November 2017 saw a significant, encouraging single-month 3.9% jump in average sold price for Metro Phoenix homes, to $308,500. Typically, prices flatten or even dip during the last quarter of a year, so this bodes well for sellers in 2018. Year over year, this is a 9.6% jump in price, back to within 12% of peak 2007 values. Demand trends are also encouraging, on pace to round out the year with more MLS sales than any other year since 2011. Homes are selling at a brisk pace, still in less than two months on average, and inventory is down 6% from a year ago. Arizona is a hotbed for exciting tech startups and migration destination of established companies alike, bolstering its job market, population, real estate values, and future.
Raw Data Source: ARMLS