Arizona real estate has been pretty flat for a while so I haven’t posted any updates. But there are a few interesting things I noticed this week.
Median prices have already exceeded their highs of 2023. This is interesting because this usually occurs a little later in the year.
![](https://jeremywhittaker.com/wp-content/uploads/2024/02/image-4-1024x562.png)
However, average sales prices have not done the same.
![](https://jeremywhittaker.com/wp-content/uploads/2024/02/image-5-1024x560.png)
Price cuts should be reducing this time of year but they are not. They are going up showing sellers are more willing to negotiate.
![](https://jeremywhittaker.com/wp-content/uploads/2024/02/image-6-1024x598.png)
Days of inventory are now higher than they were in 2023 and are about to surpass 2022’s highs if they continue.
![](https://jeremywhittaker.com/wp-content/uploads/2024/02/image-7-1024x555.png)
Which is also listed in the average weekly listing counts. These are accelerating into the new year when they should be moving in the opposite direction.
![](https://jeremywhittaker.com/wp-content/uploads/2024/02/image-8-1024x573.png)
And finally, annual sales rates are at their lowest levels since 2014. Which show no signs of letting up until interest rates go down.
![](https://jeremywhittaker.com/wp-content/uploads/2024/02/image-9-1024x551.png)
For more details here is a link to my dashboard