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Jonathan Dalton
REALTOR
ePro, SFR
602-502-9693

Phoenix Real Estate Inventory: Absorption Rate thru July 23, 2007

Phoenix Real Estate Inventory: Absorption Rate thru July 23, 2007

avatar.jpgThis week’s Phoenix Real Estate Market Inventory update …

The absorption rates for 17 of the 28 cities and towns I track dropped, yet overall the absorption rate for single-family homes in Maricopa County rose to just shy of 11 months. Why?

One of the challenges with tracking absorption rates for individual municipalities is relatively small sample sizes in several areas. It’s not uncommon to see the supply of homes jump from 14 months to nearly three years simply because one sale fell off when there are only 100 or so homes in the given market.

Similarly, the averages are influenced greatly by inventory variances in the city of Phoenix itself. For instance, this past week there was a net increase of just over 200 homes while sales remained essentially flat. Phoenix was the cause of the bulk of the increase, with a net rise of 110 homes there alone.

On a percentage basis, it’s not a significant jump … an increase in inventory of just over one percent in the city proper. But it’s a significant enough portion of the overall figures that an increase in Phoenix’s absorption rate easily can outpace changes in most of Maricopa County’s remaining cities and towns.

CITY SOLD 6/23/07-7/23/07

ACTIVE 7/23

Absorption Rate

as of 7/23/07

Change Buyer/Seller
Ahwatukee 15 92 6.13 -0.80 Buyer
Anthem 42 721 17.17 -1.89 Buyer
Avondale 76 1,073 14.12 0.33 Buyer
Buckeye 52 1,058 20.35 -1.10 Buyer
Carefree 4 98 24.50 -1.75 Buyer
Cave Creek 59 564 9.56 -1.61 Buyer
Chandler 290 2,337 8.06 0.05 Buyer
Desert Hills 8 177 22.13 -13.28 Buyer
El Mirage 36 494 13.72 1.94 Buyer
Fountain Hills 32 410 12.81 -4.60 Buyer
Gilbert 281 2,630 9.36 0.02 Buyer
Glendale 208 2,405 11.56 -0.34 Buyer
Goodyear 79 1,228 15.54 -1.14 Buyer
Laveen 40 517 12.93 -0.54 Buyer
Litchfield Park 29 509 17.55 -1.45 Buyer
Maricopa 75 997 13.29 -0.58 Buyer
Mesa 356 3,412 9.58 -0.20 Buyer
Paradise Valley 20 284 14.20 -2.13 Buyer
Peoria 156 2,016 12.92 0.34 Buyer
Phoenix 878 9,632 10.97 0.38 Buyer
Queen Creek 132 2,065 15.64 -0.06 Buyer
Scottsdale 303 3,385 11.17 0.13 Buyer
Sun City 66 471 7.14 0.77 Buyer
Sun City West 51 4.7 7.98 -0.95 Buyer
Surprise 184 2,122 11.53 1.34 Buyer
Tempe 108 488 4.52 -0.28 Seller
Tolleson 22 468 21.27 1.62 Buyer
Waddell 7 112 16.00 0.43 Buyer
TOTAL 3,546 38,848 10.96 0.06 Buyer

Data provided by ARMLS. Data deemed reliable but not guaranteed

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