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Phoenix Real Estate Inventory Update – March 24

Phoenix Real Estate Inventory Update – March 24

avatarthumbnail.jpgThe pace of the Phoenix real estate market continues to pick up.

Inventory of single-family detached homes is down for the sixth straight week and sales over the past 30 days have crossed the 5,100 mark.

As of this morning there are 33,496 detached homes for sale in Maricopa County against sales of 5,114 for an absorption rate of 6.55 months.

Anthem, Avondale, El Mirage, Maricopa, Queen Creek and Surprise all are sellers’ markets based on absorption rates less than five months. Buckeye, Glendale, Goodyear, Laveen, Phoenix proper and Tolleson are balanced markets with absorption rates between five and six months.

Bank owned homes continue to fly. Inventory fell again to 8,376. With 3,516 closed sales the past 30 days, the result is an absorption rate of 2.38 months.

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

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[tags]Phoenix real estate[/tags]

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