Phoenix Real Estate Inventory Update – September 16

avatarthumbnail.jpgThings keep chugging along here in the Phoenix real estate market.

Inventory of single family detached homes in Maricopa County rose slightly to 36,639 while sales over the past 30 day. Sales over the preceding 30 days were down by 20 leading to a slightly increased absorption rate of 8.52 months.

Bank owned inventory rose by over 100 homes while sales increased by about 30; the absorption rate for REO properties now sits at 3.39 months of inventory. Just over one in three sales in the Phoenix real estate market are bank owned homes. And, just in case you are curious, these are actual sales only and not failed trustee’s sales where the property reverts to the bank.

Below are the numbers for the different cities and towns within Maricopa County. As always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.

[table=16] [tags]Phoenix real estate[/tags]

Jonathan Dalton

Jonathan Dalton is a 40-plus-year resident of the Valley and has been helping folks buy and sell homes since 2004. He can be reached at 602-502-9693 or info at allphoenixrealestate.com.

1 Comment

  • Reno 9 years ago

    There are so many bank owned properties on my street. I live in the Islands in Gilbert and am amazed at the number of homes falling into foreclosure. Thanks for the stats!

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