As we've observed in the past several weeks, we are continuing to see the traditional seasonal slowing that takes place in the fall months and into the holidays, which this year may also be exaserbated by the expiration of the tax credit.
The current state of the overall Phoenix Metro Area market is:
Appreciation: -.08 annually/-5.7% monthly
Months of Supply: 6.5
MLS listed homes (all property types) sold ytd: 66,536
Average days on market: 105
Percentage REO active listings: 19.4%
Percentage short sale active listings: 38.7%
Percentage equity sale active listings: 41.9
Current Conditions in the Phoenix Market:
Â· There are 31,595 single family detached listings currently active in MLS. That is an increase of 470 over last week.
Â· There are 39,025 total listings currently active in MLS, including condos, town homes, patio homes and lofts.
I hope that knowing where the market is will assist you in helping your buyers and sellers to navigate our market. Great price and low interest rates make this a fantastic time to buy!
You can feel free to use my website for specific neighborhood data as well as refer your clients to it as well.
All my best
Keller Williams Arizona Realty