Phoenix Real Estate Market Analysis

Phoenix Real Estate Market Analysis

As of January, 2010

2010 is starting out with a feeling of optimism and more houses for sale. A jump of 4% since the last report to 27,261 SFD detached homes for sale and a slower closing volume of 6438 homes in the last 30 days gives us a current market supply of 4 1/4 months.  

MLS Market Statistics

Overall Market
-  Inventories are up 4% from the last report
-  Total of 27261 active listings with 6438 closings in the last month
-  About a 4 1/4 month supply

Phoenix
-  Inventories are up 6% from the last report
-  Total of 5581 active listings with 1509 closings in the last month
-  About a 3 3/4 month supply.

West Valley
-  Inventories are up 5% from the last report
-  Total of 6456 active listings with 1863 closings in the last month
-  About a 3 1/2 month supply

NE Valley
-  Inventories are up 4% from the last report
-  Total of 4221 active listings with 483 closings in the last month
-  About a 8 3/4 month supply.

SE Valley
-  Inventories are up 4% from the last report
-  Total of 6150 active listings with 1626 closings in the last month
-  About a 3 3/4 month supply

Scottsdale over $1m
-  Inventories are up 3% from the last report
-  Total of 980 active listings with 43 closings in the last month
-  About a 22 3/4 month supply

Scottsdale under $1m
-  Inventories are up 7% from the last report
-  Total of 1940 active listings with 299 closes in the last month
-  About a 6 1/2 month supply.

Paradise Valley
-  Inventories are up 3% from the last report
-  Total of 445 active listings with 34 closes in the last month
-  About a 13 month supply.

The comparison of current active listing change is based on the previous reports' inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.

Phoenix is searched as a single entity. 
West Valley is Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye, and Tolleson.          
NE Valley is Scottsdale, Paradise Valley, Fountain Hills, Cave Creek, and Carefree.
SE Valley is Tempe, Mesa, Gilbert, Apache Junction, Queen Creek, and Chandler.

Source: Karl Stauffer