Phoenix AZ
2021 May Average Sold Price in Phoenix AZ
May 2021 average sold price for single family home in Phoenix AZ was $502,073. Compare to last year May at $372,319, the average sold price has increased about 34.9% from a year ago.
Click here to view Homes for Sale Under $500,000 in Phoenix AZ
There are 96 million dollar listings homes sold in May 2021.
2021 May Average Sold Price Per SQFT
The average sold price per square feet for single family home in May 2021 was $250 per square feet, compare to $194 a year ago.
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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