Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
September 12, 2013
September 12, 2013

Hi there, please note on this weekly update…..I had a bit of a lag in between reports; so…please know the figures that standardly state “since last week” in this report really reflect since last report I sent out…which was about 21 days ago.  I should be back on track now…sorry for the delay I did have some inquiries as to the latest info you are used to receiving so I apologize for my tardiness.

Now then…let’s get to what has transpired recently…safe to say we are seeing some very strong signs that things are not so much like a “runaway train” like we have somewhat become accustomed to.  Not to say that we are not seeing strong sales, but in the respect that the mass of multiple counters offers has dwindled.  I would credit this with a  few things that have been happening:

•    List prices on many homes are coming out well above market (more sellers simply testing the market to see what they can get)
•    Less cash investors then we did have; so really many more traditional buyers getting financing, who must buy properties that can appraise.  So, those overpriced listings won’t see activity too often from those types of buyers, as it can be risky if the seller won’t adjust their price to the appraised value
•    Prices themselves have really seen a lot of recovery so those really great deals are hard to come by
•    While the prices of sales have really blossomed, rental rates not so much….. so for investors less attractive if they are not making a surplus or not enough of a surplus
•    Bank owned & short sale listings are the minority of sellers…these deals are really more often not emotional for sellers.  These properties can offer more negotiating flexibility and compromise for buyers.  On the flip side, the majority of sellers are traditional homeowners or investor buyers selling.  These sellers have needs to be met and plans they are formulating on these sales & what their proceeds will be….. so they may not be able to be or want to be very flexible.

Happy house hunting & please let me know if I can be of service anytime!

Hope you are having a great week!

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 15,268.
An increase since last week.    
We are seeing an average supply rate of just over 2 1/5 months.
The current number of pending sales are 6,509.  A decrease since last week.
The current number of pending listings that are “under contract-accepting back-up offers”, are 2,710.  A decrease since last week.
 
           Search #1 – Phoenix (City of Phoenix)
 
•         Total of 2,920 active listings.  Just over a 2 month supply.   An increase since last week.
           Search #2 – West, Far SW & Far NW Valley
•         Total of 3,927 active listings.  Just over a 2 month supply.  An 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 544 active listings.  Just over a 4 2/5 month supply.  An 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 3,430 active listings. Just under a 2 1/5 month supply.  An 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 985 active listings.  Just under a 3 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 478 active listings.  Just over a 10 1/5 month supply.  An increase since last week.

Search #7 – Scottsdale (Under 1 Million)

•         Total of 1,029 active listings.  Just under a 3 month supply.  An increase since last week.

Search #8 – Paradise Valley (Over 1 Million)

•         Total of 238 active listings.  A 8 1/2 month supply.  An increase since last week.     

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

•         Total of 593 active listings.  Just over a 1 1/2 month supply.  An increase since last week.    

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

•         Total of 79 active listings.   Just under a 1 1/4 week supply.   A slight 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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