Here are the basics from the Phoenix real estate market as far as inventory and sales pace go:
Inventory of single-family detached homes in Maricopa County has slipped below thw 20,000 mark to 19,971. Closed sales over the past 30 days were at 6,937 which means we have 2.88 months of inventory currently available.
Non-bank owned, non-short sale homes: 11,540 currently active, 2,057 closed sales the past 30 days, 5.61 months of inventory. This is moving more and more strongly toward sellers’ market territory, though the market in each individual city and even subdivision may vary widely.
Bank owned homes: 3,169 currently active, 3,749 closed sales the past 30 days, 0.88 months of inventory.
Short sales: 5,262 currently active, 1,131 closed sales the past 30 days, 4.65 months of inventory.
To be honest, I still don’t fully trust the short sale numbers and the discrepancies I see on a handful of listings – sales prices that make no sense, for instance, make me wonder if all of the sales took place. If not, I don’t believe it to be a difference of more than a dozen so all the numbers aren’t in question but I’m trying to figure out the best way to clean this data a bit more.
As always, all of the details from the various cities and towns in the Phoenix real estate market are below. And also as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.
[tags]Phoenix real estate[/tags]