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Phoenix Real Estate Market November 2015

Phoenix Real Estate Market November 2015
 

 
Monthly Sales:
Since last month have dropped around 9% but are up over 2% from this time last year. In October 2015 we had 6,304 sales completed.
 
New Inventory:
We have started to see inventory come on the market a little bit more quickly, now. Apparently there are some of you who are ready to ring in the new year by selling your current home. Right now we have about 10,000 homes on the market that can be purchased.
 
Total Inventory:
It is down almost 11% from last year at this time but up almost 6% from last month.
 
Months Supply of Inventory:
A lingering factor in the health of the Phoenix real estate market has been the constricted supply of inventory, particularly that of the affordable kind. But in any case, as we just talked about, you can see there has been more inventory trickling onto the market now in the last few months. Regardless, we’re still under 4 months supply.
 
New List Prices:
There are some healthy numbers coming out of this stat and the sales price stats. Obviously what you list for your property is not typically what you get, but it’s a start to see how the list prices have fluctuated both since this time last year. So, we’re up about 3% from last year on average.
 
Sales Prices:
A better statistic past list prices is, where did we land after everything is said and done, what did your house sell for? Since last year at this time we’ve seen an 8% increase in prices with the average sales price right now being $267,500. The median sales price puts us at $213,000, which has flourished almost 11% from last year.
 
Sale Price Forecast:
Where are sales prices expected to head in the next 30 days? Please subscribe to our monthly newsletter that gives you in the inside track on these important stats and so much more!
 
Distressed Sales:
Almost thought these didn’t exist anymore, didn’t you? Well, there’s always going to be a small amount of inventory that is considered distressed, with that portion being around 6% of what is being sold right now in the Phoenix-metro real estate market.
 
Average days on market:
If you stuck your house on the market today, how long would it take to sell? That is usually the million dollar question. Of course, it depends on if it’s priced well, shows well, there’s not 100 cats occupying it, but on average you’re looking to moving into your sweet new digs in about 70 days. Unless you list your home with me, in which you’ll be heralded off into the sunset with a giant check sooner than you can imagine…(But seriously if you’re interested in listing your home check this out).
 
Insider News:
In this months edition we cover a few interesting topics like – what do recent car sales tell us about where the real estate market is heading? – Where are Phoenix-metro real estate prices heading in the next 30 days? – what is the annual rate of appreciation we are experiencing/can expect in the Phoenix real estate market?
 
I hope you’ll join my other subscribers to be in the know!
 
Until next time, thanks for taking a look at my blog. Do leave your comments below; I’d love to hear from you and your feedback and thoughts always make the conversation better!
 

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