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Keller Williams Arizona Realty
As the Market Turns!
* Sales volumes are up 66% over the same time period last year.
• Pending sales are up 79% over the same time period last year.
There has been an interesting pricing trend over the past month. We have been observing the average price per square foot for foreclosed properties gradually increasing, but there are some interesting new developments this week.
• The price per square foot for foreclosed properties increased another 1.8% over the past 30 days.
• The average price per square foot for short sales increased 1.6% over the past 30 days.
• The truly remarkable number is that the average price per square foot for equity seller properties, which we had seen continually declining, actually increased by 2.4% over the last 30 days, which is significant.
The trend in pricing will be something to watch closely in the coming weeks.
Current Conditions in the Phoenix Market:
• There are 26,419 single family detached listings currently on the market in MLS. That is an increase of 182 listings from last week.
• There are 33,965 total listings on the market in MLS, which includes town homes, patio homes, and condos.
For additional information, or to view properties for sale, visit www.PacellaGroup.com
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