Right now, there are 7,830 single family detached homes for sale here in the Phoenix market. That’s about the same as what we’ve seen over the past month or so, give or take a couple of hundred homes.
By the numbers …
- Bank owned homes remain steady at 685
- 643 are short sales
- The other 6,000 and change? Traditional sales
- 84 homes for sale under $50,000
- 256 under $75,000
- 514 under $100,000
Looking at Pending/AWC listings …
- 14,730 either Pending or Active With Contingencies
- 4,356 under $100,000
- 1,074 under $50,000
- Median days on market for the pending listings? 13 days
So what are the conclusions from these numbers?
Homes priced under $50,000 are sold almost as soon as they hit the market, barring major damage. For homes under $100,000, the market’s only slightly less brisk.
There is a remarkable opportunity for equity sellers right now – a chance to sell the home they are in and move to the home they want. All it takes is a phone call to 602-502-9693 to get that ball rolling.