Community Property Type Price Min Price Max Beds Baths

Market Update – Highlights from RL Brown

Market Update – Highlights from RL Brown

1/25/2008

The following data points are courtesy of Arizona real estate analyst RL Brown, from a luncheon seminar held on 1/23/08.

Median Home Prices: The current median home price in Maricopa County is $237,000. This is down from the $265,000 a year ago.

Inventory Snapshot:

  • 6,000 New Home Specs
  • 45,000 Foreclosures or REO’s
  • 10,000 Investor Held
  • 118,000 Resales
  • 17 month supply of inventory

New Construction: There are 61,136 vacant lots in Metro Phoenix.

2007 Resale Closings: There were 38,900 resale closings in 2007. While this number was far below the inflated figures of 2006, it was still ranked #4 in the nation!

Closing Projections for 2008-2012:

  • 34,000 in 2008
  • 34,000 in 2009
  • 39,000 in 2010
  • 44,000 in 2012

Share

Leave a Comment

Tell us what you think about this post and if you want to show a picture of yourself, follow the link to get a gravatar.

You must be logged in to post a comment.