Maricopa County sees increase in inventory

By Lisa Baker | Peoria Times 

The first month of 2021 saw 293 MLS listing sales close in Glendale and 289 in Peoria. Today there are 117 active and available listings (not counting properties already under contract or pending close of escrow) in MLS in Glendale and 103 in Peoria. That’s 40% of one month’s inventory in Glendale, up from 30% in December and 28% down from 34.3% of one month’s inventory in Peoria. Today’s Maricopa County inventory is 54.3% of January’s closed sales, up from 49.6% in December. In Maricopa County, the days a listing spent on the market rose slightly from 41.39 to 43.62.

While it looks like Glendale and Maricopa County overall have seen an increase in available inventory, that data needs to come with a little perspective. According to Cromford Report data, the number of available Maricopa County listings in January 2021 was down 18% from December 2020 and over 50% from January 2020. And Cromford Report data continues to track month-over-month increases in the average final sale price per square foot, with January 2021 sale prices up 1.8% from December 2020 sales, consistent with the roughly 2% month-over-month increases we saw in the last quarter of 2020.

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