Real Estate Market Statistics May 2014 – Phoenix

May 13, 2014 By Nathan Mitchell

Real Estate Market Statistics May 2014 – Phoenix, Arizona

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Monthly Home Sales for Phoenix, Arizona May 2014

Real Estate Market Statistics May 2014 – Phoenix Monthly Sales

Homes sales in the Phoenix area are down, predictably, year over year. This continues to signify a lower buyer demand for homes in the Valley.

New inventory for resale homes

Real Estate Market Statistics May 2014 – Phoenix New Inventory

New inventory for resale homes is down and should start to flatten out as we move closer to summer.

Total inventory for resale homes

Real Estate Market Statistics May 2014 – Phoenix Total Inventory

Total inventory for resale homes remains flat month over month, up almost 50% year over year.

Active inventory vs. homes under contract (UCB)

Real Estate Market Statistics May 2014 – Phoenix Actives vs. UCB

Months supply of inventory

Real Estate Market Statistics May 2014 – Phoenix Months supply of inventory

New list prices

Real Estate Market Statistics May 2014 – Phoenix New list prices

Sale Prices

Real Estate Market Statistics May 2014 – Phoenix Sale prices

Sales Price Forecast

Real Estate Market Statistics May 2014 – Phoenix Sales price forecast

Pending foreclosures

Real Estate Market Statistics May 2014 – Phoenix Pending foreclosures

Distressed sales

Real Estate Market Statistics May 2014 – Phoenix Distressed sales

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While home buying demand is still down, we are seeing fewer and fewer distressed sales each month. This is a great indication of the real estate market getting healthier overall. 90% of homes sold in the Valley are normal sales.

Average days on the market

Real Estate Market Statistics May 2014 – Phoenix Average Days on Market

We are seeing what appears to be a balancing of the market, with monthly supply staying under 4 months and days on market flattening out.

Buyer demand continues to be a question mark in the current real estate market. There is definitely potential for a greater influx of home buyers:

Retiring baby boomers
Boomerang buyers (buyers with a previous short sale or foreclosure)
First time home buyers

We can only wait and see what factors will come into play that will help these potential buyers to decide to enter the real estate market and purchase a home.

September 2013 Real Estate Statistics – Phoenix

September 18, 2013 By Nathan Mitchell

September 2013 Real Estate Statistics for Phoenix, Arizona

Monthly Home Sales for Phoenix

September 2013 Real Estate Statistics:

Monthly home sales for Phoenix, Arizona and the metro area are down just over 14.1% month over month. Home sales are down year over year as well, with a 6.9% drop. While we don’t like to see home sales fall, this is nothing to be alarmed about yet. We’ll have to continue to watch the sales numbers in order to see if there is a developing trend.

New Inventory (New Listings)

As you might expect, inventory tends to rise, as home sales in the Valley start to slow.

Total Home Inventory

Months Supply Of Inventory

Months supply of (home for sale) inventory has risen to 3.03. Here in Arizona, the Phoenix Metro area, a 6 months supply of inventory is often considered a balanced market. We are quite a ways away from having 6 months of inventory at this point.

New Inventory List Prices

September 2013 Real Estate Statistics: New List Prices

While the year over year numbers for new list prices are up substantially, we’re starting to see a bit of flattening over the past few months.

Home Sale Prices – Phoenix Arizona

Home sale prices are up year over year, we may start to see some flattening and/or softening if sales continue to slow.

Home Pricing Forecast September 2013

Pending Foreclosures September 2013

September 2013 Real Estate Statistics: Pending Foreclosures

Pending foreclosures continue their decline with the overall strengthening of the real estate market.

Distressed Home Sales

Home Sales Average Days on Market – September 2013

Overall, we’re beginning to see some slowdown in sales as we move into the fall months of 2013, which is typically expected. We should start to see more slowing, getting into the holidays. This news can be good for potential buyers who have been taking a “wait and see” approach on whether or not to enter the real estate market. With the slow down in sales, buyers will begin to see more available homes and will have more potential homes to choose from, without the fear of having multiple offers on every home they see.

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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.