Our local real estate market typically cools off going into fall — much more than our weather. And while we are seeing some numbers starting to change slightly like autumn leaves, there is no strong indication that we will see a significant drop anytime soon.
The average number of days a listing spent on the market in Maricopa County increased again slightly, from 26.05 days in July to 27.2 days in August.
According to The Cromford Report, 53% of sales closed in Maricopa County during August sold for over the listing price, down from 57% of July sales. One could argue that rising list prices account for more sales selling at and not over those prices, but a slight drop in sales price per square foot — from $260.60 per square foot in July versus $258.61 in August — makes a slightly different point.
August saw 416 MLS…