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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