2011 Statistics for the Phoenix Area

By
Real Estate Agent with Value Added Service, 602-620-2699 SA5376460000

2011 Statistics for the Phoenix Area -

I hope that your Holidays were Merry & Bright!
 
2011 ended with a bang in the real estate market.  New construction has increased slightly, our supply is down, our sales are steady, and demand is starting to build!
 
The question of the day is still, "How's the real estate market."   This data compiled by our MLS board will answer your questions.   
 
 There are fewer new listings, down almost 20% since last year.    

There is a 3 month supply of homes to sell, which is a very low level.  Consider that if nothing new came on the market, all of the existing properties listed for sale as residential would sell in 3 months

Sales prices ticked upward to make December, 2011 the 3rd highest sales volume since 2001.

List prices dropped from $200.2 per sq ft 12/10 to $129.9 per sq ft for 12/11.  Foreclosures

Foreclosures have declined by 60% since November, 2009. Lenders may be more willing to work out a short sale vs. a foreclosure to save more money.

Distressed sales still account for almost 60% of our sales.

And the largest volume of sales by price is between $50,000 - $150,000.  Competition is fierce and multiple offers are common in this price range. 

Arizona is now considered one of the top 10 growth states, but we need job growth. 

The Phoenix Business Journal includes more sales data with this article. 

So, I can easily say that this is a great time to buy. But be prepared to act quickly!

 
New legislation that just began at the start of this year concerns pool pumps.  Did you know that the 2nd largest user of energy in your home is a pool pump?!  Your air conditioner uses the most energy, followed by your pool pump.  Read this article for some eye popping information.  Also make sure to read the entire article for information about rebates from the utility companies.  And as always, make sure to check the national site, then click on Arizona for any and all rebates, http://www.dsireusa.org!
 
 
Here's to looking forward to a positive 2012!
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HomeSmart Elite Group                                  

8388 E Hartford Dr., Suite 100

Scottsdale, AZ 85255                                                         

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Ambassador
1,867,977
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hey Green pal. Good to see you. Love your stats with a shade of green at the conclusion. Well done. D

Jan 09, 2012 09:32 AM #1
Rainmaker
364,905
Sharon Lord
Maracay Homes - Peoria, AZ
New Home Advisor

Jan - WOW that sounds like good news all-around for our real estate market - hopefully the trends continue!

Jan 09, 2012 09:33 AM #2
Rainmaker
981,021
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thanks Debb!  I appreciate your comments and feedback.  I just added a link to a Phoenix Biz Journal add that came out today as well.  I hate to make changes after it goes live.  Thanks again and have a great week!

Sharon - yes, keep your fingers crossed for everyone in this market!  Have a great week as well!

Jan 09, 2012 09:40 AM #3
Rainer
125,429
Laurie Clark CRB Angel Realty LLC Your Monument Realtor 719-502-6572
CRB-CCSS-ASD-HBS-RSD-Denver Short Sale Agents - Monument, CO
Angel Realty, LLC

Excellent market report.  It is good to hear that several local markets appear to be on the upward slope of sales. Thanks for sharing!

Jan 09, 2012 03:22 PM #4
Rainer
206,584
Marge Piwowarski
Phoenix AZ Horse Property - Phoenix, AZ
Phoenix AZ Horse Property, LLC

The Phoenix Metro area is finally headed in the right direction!  Phoenix proper has a bit over TWO months inventory!  Finally.  Gonna be a much better year!

Jan 09, 2012 04:46 PM #5
Rainmaker
981,021
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Laurie - thanks for your comments. And yes, good news is nice to read.  Thanks again!

Marge - YES!!!  We're on a roll now! Thanks for commenting!

Jan 10, 2012 03:23 AM #6
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Rainmaker
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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