This is a monthly overview of market statistics for Maricopa County.
Current Interest Rates have been slightly dropping during the month of December. A 30 year fixed Conventional loan is at 6.50%, while a 15 year fixed conventional loan is at 5.84%. A 30 year FHA loan is at 6.12% and a Jumbo loan is at 5.70%. Closing out the most common loans is the Adjustable 5/1 ARM currently at 6.20%.
Sales by common types for December 2022 total 5,137. Broken down by cash 1,237; total conventional 2,487; FHA 700 and VA 339. The average sale price is at $516,491 and the number of properties sold was 5,137. Average days on the market is at 66 days and there were 4,073 properties under contract. There was a total of 16,884 active/coming soon listings for December. Overall sale prices were down 2.6% while sold properties were down 44.8%, followed by contracts being down 42.4%.
The Luxury market remains unaffected at this time and is considered strong. So if you are considering selling your luxury home or in the market to purchase one, don’t hesitate as now is the time for you.
Contact us for area specific market data or for information about buying or selling a home. Do you want to know the value of your home in this changing market? We can provide that value for you as well.