Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
May 17, 2012

May 17, 2012    

   

We hit under 10,000 single family homes…….it is just madness out there!

I think it is important for buyers in this market to keep things in perspective with pricing.  Our market values dropped so fast and furious that we are really still in a market where prices are super deflated.  I know it is hard to digest that when you see homes coming onto the market 10-20% over what the current market value is.  But, that said, they are coming from a base that is already skewed because of the fall out of the market here in Arizona. 

 

In addition, there are so many cash buyers out there that the issue of a home having to appraise is rarely a concern to that type of buyer.  The result of that is the market prices ARE going up and if you can buy now you are still getting properties at prices that are deflated.  So, of course, the big question is:  When are things going to level off? 

 

I think the main trends we should be looking at are when the inventory levels begin to increase again.  When that happens I believe that could be the beginning of finding some stability.  Right now the market is super hot and you can barely get to it with a 10 foot pole because when a property hits the market (in most cases) it has multiple offers on it right away.   For properties that are not moving, I would say it’s either the price or has something very challenging based solely on location or the property itself to overcome that will take a special buyer.

 

I hope you have a great afternoon and if you think you might be ready to put your home on the market, give me a call!!

 

Here are your weekly Inventory Levels: 

 

Supply numbers are based on the number of closings in the previous month, divided into the total number of active listings today.   

This data is for Single Family Detached homes only and does not include Patio Homes, Condos, or Townhouses .

The total number of single family homes on the market in the Arizona Regional Multiple Listing Service is currently 9,963.

An increase since last week.    

We are seeing an average supply rate of less than 1 1/5 months.

The current number of pending sales are 10,964.  An increase since last week. 

The current number of pending listings that are “active with contingencies”, are 6,940.  An increase since last week. 

  

           Search #1 – Phoenix (City of Phoenix) 

 

·         Total of 1,562 active listings.  Less than a month supply.   A decrease since last week.

           Search #2 – West, Far SW & Far NW Valley

·         Total of 2,639 active listings.  About a 1 1/4 month supply.  A decrease since last week. 

 

(Cities of: Cordes Lakes, Bumble Bee, Crown King, Wagoner, Yarnell, Date Creek, Constellation, Black Canyon City, Castle Hot Springs, Wickenburg, Aguila, Gladden, Morristown, Circle City, Wittmann, Harquahala, Tonopah, Paloma, Sentinel, Gila Bend, Mobile, Arlington, Hassayampa, Palo Verde, Congress, Peeples Valley, Yarnell, Cleator, Cordes, Glendale, Litchfield Park, Goodyear, Avondale, Tolleson, Cashion, Estrella Mountain Ranch, Laveen, Peoria, Surprise, Sun City, Sun City West, Glendale, El Mirage, Youngtown, New River, Anthem, Buckeye) 

 

Search #3 – Northeast Valley 

 

·         Total of 519 active listings.  About a 3 3/4 month supply.  A decrease since last week.   

 

 (Cities of: Rio Verde, Fountain Hills, Sunflower, Camp Creek, Desert Hills, Cave Creek, Carefree, Fort McDowell)

 

Search #4 – East Valley

 

·         Total of 1,737 active listings.  Less than a 1 month supply.  A slight increase since last week.    

 

(Queen Creek, Chandler, Gilbert, Apache Junction, Gold Canyon, Tortilla Flat, Mesa, Tempe, Ahwatukee,Guadalupe, Komatke)

 

Search #5 – Southeast Valley  

 

·         Total of 475 active listings.  About a 1 month supply.  A slight increase since last week.

 

(Arizona City, Eloy, Picacho, Toltec, Arizola, Casa Grande, Randolph, Coolidge, Valley Farms, Florence, Johnson Ranch, Sacaton, Bapchule, Stanfield,

Maricopa, Ak Chin, Santa Cruz)

 

Search #6 – Scottsdale (Over 1 Million)

 

·         Total of 540 active listings.  About 11 ¼ month supply.  A decrease since last week. 

 

Search #7 – Scottsdale (Under 1 Million)

 

·         Total of 839 active listings.  About a 1 3/4 month supply.  A decrease since last week.   

 

Search #8 – Paradise Valley (Over 1 Million)

 

·         Total of 264 active listings.  About a 5 3/5 month supply.  A decrease since last week.     

 

 Search #9 –    50K-100K (Single Family Homes)

 

·         Total of 685 active listings.  Less than a 2 week supply.  A decrease since last week.    

 

 Search #10 –  Under 50K (Single Family Homes)

 

·         Total of 157 active listings.   Less than 2 week supply.   A decrease since last week.    

 

If your property is currently listed with a real estate broker or if you are currently working with another real estate agent, please disregard. 

It is not my intention to solicit the offerings of other real estate brokers.  I am happy to work with them and cooperate fully.


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West USA Realty
16150 N Arrowhead Fountain Center Dr. Suite #100 • Peoria, AZ 85382
Mobile: (602) 526-7486 • Fax: (623) 877-5455
Office: (602) 375-3300


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