Real Estate Market Statistics Archives - Page 13 of 13

Phoenix Rental Statistics September 2013

September 6, 2013 By Nathan Mitchell

Phoenix Rental Statistcs September 2013.

This data on the Phoenix rental statistics is compiled from the Arizona Regional MLS and consists of the Valley’s single family home rental market. As shown, the median lease price is currently $1,100, the average lease price is $1,260. The average time on the market for Phoenix rentals continues to stay low at 38 days. The Rent Check Quotient™ is derived by dividing the number of leases for the month, by the number of closed sales, as reported in our monthly sales statistics report.

Phoenix Rental Statistics September 2013 – Average Closed Leases

Phoenix Rental Statistics September 2013

– Closed Rental Units Per Month

The upward trend in leasing activity continues, as seen by the average units per year and closed monthly units here in the Valley. This activity confirms the continuing and increasing need for rental homes here in Arizona, especially for those who are displaced by short sale or foreclosure of their own homes. As we begin to wind down our distressed sales here in the Phoenix metro area, we may begin to see a flattening and perhaps a decrease of closed rental homes.

August 2013 Real Estate Statistics for Phoenix Arizona

September 3, 2013 By Nathan Mitchell

August 2013 Real Estate Statistics for the

Arizona Regional Multiple Listing Service

August 2013 Real Estate Statistics – Monthly Sales for the August 2013 report (July numbers), almost a 15% rise year over year. Sales have leveled, month to month, which is typically expected, this time of year.

Total inventory is beginning to rise on a monthly basis, as shown here, with total active and active under contract homes.

As of today, the total number of single family homes for sale in the Phoenix metro area that are not under contract is 14,526. The total number of homes for sale in the Valley that are not under contract is 18,159.

Total months supply of homes for sale in Phoenix is still at an amazing low of 2.85, although it is beginning to creep up, as inventory rises.

As the average list price might suggest, we may start to see some leveling off of list prices as our inventory begins to rise.

We have had a very healthy run of sales price increases for some time now. Again, as inventory rises, we may start to see some leveling off of closed sales.

Pending foreclosures in Phoenix, continue their steady decline, as we make our way back into a more balanced, healthy market.

This is an overview of the health of the Phoenix, Arizona real estate market. Click here for the full report. If you would like to learn more about your own market area, such as the city or town that you live in (Chandler, Gilbert, Mesa, Queen Creek, etc…) or even the market statistics for your subdivsion, please let us know. Just click below and we will help you become more informed.

Arizona Short Sales – Foreclosures – July 2013

August 2, 2013 By Nathan Mitchell

Arizona Short Sales - Foreclosures - July 2013

Short Sales -Foreclosures – July 2013

The Arizona Short Sales – Foreclosures – July 2013 report is in. This month’s report portrays the continuing downward trend in short sales and foreclosures (aka Bank Owned or REO properties) here in Arizona and particularly the Valley. The areas included for the Arizona Short Sales – Foreclosures – July 2013 report are Chandler, Gilbert, Mesa, Phoenix, Queen Creek, San Tan Valley, Phoenix, Scottsdale and Tempe, Arizona.

Arizona Short Sales – Foreclosures – July 2013 – Let’s take a look at the total number of distressed sale units by City:

Chandler – 41 Homes for sale
Gilbert – 57 Homes for sale
Mesa – 132 Homes for sale
Phoenix – 286 Homes for sale
Queen Creek – 24 Homes for sale
San Tan Valley – 47 Homes for sale
Scottsdale – 67 Homes for sale
Tempe – 25 Homes for sale

Short Sales - Foreclosures - July 2013

Concentrations of active short sales across the Valley in Arizona, by zip code.

Short Sales - Foreclosures - July 2013

Foreclosures for the Valley, here in Arizona. July 2013.

Declining Supply of Distressed Home Sales in Arizona

This report reinforces the fact that the distressed home sale market in Phoenix, Arizona is continuing to decline, while normal or traditional sales continue to play an even larger role in the overall real estate market. The ever increasing numbers of traditional home sales here in the Valley corresponds to the continued rise in home values, especially as the inventory for homes for sale here in Phoenix, Arizona continue to stay at record lows. To see an overview of the Phoenix real estate market for July, including the total distressed sales year over year summary, click here.

These number are compiled by the Arizona Regional Multiple Listing Service on a monthly basis. See the Distressed Sales Report, including an interactive map in it’s entirety.

If you would like a detailed, confidential market anyalysis of your home, click below.

July 2013 Rental Statistics

July 24, 2013 By Nathan Mitchell

July 2013 Rental Statistics – These are monthly statistics reported by the Arizona Regional Multiple Listing Service, also known as ARMLS. These rental statistics cover the entire Phoenix metro area, including Chandler, Gilbert, Mesa, Scottsdale and Tempe, Arizona. If you are a real estate investor or are considering buying a home in Phoenix to hold as an investment to rent or lease out, then these numbers can be of great value to you in your research efforts.

Closed Rental Units Per Month Phoenix Arizona – July 2013 Rental Statistics

July 2013 Rental Statistics Graph

The above graph shows the closed rental units per month for Phoenix Arizona, ranging from 2001 until present day. As you can see, the total number on a monthly basis has been on a steady increase. These numbers reflect the what has happened in the real estate housing market up until and since the downturn. As more homeowners lost or sold their homes, there has been a greater need for rental homes. With the increase in demand for rental homes in Phoenix, investors increased their inventories to accommodate.

July 2013 Rental Statistics – The Numbers

July 2013 Rental Statistics - The Numbers

The July 2013 Rental Statistics numbers show a current median lease price of home in the Phoenix Metro Area of $1,100 per month. The average lease price is $1,269. The average days on market for a rental in Phoenix stands at 38, this indicates a steady demand for rental homes. If we start to see an increase in days on market, this could eventually lead to a glut of homes on the market. The current numbers leave no indication of that. All in all it appears that inventory is matching demand.

For a copy of the report in it’s entirety, click here.

Market Statistics July 2013 – Phoenix, AZ

July 20, 2013 By Nathan Mitchell

Market Statistics July 2013 – Phoenix, AZ

The Market Statistics July 2013 – Phoenix, AZ post includes real estate market statistics for the surrounding cities, which we collectively call “The Valley.” These cities include (not limited to) Chandler, Gilbert, Mesa, Phoenix, Queen Creek, San Tan Valley, Tempe and Scottsdale, Arizona.

Monthly Sales

Month over month home sales in the Valley dropped off by 12.8% from May, down to 8,228 total units. It’s very typical to see some decline in home sales this time of year as temperatures can hit the mid 110’s. More than likely we will see a little more slow down when we see the July numbers. Year over year numbers are up slightly by 1.2%.

Monthly Sales Market Statistics July 2013 - Phoenix, AZ

New Inventory

New home inventory is also down for the month of June, as many potential sellers may have escaped the Valley for cooler weather.

New Inventory Market Statistics July 2013 - Phoenix, AZ

Total Inventory

Total home inventory for the Phoenix area has remained fairly flat over the past few months. Coupled with low average market times, this reflects continued buying demand.

Total Inventory Market Statistics July 2013 - Phoenix, AZ

Average Days on Market

Average Day on the Market Market Statistics July 2013 - Phoenix, AZ

Active vs UCB

The total number of active homes for sale that are not under contract has come in at 15,725. The total number of active homes that are under contract and accepting backups are at 3,786, which is 19% of the total actives.

Active Homes vs UCB Homes Market Statistics July 2013 - Phoenix, AZ

Months Supply Of Inventory

The months supply of inventory of homes for sale ticked up a bit to 2.37. This figure is based on how many months it would take to deplete our inventory based on current buying demand.

Pending Foreclosures

Pending foreclosures continue their downward trajectory. This long term downward trend should ease many concerns about the impending shadow inventory. Pending Foreclosures Market Statistics July 2013 - Phoenix, AZ

Distressed Sales

Distressed home sales are also down year over year in the Valley. A great indicator of continuing strengthening of the real estate market here in the Phoenix area.

Distressed Sales Market Statistics July 2013 - Phoenix, AZ

Market Statistics July 2013 – Phoenix, AZ – Click here for the entire report.

If you would like a free market analysis of your home and to find out what your home is worth, let us know below. We are happy to help you and will contact you shortly.

Phoenix and Mesa Arizona #1 In List Price Increases

May 17, 2012 By Nathan Mitchell

As stated in a recent Realtor Magazine article, Phoenix and Mesa, Arizona have been listed as the #1 leader in the housing recovery this month of May. Specifically, the median list price of homes for sale in Phoenix and Mesa, Arizona have increase by almost 27% from the first quarter of last year to the first quarter of this year. The increase in listing prices here in Arizona are due in large part to the current shortage of homes available for sale. With increased buying activity and less homes available, prices are quickly increasing. Now is a great time for homeowners to sell if they have been waiting for price increases.

Phoenix Rental Statistcs September 2013.

Phoenix Rental Statistics September 2013 – Average Closed Leases

Phoenix Rental Statistics September 2013

– Closed Rental Units Per Month

August 2013 Real Estate Statistics for the

Arizona Regional Multiple Listing Service

Short Sales -Foreclosures – July 2013

Declining Supply of Distressed Home Sales in Arizona

Closed Rental Units Per Month Phoenix Arizona – July 2013 Rental Statistics

July 2013 Rental Statistics – The Numbers

Market Statistics July 2013 – Phoenix, AZ

Monthly Sales

New Inventory

Total Inventory

Average Days on Market

Active vs UCB

Months Supply Of Inventory

Pending Foreclosures

The Latest Listings