Phoenix market update - Active listings 8/1

By
Real Estate Agent with MavRealty

It's the start of a new month.  I'll have sales statistics in the next few days, but here is how we are starting out the month in terms of inventory.  One can hear in many different places how low inventory levels have dropped and how it has affected the market.  Keep in mind that the Phoenix metro area has a population of over 4 million.

As of approximately 2:30 PM on August 1, the total number of active listings of all dwelling types in the Arizona Regional MLS (ARMLS) was 13,446.  Take out those listings that aren't actually in the metro area (ARMLS allows out of area listings throughout the state) and that number drops to 11,913.  Of that amount, 9,375 are single family detached homes.  2071 are listed at prices below $150K.  Another 3393 are listed between $150K and $300K. 875 are priced at $1M+.

Scottsdale has a total of 1783 active listings.  1265 of those are single family detached.

The zip codes of 85050 and 85054 which includes the Desert Ridge area of NE Phoenix has only 92 listings, 63 of which are single family detached.  If you would like available stats for you area, please let me know.

What does this mean?  If you are a home owner who was waiting for recovery, then now is an excellent time to sell.  Feel free to contact me for more information.

Sincerely,

Adam Tarr PC
Citywide Real Estate
480-236-7374

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