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Coldwell Banker Residential Brokerage
Visit our web site at www.PacellaGroup.com to view listings or for more information.
The Phoenix, Arizona market certainly isn’t dull these days. Reviewing year over year data for the same time period last year, we can see that pending sales are up 58% and closed transactions, or sold properties have increased 63%.
The Cromford Report has pointed out some interesting trends in the market over the past several weeks. Foreclosed properties, being sold by the lender, are decreasing their percentage of market share in transactions closing each month, but their average price per square foot is beginning to increase. Short sales are grabbing an increased market share, but their average price per square foot is remaining flat. Seller owned properties are seeing sales remain flat, and the average price per square foot is decreasing.
CURRENT CONDITIONS IN THE PHOENIX MARKET:
There are 24,209 single family detached listings actively on the market today. That is an increase of 34 listings for the week.
Total listings, including condos, patio homes and town homes active in MLS today are 31,473.
We are still seeing the driving force of the market listed under $400,000 and are still seeing investors coming into the market place.
The absorption rate and months of supply are still varying vastly throughout the Valley. Please contact us at www.PacellaGroup.com for information regarding specific locations.
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