Arizona February Real Estate Updates. Short Sales are still hot.

Current Statistics
(from the Cromford Report as of 2.8.10):

Current Active Short Sale Listings: Pending Short Sale Sales: Short Sale Sales for the last 30 days: Short Sale Sales have increased by $/SqFt for all sales for the last 30 days: $/SqFt for Short Sales for the last 30 days: $/SqFt for REOs for the last 30 days: Short Sales currently represent

15,442 3,781 1,373 +212% * $90.72 $84.81 $68.97 23%**

* over last year Month for Month
** of the sales for the last 30 days

The Active listings have gone up and sales have dropped slightly leaving the Valley at a 6.7 Months of Supply
Pending sales are way up at 11,412 which tells us that closing will go back up.

Right now

• 46% of the sales are REO properties
• 23% are short sales
• 31% are normal sales
• 92% off sales are under $400,000
  

The Breakdown for months of supply by area:

Valley Wide Scottsdale Ahwatuke Apache Junction Camelback Corridor Cave Creek East Valley Fountain Hills Goodyear $1.0 Plus Northwest Valley Peoria and Glendale Paradise Valley

6.7 11.0 9.0 4.8 10.7 9.8 6.2 13.2 4.6 27.1 5.7 5.3 20.4

Residential Market Update: Percentage
of Distessed Properties / February 2010

REO, Short Sale and Normal are Single Family Residences only
OTHER includes all non-Single Family Residences (Land, Commercial, Condo, etc).

Residential Market Update: East Valley
February 2010

Data Used:
Cities: Chandler, Tempe, Gilbert, Mesa
Single-Family Residences
Chandler: A:1531; P:409; C:243
Tempe: A:490; P:111; C:74
Gilbert: A:1804; P:549; C:274
Mesa: A:2581; P:762; C:439

Residential Market Update: Luxury Homes
January 2010

Data Used:
Single Family Residences
"Luxury" properties include those listed at $1,000,000+

Residential Market Update: Paradise Valley
February 2010

Data Used:
City: Paradise Vally
Single Family Residences

Residential Market Update: Scottsdale
February 2010

Data Used:
City: Scottsdale
Single Family Residences

Information deemed reliable but not guaranteed