STAT, the Arizona Regional Multiple Listings Service’s (ARMLS®) monthly statistical newsletter, provides a lucid and 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 November 2013
The November version of the STAT newsletter is ready for review and it covers October 2013 data. The STAT November 2013 version provides supporting data that a continued shift is taking place in the Greater Phoenix residential real estate market. Sales in October declined 13.9% year-over-year and total inventory increased 11.9% month-over-month – a big shift between supply and demand. We seem to be in a balanced market but with supply increasing and demand falling, we are moving towards a buyer’s market.
November 2013 STAT Highlights
Monthly Sales – Down 13.9% year over year. Down 4.3% from last month
New Inventory – Up 8.9% year over year. Up 14.1% from last month
Total Inventory – Currently 26,170 Active Units for Sale. Up 15.3% from last year. Up 11.9% from last month
Months Supply of Inventory – 4.33 Months. Up from 3.7 months last month
New List Prices – up 19% from last year
Sales Prices – Up 18.6% from last year
Foreclosures Pending – down 53.9% from last year
Average Days on the Market – 65 – down 5 days from last year and up 3 days from last month
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