What is trending right now in urban?

Well the mid-winter urban market in Phoenix is hotter than ever. We are seeing large demand in the 150-400K range in downtown Phoenix, midtown Phoenix and the Biltmore area. Increasingly people are recognizing that these corridors offer allot of unique properties at very compelling prices especially when compared to Scottsdale and downtown Tempe. Since November we've seen demand increase by 40% with inventory decrease by as much as 50%. This is exciting because now in certain areas and projects we see demand equal to supply which we haven't seen for sometime. These are the 'tea leaves' of recovery in the urban market and since this market has a much smaller supply of homes than the suburban areas of Phoenix, urban will recover quicker and in better shape. As mentioned in an earlier article, days on market came back to the average of 110 days a couple months ago. We now are below that averaging 75 days. Of course we are coming into our 'season' here in Phoenix and that usually adds a bit more demand than usual however we much farther ahead than last year. This is all positive signs so keep your chin up!! Check out all the propeties at www.phoenixurbanliving.com. M.