Phoenix Real Estate Market Update – #23

Ok, the update is late today, because of all things, the CARDINALS ARE GOING TO THE SUPER BOWL!  Wow!  I had a mountain bike ride scheduled for near Tucson this morning, so we watched it from DVR about 1 hour tape delayed.  If not for that, I don’t know how I could have handled the third quarter.  It was just an amazing game and performance by the Cardinals.  Congratulations!  Pittsburgh is the absolute best team the Cardinals could be playing, and the build up the next two weeks in Phoenix is going to be absolutely riveting.    I think I’m going to have to go buy some kind of Cardinals shirt or something…

After the game, I gathered signatures on an offer a client is making on a home in Tempe, faxed that on to the listing agent, and thus this week’s update is quite late in the day.  Across all of Maricopa County, there are currently 37,239 single family homes for sale, up by 100 from last week. There are 5037 sales currently pending, up by 291 from last week. And 3978 homes closed escrow in the last 30 days, down by 162 from last week. As a result, broader Maricopa County now has 9.4 months of inventory, based on this week’s numbers.

Inventory is still going up, while pending sales are doing their best to keep pace. The following is a breakdown of the 11 cities around Phoenix I’m following:

*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 .

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