Source: City Sun Times —
The market is normalizing. That is the message shared by Phoenix REALTORS, one of the foremost industry experts serving more than 11,000 real estate sales professionals Valleywide, as the organization released the latest market data from September 2022.
Based on the most recent ARMLS data, which includes Maricopa County and other surrounding communities in Arizona, September saw a slight increase in the number of closed sales from last month by 130 homes, but overall reflected a 32.2% decrease year over year.
In terms of increases, the median sales price, which landed at $450,000 for September, increased by 8.4% year over year, and there are more homes for sale currently on the market – nearly 1,000 more than August and up 133.6% year over year.
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