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Data Junkies Rejoice – Latest Greater Phoenix Real Estate Stats

More Cities Become Buyer’s Markets

On August 10th, we posted a LUXE BLOG detailing the first three Greater Phoenix cities (out of its 17) that had recently entered “Buyer’s Market” status’. Those 3 cities were: Maricopa, Queen Creek, and Buckeye. According to data from the Cromford Report, as of August 25th, 2022, four more cities have entered into Buyer’s Market territory. These cities are: Chandler, Tempe, Surprise, and Gilbert.

How Are Market Status’ Determined?

The Cromford Report uses what is called The Cromford Index. This index determines the status of a market. The “CMI” looks at many points of data including inventory levels and buyer demand.

  • 0-90 is considered a buyers’ market
  • 90-110 is a balanced market
  • 110-500 is a sellers market

4 Cities Remain Seller’s Markets

As expected, the four highest end cities in Greater Phoenix remained in Seller’s Market status (some by far). These four were: Paradise Valley, Fountain Hills, Scottsdale, and Cave Creek.

6 Cities Are Balanced Markets

The six cities that fell into balanced market status (as of late August 2022) were: Phoenix, Goodyear, Mesa, Glendale, Avondale, and Peoria.

The Overall Breakdown Is As Follows

As of August 25th 2022

  1. Paradise Valley – CMI 190.1
  2. Fountain Hills – CMI 186.8
  3. Scottsdale – CMI 131.4
  4. Cave Creek – CMI 128.1
  5. Phoenix – CMI 100.2
  6. Goodyear – CMI 98.7
  7. Mesa – CMI 94.8
  8. Glendale – CMI 93.8
  9. Avondale – CMI 91.4
  10. Peoria – CMI 90.2
  11. Chandler – CMI 88.5
  12. Tempe – CMI 84.9
  13. Surprise – CMI 83.2
  14. Gilbert – CMI 76.2
  15. Maricopa – CMI 66.5
  16. Queen Creek – CMI 56.5
  17. Buckeye – CMI 53.5

What Does This All Mean?

That things have changed, and will continue to change, for the foreseeable future. And what’s the BEST way to navigate such a market? Via working with an experienced boutique team with 100+ years combined experience and $1+ billion in sales, that’s how. Williams Luxury Homes is here when you’re ready to get into some more data, or, better yet, into a piece of real estate at the right time. Thanks for reading.

Also Read: Why Are So Many Wealthy People Moving To Arizona’s Paradise Valley

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