Has the Phoenix Valley hit a plateau?
This week: Our inventory is holding pretty steady as I believe we are in the midst of a plateau. Stay tuned!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 and appears to be correcting ever so slowly. With more buyer activity over the last three 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.An improvement in our market will be indicated in Green. A negative trend in our market and will be reflected in Red.We currently have 9.1 months worth of inventory in Active Listings in MLS.(Down from 9.2 last week.)Arizona Regional MLS Inventory Data (All dwelling types)52,232 | Active Listings | Down 22 from last week |
8,783 | Pending | Up 111 from last week |
5,722 | Sold in Past 30 Days | Up 42 from last week |
Sold dates range is 6/16/2008-7/16/2008Total Listings as of 7/16/2008Information reliable but not guaranteed.The Southeast Valley currently has 7.9 months worth of inventory Active Listings in MLS.(Same as last week)Southeast Valley* MLS Inventory Data(All dwelling types)17,713 | Active Listings | Up 5 from from last week |
3,247 | Pending | Down 9 from last week |
2,248 | Sold in Past 30 Days | Down 64 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 6/16/2008-7/16/2008 Total Listings as of 7/16/2008Information reliable but not guaranteed.