Join us in taking a look at the market stats for December 2021 in Arizona!
Average Cumulative Days on the Market
Downtown Phoenix South Scottsdale Tempe
Downtown Phoenix (85003/85004):
42
South Scottsdale (85251/85257):
45.12
Tempe (85281, 85282, 85283, 85284):
31.69
Monthly Average Sales Price
Downtown South Scottsdale Tempe
Downtown Phoenix (85003/85004):
$639,986
South Scottsdale (85251/85257):
$677,629
Tempe (85281, 85282, 85283, 85284):
$448,943
Monthly Average Sales Price per Square Foot
Downtown South Scottsdale Tempe
Downtown Phoenix (85003/85004):
$375.50
South Scottsdale (85251/85257):
$436.90
Tempe (85281, 85282, 85283, 85284):
$287.03
Available Inventory (Excluding UCB) as of December 2021 (1/11):
Downtown Phoenix (85003/85004):
20
South Scottsdale (85251/85257):
104
Tempe (85281, 85282, 85283, 85284):
93
What’s the Bottom Line?
After taking a look at the December 2021 stats, once again we are looking at a housing market with a low inventory of homes behind it. In fact, according to the Arizona MLS, inventory currently available in Arizona will run out in 0.7 months! This places sellers in the state at a huge advantage over buyers currently looking to move; and will only contribute to the rising listing and selling prices. However, this means a potential for multiple offers and the chance for new builds popping up to aid in increasing inventory! So, what do we recommend? If you are looking to purchase a home soon, it’s best to start now. And we can help!
***Please note for average days on market this number does include the days it’s “Under Contract.” The only time days on market stops is when the home is in “Pending” Status.
Our Caniglia Group team is passionate about assisting you in finding your dream home in Arizona’s Downtown Phoenix, North Central Phoenix, and Scottsdale areas. If you’re looking to make a move, have any market stats questions, or just want some more information about homes available in the area, you can contact our dedicated team of real estate professionals today at 602-903-7220. And don’t forget to follow along with our blog for more Arizona real estate market updates coming soon!