Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
February 6, 2019
February 6, 2019

The new numbers are out and we are seeing about a 15 ½% drop in closed single family home sales from December 2018 (5,247 total SFR sales) to January 2019 (4,430 total SFR sales).  Vacant land sales declined by 23% from December 2018 (287 total vacant land sales) to January 2018 (221 total vacant land sales).  This has caused an increase in market time across the board in every category.  

It was not that long ago (Market Report dated 12-6-18) when we saw a decrease of homes sales by 12% and vacant land sales by 22%.  In December 2018, sales closed out fairly stable for the month and not too far off of November 2018.

I was hoping to see a positive trend as we do have a good number of Pending and Under Contract listings.  Particularly for the beginning of a month because those numbers typically will go up as the month progresses.  The trends of the last few months are definitely shifting.  

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 15,865.  
An increase since last week.    We are seeing an average supply rate of just over 3 3/5 months.  
The current number of pending sales are 4,569.  A slight increase since last week.  
The current number of pending listings that are "under contract-accepting back-up offers", are 3,175.  An increase since last week.

Search #1 - Phoenix (City of Phoenix)

Total of 3,170 active listings.  Just under 3 1/4 month supply.   An increase since last week.

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

Total of 4,262 active listings.  Just over a 3 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 653 Active listings.  Just under a 8 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 3,027 active listings.   Just under 2 3/4 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 967 active listings.  Just under a 3 4/5 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 852 active listings.  Just over an 15 1/2 month supply.  An increase since last week.    

Search #7 - Scottsdale (Under 1 Million)

Total of 1,041 active listings.  Just under 4 month supply.  An increase since last week.

Search #8 - Paradise Valley (Over 1 Million)

Total of 355 active listings.  Just under 11 month supply.   An increase since last week.
 
Search #9 -  >200K (Single Family Homes)

Total of 1,196 active listings.   Just over a 1 9/10 month supply.   An increase since last week.     

Search #10 -  Vacant Land (All Residential Lots)
Total of 7,268 active listings.  Total of 394 pending listings.  Total of 221 closed listings last month.   Just under a 32 9/10 month supply.  An 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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