May 2019 Phoenix Market Report
New inventory is down -0.2% month-over-month while the year-over-year comparison increased by +4.1%. Sales are up +8.9% month-over-month. The year-over-year comparison is also up +4.3%. The average sales price is up +5.0% year-overyear while the year-overyear median sales price is also up +4.9%. Days on market were up +2 days year-over-year while month-over-month decreased by -4 days.
COMMENTARY by Tom Ruff
After a close fact-check of homes reported sold by ARMLS, May was a record-setting month. New all-time records were established for both sales volume and total dollar volumes, as well as the most homes sold and for the most money. Total dollar volume was $3,593,145,906. The monthly median sales price also set a record high reaching $278,000. After a slow start, 2019 is purring.
*STAT Market Reports are our market-wide reports produced each month by ARMLS.