When last we checked in at the end of January, inventory was sitting at just over 23,000 homes and there were around 4,000 sales over the preceding 30 days. Fast forward to today and there’s still just over 23,000 single family detached homes in the Phoenix real estate market and there were just over 5,100 sales the past 30 days.
The more precise numbers – 23,429 active homes for sale in Maricopa County as of this morning, 5,182 sales over the past 30 days – which means we have 4.52 months of inventory at this moment in time, still in the range of a sellers’ market but closer to balanced than we’d seen.
Here’s where the numbers get fun, though …
Of those 5,182 sales, 2,019 were of bank owned homes and 1,970 were of the non-bank owned, non-short sale variety. In other words, traditional sales are taking place just about as often as bank owned sales, which should come as quite a surprise who believe the only homes selling here are bank owned.
Most of the activity remains at the lower price points, though aggressively priced homes in most price ranges will sell. It’s all about the perception of value. Push the market, choose a higher price in hopes of negotiating down, and you’ll get nowhere right now.
As always, the details for the various cities and towns in the Phoenix real estate market are listed as 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]