ARMLS released the STAT June 2016 newsletter, which covers 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 one of the things he loves about using real estate data is the ability to identify emerging and actionable trends. The economic factors of prior years can and will have a cause and effect on our current market. Five years ago the housing market in Maricopa County saw an influx of Canadian and institutional buyers. This month, we’ll take a quick look at how this impacts our market today and how using this knowledge might improve your marketing efforts. Check out the STAT highlights below and be sure to read the entire STAT June 2016 newsletter.
June 2016 STAT Highlights
Monthly Sales – 8,861 Units Sold – Up 2.1% from last month. Up 2.2% from last year.
New Inventory – 9,635 Listings – Down 0.9% from last month. Up 5.6% from last year.
Total Inventory – 24,641 Active Listings for Sale. Down 4.7% from last month. Up 5.6% from last year.
Months Supply of Inventory – 2.78 Months. Down slightly from last month.
New List Prices – Average List Price is $322K. Up 4.8% from last year.
Sales Prices – Average Sales Price is $282.6K. Up 4.3% from last year.
Foreclosures Pending – 3,703 Units – Down 3.5% from last month. Down 26.6% from last year.
Distressed Sales – 305 Units or 3.4% of current total sales in MLS. Down 44.6% from last year.
Average Days on the Market – 76 – Down 1 day from last month. Down 2 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.