Last month, there were 6,980 closed sales of single-family detached homes in Maricopa County as reported by the Arizona Regional MLS (data deemed reliable but not guaranteed, check your local listings for details.)
This compares to 6,287 last year when there were higher inventory levels and 7,138 back in 2011.
Of those 6,980:
- 505 … yes, only 505 … were bank owned homes (also called REOs or foreclosures)
- 881 were short sales
- 127 were HUD homes
Put those together and only 21.6 percent of the sales were of distressed homes. The rest were traditional sales.
As of the moment, we’re sitting at 9,341 single-family detached homes across all of Maricopa County. Roughly speaking, there’s less than a six-week supply of homes at the current sales pace. That’s not many at all.
If you’re an accidental landlord or otherwise have been holding out for better prices, it might be worth counting your chips and considering departing the table.
Oh, yes, the offer … want numbers that rate more directly to your area? Market reports are being uploaded today and tomorrow to the Market Reports tab. Now, that page of links is password protected … send me an e-mail, sign up for the newsletter or register on our home search page and I’ll send you the password. It’s just that easy.
Until next time …