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Today I'll be providing you with a brief real estate market update for Phoenix and the surrounding areas. You should know that the market stayed relatively flat in August, but let's go over some numbers real quick.
-There are 19,000 homes on the market, an 18% drop from last year.
-Pending listings are up 5.2% from last year.
-There were 7,500 sales this August, which is up 9% this year but down 12% since July.
-Median sales price is $208,000.
Overall, we're seeing a slight tilt back towards a seller's market, but we're still seeing a large buyer's market in most price ranges.
One other interesting thing is that the number of Canadian buyers in our market is falling. They are usually a large part of our market, but even without them, we're still putting up big numbers.
As always, please don't hesitate to contact me with any questions about buying or selling real estate in Phoenix!