Phoenix Real Estate Update: 4/16/12
Greater Phoenix Real Estate Update: 4/16/12
The following stats are sourced from the Arizona Regional Multiple Listing Service (ARMLS) as of 4/16/12.
The data includes residential properties (houses, patio homes, town homes, and patio homes). It excludes land, multi-family properties (2+ units), commercial properties, mobile homes, and timeshares.
The search area covers a 40-mile radius centered on Phoenix Sky Harbor Airport, creating a circle with an 80-mile diameter.
The red number in “(brackets)” represents the results from the last report that I posted to this blog.
A certain (unpredictable) number of properties at any given time are considered over-priced and/or inherently flawed in some way, such as locational or characteristic defects. These are the homes that will be the last ones to sell at any given time and will require the most discounting to clear out. These types of properties ‘pad’ the appearance of available inventory.
Overall active inventory has dropped slightly since last week, while AWC/Pending inventory has slightly risen, but neither significantly. We’re also seeing a slight drop in # of units sold and sales price data in the trailing 30 day period versus last week’s trailing period.
Total Active Inventory: 11,130 units (11,292)
Single Family Homes: 9,131 units (9,250)
Patio Homes: 261 units (276)
Condos/Town Homes/Other: 1,739 units (1,764)
Total AWC/Pending Inventory: 20,058 units (19,853)
Single Family Homes: 17,593 units (17,379)
Patio Homes: 243 units (240)
Condos/Town Homes/Other: 2,223 units (2,237)
Trailing 30-Day Sales Data
Total Sales: 7,995 units (8,209)
Single Family Homes: 6,692 units (6,916)
Patio Homes: 143 units (143)
Condos/Town Homes/Other: 1,160 units (1,150)
Average Sales Price (sold properties): $184,836 ($186,620)
Median Sales Price (sold properties): $135,000 ($135,000 – unchanged)
If you have any questions about these stats or about the Greater Phoenix real estate market in general, feel free to post them below.