Total active listings,(with no AWC) have picked up by 1116 units over the last month. As of September 23rd, we sit at 15,228 Actives All Property Types. Sales are at 7089 for the last 30 days (as of September 23rd), down by 301 units from one month ago! We are currently sitting at a 2.1 months of supply, (based on Active listings with no AWC). Pending sales are down slightly from the month before as of September 23rd, 10,529 vs one month ago at 10,955 . Traditionally, 3-4 months of supply indicate a balanced market. Now is the time to list your home!
August 2012 re-sales a
nd new sales in Maricopa County were 8280 in July 2012 there were 8050. Compared to August 2011 8446. That is a (5.0%) decrease! The median price in Maricopa County for July 2012 was $150,000 in August 2012 it was $155,000. This marks a 3% increase. August 2011 it was $118,500 for a 31% increase! In August 2007 it was $253,000 and in August 2001 it was $141,682!
Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 28% of the Closings for the last month, and 31% of the active listings for a 3.3 Months of Supply. If you take the AWC’s out we drop down to .5 months of supply! Distressed Sales (Short Sales and REOs combined) accounted for 41% of the total sales for in the last month. REO property sales equal to 13% of the sales for the last month. The listing success rate for Short sales is 67% ! Don’t avoid these listings! They are closing with greater success rate!
Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 7% absorption rate for the last month. Only 59 properties in all of the MLS were sold for more than $1.0 million.
Click on this link to get the Market Update Graphs by Area
MONTHS OF SUPPLY (with AWC listings) (Single Family Only)
East Valley:2.3
Northwest:2.9
Paradise Valley: 10.2
Luxury ($1mil+): 15.1
Southwest:3.0
Peoria/Glendale: 2.1
Camelback Corridor:2.4
Cave Creek: 1.4
Ahwatukee:2.4
Scottsdale: 4.2
Apache Junction:33
Fountain Hills: 3.9
Buckeye:2.5
Desert Ridge & Tatum Corridor: 2.1
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