Phoenix Home Sales Update for Nov. 2008
A total 1095 homes was sold in Phoenix last November, an increase of 58% from November last year. This makes five consecutive months of positive sales growth for Phoenix residential real estate market.
Phoenix home sales declined 49% last February from a year ago. Since then, Phoenix home sales trend has been showing continuous improvements. July '08 was the first month Phoenix home sales turn from negative to positive growth.
The number of lender owned (REO) home sales in Phoenix also increased consistently during 2008. REO home sales in November accounted for 52% of total sales. Total 573 REO listings were sold last month with median price of $80,500 and combined agent days on the market (CDOM) was 68 days. November's cheapest REO home in Phoenix was sold for $12,000.
You can visit www.Arizona-bank-owned-homes.com to view lender owned (REO) homes for sale in Arizona. As of today (12/11/2008), more than 4,000 bank owned homes in Phoenix alone are for sale. Kellson Team offers free live search with full details. Registration is NOT required.
The statistical table below provide a good reference on Phoenix home sales (total MLS sales and REO sales) for the first 11 months of 2008.
| MLS vs. REO sales | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |
|
2008 MLS sales |
592 | 617 | 776 | 953 | 1044 | 1202 | 1322 | 1272 | 1440 | 1324 | 1095 | |
| 1-yr change (%) | -46% | -49% | -44% | -27% | -20% | -4% | 21% | 29% | 88% | 77% | 58% | |
| 2008 REO sales | 122 | 122 | 176 | 241 | 317 | 397 | 506 | 563 | 613 | 646 | 573 | |
| %REOs | 21% | 20% | 23% | 25% | 30% | 33% | 38% | 44% | 43% | 49% | 52% |
Should you have any question or comment, please contact Kellson Team at www.kellson.com. We offer one-stop-shop real estate services in greater Phoenix.
Disclaimer: Data obtained from the Arizona Regional Multiple Listing Service (ARMLS). Information deemed accurate, but not guaranteed. Note: information does not include non-MLS private home sales.
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