Real Estate Market Update | Metro Phoenix | Quarter 4, 2023 vs Quarter 4, 2022

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Metro Phoenix

Average Sales Price: 2022 – $939,953 vs 2023 – $1,001,591 = 7% increase
Average Days On Market: 2022 – 41 vs 2023 – 64 = 56% increase
Average Sale Price Per Square Foot: 2022 – $382 vs 2023 – $363 = 5% decrease
Sale to List Price Ratio: 2022 – 98.63% vs 2023 – 96.79% = 2% decrease
Number of Sold Listings: 2022 – 6,537 vs 2023 – 5,268 = 19% decrease
Months Supply of Inventory: 2022 – 1.49 vs 2023 – 1.54 = 3% increase
Mortgage Rate: 2022 – 6.74% vs 2023 – 6.90% = 2% increase

Top 10 Sales

$23,500,000 5636 E Mockingbird Ln, Paradise Valley
$18,000,000 5665 E Caballo Dr, Paradise Valley
$13,250,000 5113 N Wilkinson Rd, Paradise Valley
$13,000,000 6101 N Yucca Rd, Paradise Valley
$12,949,999 3700 E Camino Sin Nombre, Paradise Valley
$12,500,000 5104 N Wilkinson Rd, Paradise Valley
$12,300,000 5029 E Desert Park Ln, Paradise Valley
$12,000,000 6659 E Indian Bend Rd, Paradise Valley
$11,550,000 7070 N 59th Pl, Paradise Valley
$11,000,000 5029 E Desert Park Ln, Paradise Valley

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