Phoenix Real Estate Inventory Update – April 14

avatarthumbnail.jpgWe hit the highlights yesterday with the discovery that inventory’s at a two-year low and that hasn’t changed today.

As of this morning there are 29,674 single family detached homes for sale in Maricopa County – a drop of some 1,300 homes since last week. Of these, 6,413 are bank owned and 23,261 are not.

Over the past 30 days, there have been 5,705 closed sales in the Phoenix real estate market – roughly the same as in last week’s report. These include 3,887 bank owned homes and 1,835 non-bank owned that sold.

With the decrease in inventory the absorption rates also have dropped. Overall, the Phoenix real estate market has 5.20 months inventory of single family detached homes, a decrease of .2 months or about 6 days. Bank owned inventory is down to 1.66 months and non-bank owned inventory also fell to 12.6 months.

As always, details for the different cities and towns in Maricopa County are included on the table below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.

[table=45] [tags]Phoenix real estate, absorption rate[/tags]

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.

2 Comments

  • Kyle Pearson 8 years ago

    I’ve heard that most of the activity in Phoenix real estate is at price levels below 200k, with a substantial amount occuring at about the 100k price level. This would mean that although inventory looks like its dropping, the reality is that the only things moving are really low-priced homes. Any comments?

  • Jonathan Dalton 8 years ago

    Most of the activity is at the lower points, under $200K. But that still doesn’t mean that inventory isn’t dropping – when there are 1,300 fewer homes on the market this week than last, that’s a real drop.

    And there eventually will be a trickle-up effect, for lack of a better term as the long-departed move-up buyers re-enter the market.

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