STAT August 2014
The STAT August 2014 newsletter is ready for review and it covers July 2014 data. The August report shows a continued shift away from a market once dominated by distressed sales and investor purchases to a much healthier more traditonal market, according to Tom Ruff of The Information Market.
August 2014 STAT Highlights
Monthly Sales – 6,775 Units Sold – Down 17.5% year over year. Down 6.2% from last month.
New Inventory – 8,468 Listings – Down 7.4% year over year. Down 2.4% from last month.
Total Inventory – 26,928 Active Listings for Sale. Up 34.3% from last year. Down 2.8% from last month.
Months Supply of Inventory – 3.97 Months. Up slightly from 3.89 last month.
New List Prices – Average List Price is $297.8K. Up 7.6% from last year.
Sales Prices – Average Sales Price is $249.7K. Up 6.5% from last year.
Foreclosures Pending – 6,351 Units – Down 36.6% from last year.
Average Days on the Market – 86 – Up 22 days from last year. Down 4 day from last month
If you are a potential homebuyer and have questions regarding the current real estate market data in the specific area where you are planning to purchase, be sure to consult with your Realtor or feel free to Contact US.
If you would like to search homes for sale throughout the Valley of the Sun, be sure to visit our Home Search Page.
Arizona Regional Multiple Listings Service’s (ARMLS®) monthly statistical newsletter STAT, provides a timely view of what is happening to the residential real estate market in the Valley of the Sun – The Metro Phoenix Area. Unlike statistics compiled by other entities, it does not rely on third party data. STAT’s focus is on SALES and ACTIVE INVENTORY, year over year and month over month, including details on sales prices, foreclosures and short commentary. * The most current version will provide data from the previous month.