Phoenix Real Estate Inventory through July 30, 2007

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

Absorption rates for Maricopa County, which consists mostly of the Phoenix real estate market, climbed above the one-year mark as sales fell to February levels. Net inventory rose to just shy of 39,000 homes on the market, an increase of more than 10,000 single-family homes over the past five months.

Even Tempe, the one sellers’ market in the Valley, jumped into “neutral” territory as sales ironically have slowed in advance of Arizona State University going back into session.

One relocation company with which I’m working has suggested open houses and Realtor tours as the best way of selling a home in a hurry here in the Phoenix area. In truth, marketing can help in getting one home viewed rather than another if all other things are equal. But price is going to be the primary factor in determining whether a house sells.

CITY SOLD 6/30/07-7/30/07

ACTIVE 7/30

Absorption Rate

as of 7/30/07

Change Buyer/Seller
Ahwatukee 11 96 8.73 2.59 Buyer
Anthem 31 725 23.39 6.22 Buyer
Avondale 65 1,091 16.78 2.67 Buyer
Buckeye 46 1,053 22.89 2.55 Buyer
Carefree 2 97 48.50 24.00 Buyer
Cave Creek 54 562 10.41 0.85 Buyer
Chandler 248 2,376 9.58 1.52 Buyer
Desert Hills 11 182 16.55 -5.58 Buyer
El Mirage 29 490 16.90 3.17 Buyer
Fountain Hills 25 407 16.28 3.47 Buyer
Gilbert 224 2,628 11.73 2.37 Buyer
Glendale 197 2,425 12.31 0.75 Buyer
Goodyear 80 1,219 15.24 -0.31 Buyer
Laveen 32 526 16.44 3.51 Buyer
Litchfield Park 29 509 17.55 0.00 Buyer
Maricopa 69 996 14.43 1.14 Buyer
Mesa 312 3,407 10.92 1.34 Buyer
Paradise Valley 15 285 19.00 4.80 Buyer
Peoria 126 2,023 16.06 3.13 Buyer
Phoenix 769 9,707 12.62 1.65 Buyer
Queen Creek 115 2,061 17.92 2.28 Buyer
Scottsdale 267 3,379 12.66 1.48 Buyer
Sun City 50 482 9.64 2.50 Buyer
Sun City West 40 402 10.05 2.07 Buyer
Surprise 155 2,131 13.75 2.22 Buyer
Tempe 86 502 5.84 1.32 Neutral
Tolleson 17 470 27.65 6.37 Buyer
Waddell 6 122 20.33 4.33 Buyer
TOTAL 3,035 38,906 12.85 1.89 Buyer

Data provided by ARMLS. Data deemed reliable but not guaranteed

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Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

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