Maricopa County Housing Inventory

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

 Maricopa County Housing Inventory

Maricopa County continues to rebound in most areas.  Thankfully, we have Michael Orr, Cromford Report, ASU, to give us hard statistics of where we are and what to expect.

Recently, it's reported that we're headed for a "severe shortage of supply this spring."  His numbers show that if we eliminate the Active With Contingency, now Under Contract Accepting Back Up Offers, the numbers look better than they actually are.  He's quick to point out that our seasonal market will effect the outcome and that the supply isn't where the demand is necessarily. 

Listings typically start to increase in January and the Cromford Report notes that we aren't seeing that much inventory listed on the Arizona Regional MLS now and don't expect those numbers to increase much.  Thankfully, our inventory supply numbers will assist in relaying exactly what is going on in which city.  The diversity of Maricopa County is vast from the east to the west, and as we know, real estate is location, location, location.

Below is a list of cities vs. supply Year over Year courtesy of the Cromford Report. 

Cromford Report

Rank Location Days Inventory 1/10/13 Days Inventory 1/10/12 Days Inventory Average 2001-2013 Change Since 1/10/12 Comment
1 Sun Lakes 131 215 183 down 39.1%

far less supply than last year,

expect increased upward pricing pressure

2 Anthem 79 125 276 down 36.8%

very hot, expect strong upward

pricing pressure

3 Tempe 66 97 112 down 32.0%

very hot, expect strong upward

 pricing pressure

4 Peoria 77 108 148 down 28.7%

very hot, expect strong upward

 pricing pressure

5 Sun City 103 141 141 down 27.0% warming up, expect prices to rise
6 Chandler 57 75 123 down 24.0%

very hot, expect strong upward

 pricing pressure, unusually low supply

7 Cave Creek 105 138 214 down 23.9%

much tighter supply than last year,

will probably experience strong upward pricing pressure

8 Sun City West 112 147 184 down 23.8% warming up, expect prices to rise
9 Gilbert 60 75 134 down 20.0%

very hot, expect strong upward

pricing pressure

10 Scottsdale 121 150 219 down 19.3%

much tighter supply than last year,

will probably experience strong upward pricing pressure

11 Glendale 53 65 129 down 18.5%

very hot, expect strong upward pricing

pressure, lowest days inventory in the valley

12 Goodyear 100 121 201 down 17.4%

warming up, less supply than last year

but more supply than many other places

13 Fountain Hills 155 184 259 down 15.8%

less supply than last year, but more

than most other areas

14 Paradise Valley 251 276 434 down 9.1%

warming up, expect prices to rise, 251

is low for PV, although higher than anywhere else

15 Mesa 65 70 135 down 7.1% tighter supply than last year,upward pricing pressure
16 Apache Junction 81 86 187 down 5.8% tighter supply than last year
17 Phoenix 66 70 141 down 5.7%

tighter supply than last year, and supply

was very short then, upward price pressure

18 Laveen 55 57 256 down 3.5%

even tighter than last year, third lowest days

 inventory in the valley

19 Gold Canyon 212 208 286 up 1.9% little change from last year, adequate supply
20 Avondale 61 59 149 up 3.4% slightly more supply than last year
21 Surprise 105 98 166 up 7.1% more supply than last year
22 Tolleson 54 49 262 up 10.2%

cooler than last year but still very low supply,

second lowest days inventory in the valley

23 Buckeye 90 81 205 up 11.1%

supply situation has eased, so less upward

pricing pressure

24 El Mirage 61 53 139 up 15.1% cooler than last year but still very low supply
25 Casa Grande 109 85 171 up 28.2% much more supply this year
26 Queen Creek 94 63 210 up 49.2% much more supply than last year, less pressure on pricing
27 Litchfield Park 115 75 208 up 53.3% plenty of supply compared with last year
28 Maricopa 109 62 359 up 75.8%

plenty of supply, no reason for prices to rise

further, but they might rise on sentiment alone

29 Arizona City 164 83 201 up 97.6% plenty of supply, little further upward pricing pressure

Thanks again to the Cromford Report.  If you're in Phoenix, subscribe!

 

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Rainmaker
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David Saks
(retired) - Memphis, TN

Nice to see how your part of the nation is performing. Hopes for your continued success.

Jan 17, 2013 09:49 PM #1
Rainmaker
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Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thanks for commenting David!  Same to  you!

Jan 22, 2013 02:44 AM #2
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Jan Green

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN
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