The STAT December 2014 newsletter is ready for review and it covers residential real estate data for November 2014, throughout the Valley of the Sun. The December report shows that as 2014 draws to a close, our market continues in a stable 16-month pattern. The early market predictions for 2015 are arriving and the local and the national predictions will be similar, reasonable and lack dire forecasts of a cataclysmic shift, according to Tom Ruff of the Information Market.
Check out the STAT highlights below and be sure to read the entire STAT newsletter as Tom discusses in more detail the reasons behind the 2015 real estate market predictions for the Greater Phoenix Area – The Valley of the Sun!
December STAT Highlights
Monthly Sales – 4,989 Units Sold – Down 4.2% year over year. Down 18.9% from last month.
New Inventory – 7,501 Listings – Down 9.7% year over year. Down 23.1% from last month.
Total Inventory – 27,422 Active Listings for Sale. Up 2.1% from last year. Down 0.6% from last month.
Months Supply of Inventory – 5.5 Months. Up slightly from last month.
New List Prices – Average List Price is $331.7K. Up 6.1% from last year.
Sales Prices – Average Sales Price is $251K. Up 6.2% from last year.
Foreclosures Pending – 5,844 Units – Down 33.3% from last year.
Distressed Sales – 486 Units or 9.7% of current sales in MLS. Down 40.7% from last year
Average Days on the Market – 88 – Up 24 days from last year.
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.