By: I hope everyone had a great 4th of July weekend. We enjoyed the extremely cool weather in Pinetop, AZ, where I don’t think the high temp was over 75 degrees. At just over a 3 hour drive from Phoenix, Pinetop may just be the ideal 2nd home location for those living in Phoenix or Tucson.
Across all of Maricopa County, there are currently 36,894 single family homes for sale, down by 509 from last week. There are 5344 sales currently pending, down by 152 from last week. And 4457 homes closed escrow in the last 30 days, down by 268 from last week. As a result, broader Maricopa County is now at 8.3 months of inventory, based on this week’s numbers.
Recent sales have not kept pace with the decline in inventory, which is moving months of supply upward. I expect the trend toward an increasing months of supply number, as the general rule, throughout the rest of 2008. The following are the 10 city-by-city breakdowns I am following:
|
City |
Homes For Sale |
Sales Pending |
Sold |
| Phoenix |
10,357 |
1375 |
1055 |
| Scottsdale |
3943 |
332 |
326 |
| Mesa |
3242 |
495 |
409 |
| Chandler |
1843 |
320 |
341 |
| Glendale |
2079 |
342 |
289 |
| Goodyear |
904 |
151 |
143 |
| Tempe |
525 |
75 |
98 |
| Cave Creek |
533 |
51 |
39 |
| Fountain Hills |
510 |
34 |
24 |
| Paradise Valley |
450 |
18 |
18 |
| Carefree |
117 |
8 |
5 |
*All data comes via ARMLS, and is presumed to be reliable, but is not guaranteed. All numbers represent single family detached homes only. Condos, townhouses, timeshares, vacant land lots, and manufactured homes are not represented in these numbers. All sold properties were sold in the last 30 days.
The following trend indicators are relative to the previous week’s update:
Positive move upward 
Positive move downward
Negative move downward 
Negative move upward
.
1 response so far ↓
Steve,
We’ve also seen a slight drop in sales in June (-9.7%), so I’m very interested in markets that are being grouped with ours in the national media.
We have no where near the volume that you do in Maricopa County, but sales in Daytona Beach were up 36% in the second quarter over the first quarter.
Thanks for publishing current numbers, it help me better understand our market.
Lynn
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