Zip Code 85040: Market Snapshot in Phoenix Arizona
Single Family Homes
June 2010
Wondering about homes in this Zip Code? We have prepared a snapshot for you. How is the best way to find your next home? Call an expert to locate just the right one for you and your family.
ZIP code 85040 comprises a 10 square mile area of South Phoenix. It lies between Southern Avenue in the south and University Drive and the Salt River in the north. The western boundary runs along Central Avenue and the eastern boundary runs along 48th Street.
Active Listings
The month of June reported 135 residential property listings, UP 3% compared to 129 in May, and FLAT from 135 just a year ago. The Federal First Time Home Buyer $8,000 tax credit has affected the market in many ways. We are all waiting to see what will happen in the next 3-6 months.
Pending Listings
June ended with 36 pending listings, DOWN 56% from 56 in the month of May, and DOWN from 70 in June a year ago.
Sales Per Month
Sales in June were 44, DOWN 25% from 35 in May. The prior year June sales were 55.
Annual Sales $/SF
June reported Sales/SF at $48, UP from $46/SF in May, and DOWN from $52/SF in June the prior year.
Summary
Real estate activity in the Phoenix Metro area market continues to deteriorate, where demand in the market is roughly the same as the supply. Some good news is that the federal tax credit deadline to close escrow on qualified home sales was extended to September 30th. Stay tuned to our blog, where we will keep you updated.
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Bryan Watkins is a savvy Realtor® in the Metro Phoenix area. Want to Search the official MLS for FREE the same as an Agent? Then jump to www.LRARealEstate.com for a fast start. You can also text Bryan at 480-734-7878 or email bryan@LRAphx.com for more information on homes or other fine properties. Some info was courtesy of MLS, Wikipedia and the Cromford Report.
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