In keeping with my commitment to you to keep you updated on current market conditions…According to the Cromford Associates, LLC, as of July 3, 2012 from Arizona Regional Multiple Listing Service (Maricopa County):
There were 19,952 Active Residential Listings- Same time last year we had 28,920
This number includes “active with contingency” offers (7,064)- so if you exclude these “AWC’s”, the inventory available is even lower at just 12,888 Active Listings
Using the total and at a rate of 8,494 sales per month (as of 7/3/12), the month’s supply is at 2.3; however excluding the AWC, the supply is just 1 ½ months!
Of 19,952 total Active Residential listings:
1,204 were Lender Owned- (6%) - same time last year: 4,228 (15%)
7,224 were Pre-Foreclosure/Short Sales (36%)- same time last year: 11,150 (38%)
10,069 were Normal Listings (50%) – same time last year 12,006 (41%)
There were 10,614 transactions pending- same time last year 11,637
So as you can see, inventory of homes for sale remains EXTREMELY LOW!! Homes are typically selling quickly and sometimes going for more than list price- If you are thinking of selling NOW is a great time! Call me TODAY for a market analysis of what your home might sell for in today’s hot market conditions!
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