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 data from third parties delivered thirty to ninety days late. 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.
STAT July 2014
The STAT July 2014 newsletter is ready for review and it covers June 2014 data. The July report shows the first six months of 2014 were characterized by low demand and a supply that typically left in its wake a market which slightly favored the buyer, according to Tom Ruff of The Information Market.
July 2014 STAT Highlights
Monthly Sales – 7,219 Units Sold – Down 12.3% year over year. Down 3.0% from last month.
New Inventory – 8,677 Listings – Down 6.2% year over year. Down 11.6% from last month.
Total Inventory – 27,708 Active Listings for Sale. Up 42.0% from last year. Down 4.4% from last month.
Months Supply of Inventory – 3.84 Months. Down slightly from 3.89 last month.
New List Prices – Up 6.7% from last year.
Sales Prices – Up 8.1% from last year.
Foreclosures Pending – 6,476 Units – Down 40.5% from last year.
Average Days on the Market – 82 – Up 16 days from last year. Down 1 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.