Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
June 1, 2018
June 1, 2018

Phoenix Home Prices & Values
The median home value in Phoenix is $229,000. Phoenix home values have gone up 10.1% over the past year and Zillow predicts they will rise 4.3% within the next year. The median list price per square foot in Phoenix is $165, which is higher than the Phoenix Metro average of $156. The median price of homes currently listed in Phoenix is $284,500 while the median price of homes that sold is $241,200. The median rent price in Phoenix is $1,350, which is lower than the Phoenix Metro median of $1,475.
Foreclosures will be a factor impacting home values in the next several years. In Phoenix 0.5 homes are foreclosed (per 10,000). This is the same as the Phoenix Metro value of 0.5 and also lower than the national value of 1.6
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Phoenix is 1.0%, which is lower than the national value of 1.6%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Phoenix homeowners underwater on their mortgage is 11.3%, which is higher than Phoenix Metro at 10.6%.
(Phoenix Home Prices & Values Source Information:  https://www.zillow.com/phoenix-az/home-values/)
Hope you having a great weekend!      

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 13,307.  
A slight decrease since last week.    We are seeing an average supply rate of just over 1 3/4 months.  
The current number of pending sales are 5,533.  A slight decrease since last week.  
The current number of pending listings that are "under contract-accepting back-up offers", are 3,981.  A decrease since last week.

Search #1 - Phoenix (City of Phoenix)

Total of 2,667 active listings.  About a 1 3/5 month supply.   A decrease since last week.

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

Total of 3,494 active listings.  Under a 1 1/2 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 565 Active listings.  Just under a 3 1/2 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 2,410 active listings.  Just over a 1 1/5 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 612 active listings.  Just under a 1 1/2 month supply.   A decrease 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 804 active listings.  About a 9 month supply.  A decrease since last week.    

Search #7 - Scottsdale (Under 1 Million)

Total of 992 active listings.  Just under a 2 1/3 month supply.  A decrease since last week.

Search #8 - Paradise Valley (Over 1 Million)

Total of 305 active listings.  Just under an 7 2/5 month supply.  A decrease since last week.     

Search #9 -  >200K (Single Family Homes)

Total of 886 active listings.   About a 2/3 of a month supply.  About the same as last week.     

Search #10 -  Vacant Land (All Residential Lots)

Total of 6,827 active listings.  Total of 434 pending listings.  Total of 395 closed listings last month.   Just over an 17 1/3 month 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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