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Ocotillo Realty Team at Realty One Group

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Ocotillo Realty Team at Realty One Group

  • Buy/Sell
  • Market Update
  • About
  • AZ Lifestyle & Neighborhoods

October Market Update

October 7, 2024 Kirsten Snyder

Active listings on October 1, 2024, saw a 47% increase from last year, reaching 19,643, and a 6.6% rise from last month. Listings under contract rose 9.1% in September and are 11.7% higher than this time last year, showing slow but steady progress. Despite sales volumes being low, there's a notable increase in homes under contract, signaling potential improvement in October closings.

Prices have remained stable, with the median sales price up 2.3% from last year. Supply continues to rise, giving buyers favorable negotiating power, but we expect this to shift by year-end as supply levels off.

The contract ratio is still balanced, but a slight increase signals improving conditions for sellers.

← East Valley Adventuring *plus* GIVEAWAY The Long-Term Impact of Population Growth on Real Estate Pricing in Maricopa County →
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Kirsten Snyder 602-505-0860 ocotillorealtyteam@gmail.com Serving Phoenix Valleywide (AZ)

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