Take another 1,200 homes off the Phoenix real estate market.
As of a few minutes ago, there are 27,296 single family detached homes for sale in Maricopa County. With 5,943 closed sales the past 30 days, we’re looking at 4.59 months of inventory – down about a week from last week’s report.
In the bank owned arena, there are 5,155 active listings in the Phoenix real estate market and there were 4,035 closed sales the past 30 days. The result is 1.28 months of inventory, roughly five weeks’ worth.
The absorption rate for non-bank owned also fell to 11.60 months.
A handful of cities have slipped below three months of inventory led by El Mirage at an almost unthinkable 1.78 months (130 sales the past 30 days, 232 listings.)
As always, the details for the cities and towns in the Phoenix real estate market are listed below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.[table=47] [tags]Phoenix real estate[/tags]