Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments
Big Question then.... ARE we seeing the (proverbial) "Bottom"??
If so, Do we go UP from here??
Careful - Over the last few years, many have tried look into this crystal ball, but didn't expect what was going to happen, right? So the best answer to the 1st question is..."Possibly", the 2nd question is doubtful. On a more certain note - after you see the attached statistics and information, I think you'll see a GREAT picture of where we are!!
There may be unobserved information (higher pending foreclosures, seasonal adjustments, and other affecting conditions) that may affect information presented. The perspective views below are not a representation of fact, but only considered as opinion. Reports are from current, residential MLS information - good through May 31st, 2009... Also showing continued market trends from 2 years previous. Information recipients are advised to conduct their own proper investigations to decipher and evaluate data.
** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.
Following the attached reports, in respective order:
- Median Price of properties ‘Listed', ‘Sold', & ‘New Listings' - This one's first, because the best positive changes from last month.... Our Average Median Price (finally) INCREASED, and it appears the median listing prices are holding higher. It's the Great news we were hoping to see! Click Here to see Chart
- Supply & Demand Listings - Believe it or not, but we surpassed last month as the largest decrease in active listings in over 2 years! Look at the drop in available properties for sale! Click Here to see Chart
- Supply & Demand #of units ‘Under Contract', Sold', & ‘New Listings' - Appears that the gap between the increased number of homes "Under Contract" and the "New Listings" is decreasing. This reduction in inventory may affect the availability in properties "Under Contract". Click Here to see Chart
- Months Supply of Inventory - We're still heading in the right direction with a decreasing supply of inventory. Click Here to see Chart
- Percent of homes ‘Under Contract' - Another unexpected & sizeable increase with the "Percent of homes" under contract"! Look at this pace! Click Here to see Chart
- Basic Absorption of homes ‘Under Contract' (both old & new) & ‘Residual Inventory' - Mostly positive changes with the "Basic Absorption" of homes into our market. ‘Residual Inventory' is decreasing and ‘Under Contract' homes maintaining. Interesting that the number of new listings to the market decreased over the last 2 months. Let's see if that continues over coming months. Click Here to see Chart
- NEW! - Homes for sale VS. for sale the last day of the month - This will helps see changing trends. It compares the month as a whole, to what happened only at the end of the month. Important to look at the difference between - the number of listings for the month VS. at the end of the month. Definitely widening (showing our inventory continues a downward trend).... And at a continually faster pace. Could we actually trend towards an inventory deficit, after all these years of a surplus?? Click Here to see Chart
- Attached is the 1st Quarter 2009 Zip Code Report for Maricopa County. This report is a great snapshot of each ZIP CODE in Maricopa County comparing the 1st Quarter of 2008 to the 1st Quarter of 2009. Click here to see this chart
Thinking about Buying?? NOW may be the time!!
- NOTE - If you're looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or ‘wider' perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175
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