Wednesday, January 6, 2010

Real Estate Market Update - Phoenix, Chandler, Scottsdale, Paradise Valley, Arizona

Real Estate Market Update - Phoenix, Chandler, Scottsdale, Paradise Valley, Arizona

As of the end of December, 2009.

  • Total SFD sales for the year will be about 93,000 the 3rd best year on record behind 2004 and 2005, and 55% higher than the 60,108 of 2008.
  • Sales of December 2009 with 7573 are 55% higher than December of 2008 which had 4873.
  • At the end of 2009 we have a 3 1/2 month supply of homes compared to an 8 3/4 month supply at the end of 2008.
  • We currently have 26,169 homes for sale compared to 43048 at the end of 2008.
  • With increased sales volume came stabilized and improving pricing as we hit the low median price of $115,500 in April, and improved to $130,000 in November, a 12.5% jump. This stabilizing was mostly in the lower price ranges.
  • There is still no solution for Jumbo Financing which continues to affect price stability of the $500K and up market.
  • However, the luxury market of Paradise Valley finished the year strong with 34 closes in the month of December and about a one year supply of homes. This compares to the Scottsdale $1M+ supply of about 2 years.


The comparison of current active listing change is based on the previous reports' inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.

Phoenix is searched as a single entity.
West Valley is Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye, and Tolleson.
NE Valley is Scottsdale, Paradise Valley, Fountain Hills, Cave Creek, and Carefree.
SE Valley is Tempe, Mesa, Gilbert, Apache Junction, Queen Creek, and Chandler


MLS Market Statistics-Breakdown by Area.

  • Inventories are down 1% from the last report.
  • Total of 26169 active listings with 7573 closings in the last month.
  • About a 3 1/2 month supply.

Phoenix.
Inventories are unchanged from the last report.
Total of 5268 active listings with 1802 closings in the last month.
About a 3 month supply.

West Valley.
Inventories are unchanged from the last report.
Total of 6130 active listings with 2204 closings in the last month.
About a 2 3/4 month supply.

SE Valley.
Inventories are down 2% from the last report.
Total of 5908 active listings with 1895 closings in the last month.
About a 3 month supply.

Scottsdale over $1m.
Inventories are down 4% from the last report.
Total of 955 active listings with 40 closings in the last month.
About a 24 month supply.

Scottsdale under $1m.
Inventories are down 2% from the last report.
Total of 1813 active listings with 364 closes in the last month.
About a 5 month supply.

Paradise Valley.
Inventories are down 5% from the last report.
Total of 433 active listings with 34 closes in the last month.
About a 12 3/4 month supply.

NE Valley.
Inventories are down 3% from the last report.
Total of 4047 active listings with 550 closings in the last month.
About a 7 1/2 month supply.

SE Valley.
Inventories are down 2% from the last report.
Total of 5908 active listings with 1895 closings in the last month.
About a 3 month supply.

Scottsdale over $1m.
Inventories are down 4% from the last report.
Total of 955 active listings with 40 closings in the last month.
About a 24 month supply.

Scottsdale under $1m.
Inventories are down 2% from the last report.
Total of 1813 active listings with 364 closes in the last month.
About a 5 month supply.

Paradise Valley.
Inventories are down 5% from the last report.
Total of 433 active listings with 34 closes in the last month.
About a 12 3/4 month supply.


source: Karl Stauffer

No comments:

Post a Comment