Phoenix real estate - March 2009 market update.

I said it last month and I'll say it again this month.  Ummm folks...it is REALLY time to buy here in Phoenix.  The Phoenix real estate market is starting out 2009 at a much healthier pace than the previous year. Year over year units sold are screaming past last year's figures, almost tripling March 2008's pace.  Prices still continue to decline but the bargain hunters are coming back in full force. If you're looking to purchase a home here in the Valley of the Sun, now's the time. Here are March's numbers through the week ending 3/31/09:

Active Listings: 10,744 (down 9% from February '09)

Homes Pending: 3,648 (up 23% from February '09)

Homes sold in last 30 days: 2,174 (up 35% from February '09, up 179% from March '08)

Burn rate (Inventory on market/by homes sold last 30 days) = 3 months supply

Avg. Sale price (Solds): $104,649 (Down 9% from February '09, Down 62% from March '08)

Avg. price per sq. ft. (Solds): $60.38 (Down $5 per Sq. Ft. from Feb. '09, Down 59% from March '08)

Avg. Days on Market (Solds): 127 (Up 8 days from Feb. '09, Up 2 days, 2% from March. '08)

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