Arizona Real Estate market update September 2020 ***we were 436 homes away from an all-time record*** 2nd best quarter in ARMLS history
-New listings are up 18%, while active listings are down -42%
-Sold listings are up 23% (year over year) while total months of inventory sit near record lows of 1.4 months.
-The 3rd quarter of 2020 saw a near record setting total number of sales, just shy (435 homes short) of the all time record set in 3rd quarter of 2005.
-13500 homes are set to close in the next 30 to 45 days up 36% from this time last year.
-Home values are up 18% in the last 12 months (and 12% since just June this year)
-Low rates, out of state buyers, a population boom and high demand with low inventory are setting up appreciation to keep up well into 2021.