Phoenix Real Estate Market Update – #26

First, I hope everyone in Arizona remembered NOT to change their clocks this morning.  Arizona has plenty of time, and thus feels no need to save any of it for later.  We’ve also got more than enough afternoon/evening sun as well, with no need to make that part of the day longer.  If you aren’t in Arizona, and were late for an appointment, church, or other function today because your state is trying to save time, here’s reason #512 to move to Arizona.

The market update is once again two weeks apart from the last update.  Honestly, the numbers jump out at you so much better two weeks apart, that I’m considering keeping this schedule.

Across all of Maricopa County, there are currently 34,376 single family homes for sale, down by 2999 from 2 weeks ago. There are 7716 sales currently pending, up by 381 from 2 weeks ago. And 4551 homes closed escrow in the last 30 days, up by 276 from 2 weeks ago. As a result, broader Maricopa County now has 7.6 months of inventory, based on this week’s numbers.

The new inventory that came to market in early January has now been fully absorbed, which is an amazing thing to consider, given the general softness of the market.  And gross sales volume continues to surge forward as evidenced by a nearly 2 month decline in inventory levels from mid-January.

Finally, this last week I reacquainted with an old high school friend that I hadn’t talked to since 1985.  Lisa and I found each other via Facebook, and I was astonished to find that she now lives in Phoenix (we were both from a very small town in Oregon: Umatilla).  Actually, to be more precise, she now lives in Laveen.  In the past, I haven’t tracked Laveen, but for Lisa’s sake, Laveen is now in the table below.  If I don’t cover your suburb, and you’d like it included, please feel free to drop me a note, give me a call, or leave a comment.  Accordingly, the following is a breakdown of the 12 cities around Phoenix I am tracking:

*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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