If you need assistance, please call 602-410-0827

May 3, 2022 Market Update

Tuesday, May 3, 2022   /   by Bryan Baylon

May 3, 2022 Market Update

The supply situation has changed a lot in percentage terms since the beginning of April. Although the number of active listings remains low by long term standards, a few segments of the market have seen buyers suddenly faced with almost twice as many homes to choose from.

Here is how it varies by price range for single-family detached homes:

  • Homes under $400,000 have increased from 638 to 644 (+1%)
  • Homes between $400,000 and $500,000 have increased from 874 to 1,118 (+28%)
  • Homes between $500,000 and $600,000 have increased from 586 to 878 (+50%)
  • Homes between $600,000 and $800,000 have increased from 632 to 893 (+41%)
  • Homes between $800,000 and $1,000,000 have increased from 312 to 431 (+38%)
  • Homes between $1 million and £1.5 million have increased from 268 to 364 (+36%)
  • Homes between $1.5 million and $2 million have increased from 92 to 171 (+86%)
  • Homes between $2 million and $3 million have increased from 90 to 151 (+68%)
  • Homes over $3 million have increased from 234 to 254 (+9%)

These numbers are for active listings without a contract. That is, they exclude UCB and CCBS active listings.

We can see it is the price range from $1.5 million up to $3 million that has experienced the largest increase.

It is unusual to see such large percentage increases and extremely unusual for them to occur during April.


Market incites provided by the Cromford report.

Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085
602-410-0827

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Bryan Baylon - Keller Williams Northeast Realty are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. June 17, 2024
This site powered by CINC: www.cincpro.com