Phoenix Metro Real Estate Update
This weekly report will indicate an improvement (indicated in Green) when our "Active Listings" Decrease & our "Pending" and "Sold" Listings Increase.WE'VE GOT GREEN ACROSS THE BOARD! While the Phoenix Real Estate market is currently experiencing a high inventory of homes for sale resulting in a buyer's market, our market is definitely now on a positive trend. With more buyer activity over the last couple months, our market's inventory has continued to fall. The entire Arizona Regional MLS is now carrying less than a year's worth of inventory. We will be in a balanced market when we reach approximately 6 months worth of inventory.We currently have 10.7 months worth of inventory in Active Listings in MLS.(Down from 11.3 months last week.)Arizona Regional MLS Inventory Data (All dwelling types)54,315 | Active Listings | Down 1113 from last week |
8,901 | Pending | Up 397 from last week |
5,060 | Sold in Past 30 Days | Up 133 from last week |
Sold dates range is 4/13/2008-5/13/2008Total Listings as of 5/13/2008Information reliable but not guaranteed.The Southeast Valley currently has 9.4 months worth of inventory Active Listings in MLS.(Down from 9.7 months last week.)Southeast Valley* MLS Inventory Data(All dwelling types)18,885 | Active Listings | Down 101 from last week |
3,560 | Pending | Up 171 from last week |
2.004 | Sold in Past 30 Days | Up 39 from last week |
*Southeast Valley cities include Ahwatukee, Apache Junction, Chandler, Gilbert, Guadalupe, Mesa, Queen Creek, Scottsdale, Sun Lakes and Tempe Sold dates range is 4/13/2008-5/13/2008 Total Listings as of 5/13/2008Information reliable but not guaranteed.