After a several month hiatus, it’s the return of the market stats.
When we stopped the weekly statistics posts back in September, there were 19,801 single-family detached homes for sale in Maricopa County. As of today, there are 23,172 single-family homes for sale in the Phoenix real estate market.
Back in September there were 2,800 bank owned homes for sale. As of today, there are 3,588 bank owned homes for sale.
The big difference? Over a 30-day span ending September 17, there were more than 6,000 closed sales in the Phoenix area. Over a 30-day span ending today, there were 4,633 closed sales. As a result, we now have 5 months of inventory where on the last report there were just more than 3 months available.
Which would sound worse if not for the fact that a year ago at this time, we were on a 3,427 sales pace against inventory well over 36,000 and a 10-month supply of homes. Two years ago was 1,800 sales and just shy of 40,000 homes.
In other words, sales remain robust for this time of year; January traditionally is the slowest month of the market as homes being closed on now were purchased just ahead of the winter holidays. Yet we still have a decent sales pace.
As always, aside from the four-month hiatus, 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 and somewhat dry but not guaranteed.
[tags]Phoenix real estate[/tags]