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How did our October 2017 market compare to what happened in October 2016?
Here are how the latest statistics stack up:

• The number of homes that came on the market dropped from 10,026 to 9,842, which is a 1.8% decrease.
• The number of total active listings dropped from 22,962 to 21,410—a 6.8% decrease.
• The number of total homes sales rose from 7,097 to 7,393, which is a 4.1% increase.
• Our supply of inventory dropped 11.5% from 3.24 months to 2.9 months. Remember—when you have a six-month supply or greater, you’re in a buyer’s market. Anything below six months generally constitutes a seller’s market.
  

Because there are more homes selling, fewer homes for sale, and fewer coming onto the market, we’re in a seller’s market in most neighborhoods in the greater Phoenix area.
If you or anyone you know are interested in buying or selling in this market, don’t hesitate to give me a call. I’d love to speak with you.