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Phoenix Residential Property Stats for June 2007

By Ken Spencer

Industry Observer

July 18, 2007 03:11 PM

It looks like Phoenix is marching to the same drummer as the rest of the nation in terms of residential real estate. Here's what it looks like when a review of the ARMLS (MLS) statistics are reviewed for June 2007.

Avg. Days of market are running 115 days (up from 69 last year)

Avg. List to sales price ratio is 96.05% ( 97.12 % last year)

Average sales price (last 36 months) is $349,400 ( $348,100 last year)

New listings by the month is 14212 (16158 last June)

Number of RE Sales Transactions 5438 (7214 last June)

Currently 54,437 listings as of July 15, 2007.

The positive is that there is still a lot of activity. As real estate professionals, we need to sharpen those skills in order to be part of the properties that move.

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Ann Heitland

Retired from RE/MAX Peak Properties - Flagstaff, AZ

Retired from Flagstaff Real Estate Sales

So, it appears you have about 10 months supply on the market? Is that up or down from May? We went down from 9 to 7 from May to June. I found that encouraging. Your market affects us, so I find this kind of post very useful -- THANKS!

Jul 18, 2007 03:48 PM

Ken Spencer

Buckeye, AZ

for Verrado, Buckeye, Sundance

The number of properties decreased by 500. This is a bit encouraging Ann. Let me send you a copy of the report which was prepared by our Market Center Team Leader. You may be able to draw other conclusions that you may find interesting.

Ken

Jul 18, 2007 04:04 PM

Tony and Suzanne Marriott, Associate Brokers

Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ

Coldwell Banker Realty

It seems to be stagnant - but stable. I think one reason the DOM continues to increase is that the way overpriced listings are now in the several hundreds of days on the market - while the ones priced realistically continue to sell in 30-45 days.

Jul 19, 2007 12:47 PM

I'm with you on the realistic pricing thing Tony. You've had great success with that.

Jul 19, 2007 05:12 PM

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