Phoenix real estate market update
Well not much has changed! Phoenix real estate listing inventory went up slightly and sales dropped slightly. We are now sitting at a 5.3 months of supply Valley Wide. Please notice that the September numbers are posted. Remember that is the Maricopa County sales for re-sale and new construction. It won’t reflect in the graph. The graph represents all MLS numbers which could include Pinal and Yavapai counties.
The Phoenix real estate market remains very hot for homes under $400,000
Currently the market breaks out at 47% REO sales, 20% Short Sales, and 32% Normal Sales for the last 30 days. Still 94% of the sales are under $400,000.
Below is the breakdown of Months of Supply by area. If you appreciate this information please send us an escrow! I promise we will do a good job!
Scottsdale 9.5, Ahwatukee 4.7, Apache Junction 5.5, Camelback Corridor 8.5, Cave Creek 10.3, East Valley 4.2, Fountain Hills 9.8, Goodyear Litchfield, Avondale 3.1, Northwest 4.5, Peoria and Glendale 3.0, Paradise Valley 18.8.
Would you like to buy Phoenix real estate 10% to 20% below market value? Call our office at (602) 291-4362.
Thank you for the update. I appreciate being able to get a feel for the markets around the country.