Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
November 19, 2012
November 19, 2012    

The market is continuing to trend upward in listings and pricing.  There is still a very competitive market out there, but I think we are seeing more owner occupants in play as the investor interest tapers off a bit.  Not that there are not still many investors buying, but I think the larger acquisition buyers have slowed down.

While our market still has a low inventory compared to a more normal/stable market.  Here is a snapshot of listing volume for just this year:

January    14,479       July     10,413
February    13,357    August    11,156
March     11,848       September    11,659
April     10,767         October    12,773
May     10,964          November    14,302
June     10,694        
* This data is for 2012 Single Family Detached homes only and does not include Patio Homes, Condos, or Townhouses

Keep in mind, I think it is safe to say there was a really sharp increase in buyers in February/March which really peaked over the summer.  Sort of a mini-bubble.  While investors have driven up the prices, the prices are still REALLY great.  Rates continue to be historically low and having more choices in the market of quality homes makes it a great time to buy!

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 14,302.
An increase since last week.    
We are seeing an average supply rate of just over 2 months.
The current number of pending sales are 8,676.  A slight decrease since last week.
The current number of pending listings that are “active with contingencies”, are 4,639.  A decrease since last week.
 
           Search #1 – Phoenix (City of Phoenix)
 
•         Total of 2,490 active listings.  Just under a 1 3/4 month supply.   A slight decrease since last week.
           Search #2 – West, Far SW & Far NW Valley
•         Total of 3,963 active listings.  Just over a 2 month supply.  A slight increase 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 548 active listings.  Just less than a 5 4/5 month supply.  A slight increase 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 2,715 active listings.  Just under a 1 7/10 month supply.  A decrease since last week.

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

Search #5 – Southeast Valley   

•         Total of 1,061 active listings.  Just over a 3 1/2 month supply.  .  An 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 511 active listings.  Less than a 15 1/2 month supply.  An increase since last week.

Search #7 – Scottsdale (Under 1 Million)

•         Total of 1,038 active listings.  Just under a 2 9/10 month supply.  An increase since last week.

Search #8 – Paradise Valley (Over 1 Million)

•         Total of 244 active listings.  Just under a 7 month supply.  An increase since last week.     

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

•         Total of 915 active listings.  Just over a 1 month supply.  About the same as last week.    

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

•         Total of 190 active listings.   Just over a 3 week supply.   A slight increase 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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