This edition of the STAT September 2015 newsletter covers August 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 our housing market continues to show slow and steady improvement. On a year-over-year basis distressed inventory is down, foreclosures are down, traditional buyers are up, purchase money mortgages are up and new construction is up. Each of these metrics continues to improve, a repeat of what happened last month. Sales volume was up 9.1% year-over-year while the median sales price increased 5.7% and average sales price increased 4.7%. We saw month-over-month declines in sales volume and prices, as expected, following seasonal patterns.
Check out the STAT highlights below and be sure to read the entire STAT September 2015 newsletter.
September STAT Highlights
Monthly Sales – 7,010 Units Sold – Up 9.1% from last year. Down 11.4% from last month.
New Inventory – 8,583 Listings – Up 5.0% from last year. Down 5.5% from last month.
Total Inventory – 22,432 Active Listings for Sale. Down 17.1% from last year. Down 1.9% from last month.
Months Supply of Inventory – 3.2 Months. About the same as last month.
New List Prices – Average List Price is $308.6K. Up 6.5% from last year.
Sales Prices – Average Sales Price is $260.8K. Up 4.7% from last year.
Foreclosures Pending – 4,634 Units – Down 24.5% from last year. Down 4.5% from last month.
Distressed Sales – 429 Units or 6.1% of current total sales in MLS. Down 35% from last year.
Average Days on the Market – 75 – Down 13 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.