With home inventory low and prices high, the PAR ARMLS Phoenix Metro market needs an influx of homes to rent. If you have a home to rent, or are interested in renting your home, call us today at (602) 753-0333 Here are some of the numbers in the ARMLS region for July. You can read more by clicking here: https://armls.com/docs/2018-July-STAT.pdf
Total Monthly Sales: 8,380
Sales are down -7.7% month-over-month. The year-over-year comparison is up +6.7%.
Total Inventory: 19,755
Total inventory has a month-over-month decrease of -3.0% while year over-year reflects a decrease of -8.3%.
Average Sales Price: $362,500
The average sales price is up +8.2% year-over-year while the year-over year median sales price is also up +9.5%.
Average Days on Market: 63
Days on market were down -7 days year-over-year while month-over-month decreased by -2.
Summary
Home prices are high. Homes are selling faster. There are just not enough homes in the price range most people want in the ARMLS PAR region, and when they come onto the market, they’re snapped up fast.
What does all of this mean? It’s a great time to have a Phoenix investment home, and a great time to rent a home in Phoenix! Check out our available rentals at: http://allcountyprestige.com/available-rentals
Call us today at: (602) 753-0333 for more information about renting out your home in Phoenix.
