Loading ...Courtesy of Barb Savoy-Pacella, ABR, CNRS, CHMS
Director of Business & Career Development
Keller Williams Arizona Realty
Here we go! The moment we’ve all been anticipating! Would we see the traditional rise in pending sales anticipated to begin the third week in January annually, or would the “shadow inventory” of foreclosures flood the market?
The results are in. According to the Cromford Report:
* Pending listings are up 5% over the past week.
* It is also anticipated that January will see the fewest notices of trustee sale in approximately 20 months.
During the same week in 2009, we had approximately 20 months of active inventory, versus approximately 7 months in 2010. Additionally, the average sale price per square foot (Valley wide and all dweling types), increased by $2.00 per square foot in the past month.
All of these are certainly positive indicators and reasons to be optimistic.
Current Conditions in the Phoenix Market:
* There are 27,448 single family detached listings currently active in MLS. That is an increase of 128 listings over last week.
* There are 35,015 total listings, including all dwelling types (including condos, patio homes, town homes and lofts).
To view homes for sale, or for additional information visit www.PacellaGroup.com or phone (602) 908-0373.
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