Real Estate Market Update for Maricopa County, Arizona, October 2012
Total active listings,(with no AWC) have picked up by 1662 units over the last month.
- As of October 15th, we sit at 16,845 Actives All Property Types.
- Sales are at 6710 for the last 30 days (as of October 15th), down by 642 units from one month ago!
- We are currently sitting at a 2.5 months of supply, (based on Active listings with no AWC).
- Pending sales are down slightly from the month before as of October 15th, 10,187 vs one month ago at 10,626 .
- Traditionally, 3-4 months of supply indicate a balanced market
September 2012 re-sales and new sales in Maricopa County were 7030 in August 2012 they were 8257.
- That is a 15% drop from month to month.
- Compared to September 2011 7659. That is a (9.0%) decrease!
- The median price in Maricopa County for August 2012 was $155,000 in September 2012 it was $156,800. This marks a 1% increase.
- September 2011 it was $125,000 for a 25% increase!!!!
- In September 2007 it was $248,480 and in September 2001 it was $142,752!
Distressed Market Pie Chart:
This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 25% of the Closings for the last month, and 28% of the active listings for a 3.7 Months of Supply. If you take the AWC's out we drop down to .8 months of supply! Distressed Sales (Short Sales and REOs combined) accounted for 38% of the total sales for in the last month. REO property sales equal to 13% of the sales for the last month. The listing success rate for Short sales is 59%
Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 6% absorption rate for the last month. Only 57 properties in all of the MLS were sold for more than $1.0 million.
MONTHS OF SUPPLY (with AWC listings) (Single Family Only)
East Valley:2.3
Northwest:3.5
Paradise Valley: 9.4
Luxury ($1mil+): 16.3
Southwest:3.0
Peoria/Glendale: 2.3
Camelback Corridor: 3.5
Cave Creek: 4.5
Ahwatukee: 2.7
Scottsdale: 4.4
Apache Junction: 3.9
Fountain Hills: 6.2
Buckeye: 3.3
Desert Ridge & Tatum Corridor: 2.9
Valleywide Comparision
Valleywide Distressed Properties Comparision
East Valley Comparision
Paradise Valley Comparision
Luxury Comparision
Ahwatukee Comparision
Scottsdale Comparision
source:
Equity Title Agency
301 W. Warner Rd. #110
Tempe, AZ 85284
Office: 480-756-8888
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