This edition of the STAT January 2016 newsletter covers a review of 2015 residential real estate data for the Valley of the Sun – Metro Phoenix, AZ. In this month’s issue, Tom Ruff of the Information Market mentions that we started 2015 as quietly optimistic, bucking what Freddie Mac’s Multi-Indicator Market In-dex (MIMI) defined as a “weak and declining market”. It can be great to be a prognosticator of prognosticators, especially when we can sit back and relish our own accomplishments. We were right to be optimistic. The success of 2015 doesn’t rise to champagne corks popping off but there were market improvements in almost every way.
Tom also mentions with all things considered, 2015 will go down as an average year. Of the 15 years ARMLS has been reporting sales volume, last year ranks as the 8th highest. After the highs and lows our market has experienced over the last decade, an average year is a nice place to land.
Check out the STAT highlights below and be sure to read the entire STAT January 2016 newsletter.
January 2016 STAT Highlights
Monthly Sales – 6,741 Units Sold – Up 3.8% from last year. Up 26.9% from last month.
New Inventory – 5,925 Listings – Up 3.5% from last year. Down 24.6% from last month.
Total Inventory – 22,897 Active Listings for Sale. Down 8.2% from last year. Up 8.1% from last month.
Months Supply of Inventory – 3.4 Months. Down slightly over the past two months.
New List Prices – Average List Price is $325.3K. Down 1.3% from last year.
Sales Prices – Average Sales Price is $267.6K. Up 3.8% from last year.
Foreclosures Pending – 4,261 Units – Down 26% from last year. Down 2.8% from last month.
Distressed Sales – 446 Units or 6.6% of current total sales in MLS. Down 30% from last year.
Average Days on the Market – 78 – Down 10 days from last year.
If you are a potential home buyer 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.