"In December, the active listing count in Phoenix climbed to 3,272, marking an impressive 16.4% increase compared to the prior year. This surge outpaced the national inventory growth of 12.1%, highlighting a shift in local market dynamics that favored home seekers. With newly listed homes experiencing a modest 2.0% year-over-year increase, reaching 938, the market offered an expansive array of options for discerning buyers. The combination of rising inventory and new listings signaled a beneficial pause in buyer demand, ripe with opportunity."
"The median listing price in Phoenix adjusted to $450,000 in December, representing a 6.3% decrease from the previous year. This adjustment was more pronounced than the national median listing price reduction of 0.6%, presenting a compelling landscape for buyers. With price reductions accounting for 23.0%-a rise of 3.2 percentage points from the previous year-sellers appeared ready to meet the market, opening doors for advantageous negotiations."
"In December, homes in Phoenix had a median days on market of 71, a 10.2% increase from the previous year, yet still slightly under the national median of 73 days. This increased time on market, in tandem with burgeoning inventory, provided buyers with a chance to consider their options carefully and make informed decisions, transforming the market into a playground of possibilities."
Active listings in Phoenix rose to 3,272 in December, a 16.4% year-over-year increase that outpaced national inventory growth of 12.1%. Newly listed homes increased modestly by 2.0% to 938, expanding buyer options and indicating softened buyer demand. The median listing price adjusted to $450,000, a 6.3% decline from the previous year, compared with a 0.6% national decrease. Price reductions accounted for 23.0% of listings, a 3.2 percentage-point rise, signaling sellers' willingness to negotiate. Homes spent a median 71 days on market, up 10.2% yet slightly below the national median of 73 days. The market presented increased opportunities for buyers.
Read at SFGATE
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